Volvo Product Launch (6405H)
June 01 2011 - 4:00AM
UK Regulatory
TIDMCAP
RNS Number : 6405H
Clean Air Power Limited
01 June 2011
For immediate release 1 June 2011
Clean Air Power Ltd
("Clean Air Power" or "the Company")
Volvo Product Launch
Clean Air Power (AIM: CAP), the developer of Dual-Fuel(TM)
combustion technology that enables heavy-duty diesel engines to
operate on a combination of diesel and natural gas, is pleased to
announce Volvo's successful launch of their new Volvo FM
MethaneDiesel truck
The launch of the Volvo FM MethaneDiesel, which integrates Clean
Air Power's Dual-Fuel(TM) technology within its engine, follows the
Supply and Development Agreement signed with Volvo Powertrain, a
subsidiary of AB Volvo, in July 2010.
This product launch and sales start is the result of several
years of development activity between Clean Air Power and Volvo.
Volvo has been trialling the product since late 2010 and these
field trials are due to conclude soon.
Early trial results indicate that incorporating Clean Air
Power's Dual-Fuel technology into these truck engines delivers
significant greenhouse gas emission reductions and fuel cost
savings compared with standard diesel engines. Additionally these
Dual-Fuel trucks are expected to be around 30-40% more energy
efficient than equivalent spark ignited natural gas engines. The
engines can use natural- or bio-gas as the main fuel and can also
operate on only diesel, an important feature as gas distribution
systems face many years of development.
The new technology allows users of heavy duty diesel powered
vehicles to cut fuel consumption by 25%, meaning that a gas powered
truck run on biogas can achieve up to 70% reduction in emissions of
carbon dioxide compared with a conventional diesel engine.
Furthermore, the price of natural gas is considerably lower than
that of diesel, thereby offering significant financial savings
which will be a core driver behind widespread understanding and
commercial adoption of this technology.
The product roll-out is expected in Q4 this year, subject to the
field trials delivering the expected results.
Commenting on the product launch, John Pettitt, CEO of Clean Air
Power, said:
"We are delighted to have achieved this product launch with
Volvo as our OEM partner integrating Clean Air Power's
Dual-Fuel(TM) technology within its engine. This represents the
achievement of a key milestone set out within our objectives when
the Company came to market back in 2006.
Natural gas as a fuel source is really beginning to gain global
traction within the transportation industry and we therefore feel
that our collaboration with Volvo will lead to some meaningful
revenues as we continue to progress the commercialisation of our
patented and proven technology."
For further information please contact:
Clean Air Power Tel: +44 (0)1772 624 499
John Pettitt, Chief Executive
Peter Rowse, Group Finance Director
Buchanan Communications Tel: +44 (0)20 7466 5000
Charles Ryland Tel: +44 (0)20 7107 8000
Ben Romney
Seymour Pierce
Freddy Crossley/
Mark Percy
David Banks (Corporate Broking)
Notes to Editors
About Clean Air Power
Clean Air Power is the developer and provider of Dual-Fuel(TM)
combustion technology for heavy duty diesel engines. Dual-Fuel(TM)
engines substantially cut fuel costs and carbon emissions without
sacrificing the original engine's characteristic efficiency or
reliability. Clean Air Power is well positioned to assist
corporations and governments to deliver on their environmental
commitments while at the same time reducing transport operators
overheads.
Further information is available at cleanairpower.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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