Clean Air Power Limited US Genesis-EDGE Product Update (5543S)

TIDMCAP

RNS Number : 5543S

Clean Air Power Limited

25 September 2014

Clean Air Power Limited

("Clean Air Power" or the "Company")

US Genesis-EDGE Product Update

Clean Air Power (AIM:CAP), the developer and global leader in compression-ignited natural gas engine management systems for heavy-duty engines, today provides an update on its US Genesis-EDGE product.

As announced by the Company on 18 June 2014 its US Genesis EDGE Dual-Fuel(TM) test engine has met all Environmental Protection Agency (EPA) emission requirements in internal testing at company facilities in Leyland, UK. The engine was subsequently shipped to the US for formal and independent testing by Ricardo Inc., in preparation for an application for EPA certification. Whilst in pre-certification testing the engine has demonstrated that it can meet EPA emission targets, technical issues with the selective catalytic reduction (SCR) after-treatment system on the base diesel engine has prevented the completion of a full test cycle. The engine has been temporarily withdrawn from testing whilst the issue is resolved and will be returned to complete certification at the earliest opportunity.

John Pettitt, Chief Executive of Clean Air Power said: "Whilst technical issues have led to a short temporary delay in the progress of our US Genesis-EDGE product, the success of the engine in meeting emissions targets in pre-certification testing means that I am confident of achieving EPA approval once testing is resumed. We are now focused on resolving the technical issues, in the next few weeks, so that we can continue the testing programme and achieve certification and our first US sales as quickly as possible."

Enquiries:

 
 Clean Air Power                          Tel: +44 (0)1772 624 
                                           499 
 John Pettitt, Chief Executive Officer 
 Neill Skinner, Chief Financial Officer 
 
 Citigate Dewe Rogerson                   Tel: +44 (0)20 7282 
                                           2867 
 Malcolm Robertson 
 Chris Gardner 
 
 Panmure Gordon                           Tel: +44 (0)20 7886 
                                           2500 
 Corporate Finance 
 Freddy Crossley / Atholl Tweedie 
 Corporate Broking 
 Tom Salvesen 
 
 Peat & Co                                Tel: +44 (0)20 3540 
                                           1721 
 Charlie Peat 
 Andy Cuthill

About Clean Air Power

Clean Air Power designs, develops and delivers compression-ignited natural gas engines for heavy duty transport applications. Clean Air Power's patented MicroPilot and Dual-Fuel(TM) technology enables engines to run on natural gas mixed with diesel (or any suitable combustion fuel) providing the "spark" that ignites the gas. Substituting natural gas for diesel cuts fuel costs, emissions of carbon, nitrous oxide and particulates whilst retaining the original engine's power, efficiency and reliability characteristics. Clean Air Power operates in the US, Europe, Russia and Australia and has two commercial divisions:

Dual-Fuel(TM) Vehicle Systems

Delivery of patented Dual-Fuel(TM) systems which include fully-interfaced systems developed in partnership with truck manufacturers and the Group's Genesis-EDGE system, developed in-house as an after-market solution. Dual-Fuel(TM) is a type of system that adapt diesel engines to run on a combination of diesel and natural gas whilst retaining engine's basic infrastructure. The Division sells systems to truck manufacturers for on-line assembly, approved partners for after-market installation or direct to customers through its own installation facilities. The Division also undertakes design and development work for governments and truck manufacturers on Dual-Fuel(TM) and next-generation systems.

Components

Design and manufacture of innovative hydraulic valves, injectors and filters for natural gas engines sold to truck manufacturers around the world.

Initially founded in the USA in 1991, around GBP50m has been invested in developing the technology with the result that 69 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.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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