Clean Air Power Limited Comment on launch of first Bio-LNG filling station (4152F)
May 23 2013 - 3:29AM
UK Regulatory
TIDMCAP
RNS Number : 4152F
Clean Air Power Limited
23 May 2013
23 May 2013
Clean Air Power Limited
("Clean Air Power" or the "Company")
Comment on the launch of the UK's first open access Bio-LNG
filling station
Clean Air Power (AIM: CAP), the developer and global leader in
dual-fuel engine management software for heavy duty vehicles,
welcomes today's announcement by Gasrec of the launch of the UK's
first open access Bio-LNG filling station in Daventry.
The management of Clean Air Power consider the opening to be an
important milestone in the development of a nationwide natural gas
refuelling network that will help drive the uptake of heavy-duty
natural gas and dual-fuel engines in the UK. Gasrec has already
committed to an investment programme to establish the first
national network of refuelling stations for Bio-LNG, a blend of
liquefied natural gas (LNG) and liquid biomethane (LBM), planned to
be operational by 2015.
Investment in natural gas refuelling infrastructure by major gas
suppliers and multi-location logistics organisations is increasing
across Europe and North America. This is in response to the growing
availability of natural gas and to rising demand for LNG and
dual-fuel heavy goods vehicles (HGVs) from fleet operators, such as
Sainsbury's in the UK, who recognise the significant fuel cost and
emissions reduction benefits they offer.
Clean Air Power is at the forefront of this worldwide trend
towards the adoption of natural gas as a road fuel for HGVs. The
Company's Dual-Fuel(TM) system and engine management software
enable HGVs to run primarily on natural gas without sacrificing any
of the performance or reliability characteristics of a normal
diesel engine. If the natural gas supply runs out, the
Dual-Fuel(TM) system can switch to operate on 100% diesel, giving
complete diesel operational back-up.
Clean Air Power's Dual-Fuel(TM) system is already available in
Europe as an interfaced OEM product through a major HGV
manufacturer and as the Company's own branded Genesis-EDGE retrofit
product. Clean Air Power is also developing a Genesis-EDGE retrofit
product for the large and growing US market where the ready
availability of natural gas is helping to drive customer
demand.
John Pettitt, Chief Executive of Clean Air Power said:
"The launch of Britain's first open access Bio-LNG filling
station by Gasrec represents a breakthrough for the LNG vehicle
industry in the UK and demonstrates the growing importance of
natural gas as a road fuel in the UK and around the world. The
adoption of natural gas vehicles is accelerating worldwide driven
by cost savings, reductions in emissions and the expansion of
refuelling infrastructure as the major gas supply companies, such
as Gasrec, increasingly look to invest significant capital in new
fuelling stations. All of these factors are contributing to the
growing trend towards the adoption of natural gas as a road fuel
and, as the leading supplier of dual-fuel technology, Clean Air
Power is well positioned to benefit."
For further information, please contact:
Clean Air Power Tel: +44 (0)1772 624 499
John Pettitt, Chief Executive
Peter Rowse, Finance Director
Citigate Dewe Rogerson Tel: +44 (0)20 7282 2867
Malcolm Robertson
Chris Gardner
Cantor Fitzgerald Europe Tel: +44 (0)20 7894 7000
David Foreman / Mark Percy (Corporate
Finance) Tel: +44 (0)20 7894 7632
David Banks (Corporate Broking)
Peat & Co Tel: +44 (0)20 7104 2334
Charlie Peat
Andy Cuthill
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 GBP50m 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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