Clean Air Power Limited Exhibition of prototype vehicle for US market (5644I)
July 04 2013 - 2:00AM
UK Regulatory
TIDMCAP
RNS Number : 5644I
Clean Air Power Limited
04 July 2013
4 July 2013
Clean Air Power Limited
("Clean Air Power" or the "Group")
First prototype Dual-Fuel(TM) vehicle for the US market
exhibited at the Alternative Clean Transportation EXPO
Clean Air Power's prototype vehicle makes first Dual-Fuel(TM)
coast-to-coast crossing of the US
Clean Air Power (AIM:CAP), the developer and global leader in
Dual-Fuel engine management software for heavy duty vehicles, is
pleased to announce that it has exhibited its first prototype
vehicle retrofitted with a Genesis-EDGE Dual-Fuel(TM) product
suitable for the important US market at the Alternative Clean
Transportation EXPO, Washington DC., 24-27 June 2013.
The prototype vehicle, a 425hp Volvo VNL retrofitted with a US
version of Clean Air Power's patented Dual-Fuel(TM) Genesis-EDGE
product, successfully made the 2,720 mile journey across the US
from the Group's manufacturing facility in Poway, California to the
Convention Center in Washington DC. The truck, which runs primarily
on liquid natural gas ("LNG"), started with a full tank of LNG in
San Diego and refuelled at a LNG filling station in Dallas during
what was the first coast-to-coast crossing of the US by a
LNG/Dual-Fuel(TM) vehicle. 1,000 miles were covered in Dual-Fuel
operation with the balance in diesel; demonstrating the system's
flexibility and the benefit Dual-Fuel provides for fleet operators
when gaps in LNG supply are encountered. The natural gas refuelling
network currently spanning the US is incomplete but is expanding
rapidly as investment in new refuelling stations by major gas
supply companies increases.
The exhibition was very successful with more than 150 visitors
to the stand, which featured video of the truck's journey to
Washington DC. The production of the first prototype US
Dual-Fuel(TM) vehicle is an important milestone for Clean Air Power
and demonstrates that its program to develop a US Genesis-EDGE
product certified to US2010 emissions levels is on track and at an
advanced stage. The launch of a US Genesis-EDGE product will enable
the Group to meet the rapidly growing demand for natural gas
vehicles in the US. The Group has already received interest from a
number of major fleet customers and anticipates that the first
trial vehicles will be on the road and undergoing validation by the
end of 2013, with production commencing in early 2014.
In addition to the Genesis-EDGE product, considerable interest
was also shown in Clean Air Power's legacy Caterpillar C15 system.
This system can be fitted to either existing trucks or new trucks
using a Glider kit (a complete truck less the engine, transmission
and rear axle) and fitted with a re-manufactured C15 Dual-Fuel(TM)
engine and transmission from the same period. The Caterpillar C15
heavy duty diesel engine has a substantial installed base and
continues to be a popular choice for an important niche of US fleet
operators.
John Pettitt, Chief Executive of Clean Air Power said:
"The production of a Genesis-EDGE retrofit product for the US
market is a key strategic goal for Clean Air Power that has the
potential to generate significant revenue and further validate the
technology to potential OEM partners. I am delighted that we have
been able to exhibit at EXPO our first prototype Dual-Fuel(TM)
vehicle which moves us an important step closer to delivering on
this objective. The US represents a large and growing opportunity
for Clean Air Power as the abundance of domestically produced
natural gas and increasing investment in new refuelling stations by
major gas supply companies drives ever greater customer demand for
LNG vehicles. Our development programme for a US Genesis-EDGE
product has reached an advanced stage and I am now confident that
we are on track to deliver a product capable of servicing this
demand."
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 / Paul Jewell (Corporate
Broking)
Tel: +44 (0)20 7104 2334
Peat & Co
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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