Update on European OEM Product Launch (2716O)
September 15 2011 - 2:01AM
UK Regulatory
TIDMCAP
RNS Number : 2716O
Clean Air Power Limited
15 September 2011
For immediate release 15 September 2011
Clean Air Power Ltd
("Clean Air Power" or "the Company")
Update on European OEM 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, announces that
there has been a temporary delay to the full scale production of
the European OEM product which integrates Clean Air Power's
Dual-Fuel(TM) technology within its engine.
The delay to the start of these sales together with lower than
expected revenues for the Genesis Dual-Fuel(TM) products, emission
and components business over the summer months means that the
Company is trading below market expectations for the full year to
31 December 2011.
The interim results for the six months ending 30 June 2011 will
be announced on 30 September 2011.
Commenting on the delay, John Pettitt, CEO of Clean Air Power,
said:
"We fully expect to get factory production back on track during
this year so that we can reduce impact to the business. We have a
very strong working relationship with our customer and together we
are making every effort to resolve these short term issues as soon
as possible. We have seen strong demand for our Dual-Fuel(TM)
systems but concluding orders is taking longer than
anticipated"
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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