Clean Air Power Limited Trading Update (2050X)
February 06 2013 - 2:00AM
UK Regulatory
TIDMCAP
RNS Number : 2050X
Clean Air Power Limited
06 February 2013
6 February 2013
Clean Air Power Limited
("Clean Air Power")
Trading Update
Clean Air Power (AIM:CAP), the developer and global leader in
Dual-Fuel engine management software for heavy duty vehicles, is
pleased to provide an update on trading for the year ended 31
December 2012 and on a very encouraging start to 2013.
Clean Air Power's preliminary full year results for 2012 will be
issued on 4 April 2013 and are expected to be in-line with market
expectations. Increasing interest in our European products amongst
end users resulted in 300 system sales of our Dual-Fuel(TM)
systems, a combination of both our own Genesis Edge product and
sales to our European OEM partner. This compares with 70 system
sales in 2011.
This momentum has continued into January 2013 with customers
having already placed more than 100 new orders either with Clean
Air Power or our European OEM partner for Dual-Fuel(TM) systems and
is also reflected by increasing production levels by our European
OEM partner. We have also delivered 20 of our Genesis-EDGE branded
systems during the month, part of an order received in 2012.
John Pettitt, Chief Executive of Clean Air Power said: "Clean
Air Power demonstrated strong results in 2012 with increasing
demand in Europe for Dual-Fuel(TM) technologies translating into a
significant increase in orders. The traction we are seeing in
Europe is a success in its own right and also gives us great
confidence we will deliver on the significant opportunity in the US
where the availability and relatively low cost of natural gas is
driving customer demand for natural gas vehicles. Our development
programme for Genesis-EDGE for the US is underway with interest
shown from a number of major fleet customers."
For further information, please contact:
Clean Air Power Limited Tel: +44 (0)1772 624 499
John Pettitt,
Peter Rowse
Seymour Pierce Limited (Nominated Tel: +44 (0) 20 7107 8000
Adviser)
Mark Percy / David Foreman
Corporate Broking
David Banks
Citigate Dewe Rogerson Tel: +44 (0) 20 7282 2867
Malcolm Robertson / Chris Gardner
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.
Initially founded in the USA in 1991, around GBP40m has been
invested in developing the technology with the result that 65
patents are currently held or pending. The holding company of the
Group is based in Bermuda with operational subsidiaries in the UK,
the USA and Australia. The Group was admitted to the AIM market of
the London Stock Exchange in February 2006.
Further information on Clean Air Power is available at
www.cleanairpower.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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