Clean Air Power Limited Concept Development Agreement (6208Z)
February 10 2014 - 2:00AM
UK Regulatory
TIDMCAP
RNS Number : 6208Z
Clean Air Power Limited
10 February 2014
10 February 2014
Clean Air Power Limited
("Clean Air Power" or the "Group")
Concept Development Agreement
Clean Air Power (AIM: CAP), the developer and global leader in
Dual-Fuel engine management software for heavy duty vehicles, today
announces that it has entered into a funded concept development
agreement with a global truck manufacturer to develop a Dual-Fuel
engine for a South East Asian market. This is the first program to
be awarded through the cooperation agreement with Ricardo, Inc,
signed in September 2013.
The purpose of the development program is to utilise Clean Air
Power's Dual-Fuel(TM) combustion technology to deliver an advanced
dual-fuel engine that not only achieves its emissions objective but
also reduces the extent of emissions after-treatment required by
the base diesel engine.
Subject to a successful concept phase, expected to last 6
months, the agreement will then enter a second stage to bring the
advanced dual-fuel engine to start of production.
Commenting on the agreement, John Pettitt, CEO of Clean Air
Power, said:
"It is a pleasure to be announcing a concept study so quickly
after entering the cooperation agreement with Ricardo. This is a
very exciting but challenging program which highlights the interest
in our technology in major world markets including Asia."
For further information, please contact:
Clean Air Power Tel: +44 (0)1772 624 499
John Pettitt, Chief Executive
Pete 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 3540 1721
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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