Clean Air Power Limited Concept Development Agreement (6208Z)

TIDMCAP

RNS Number : 6208Z

Clean Air Power Limited

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

AGRUGUUCPUPCGQM

Clean Air (LSE:CAP)
Historical Stock Chart
From Jun 2024 to Jul 2024