10th Feb 2014 11:06
LONDON (Alliance News) - Clean Air Power Ltd Monday said it has entered into a funded concept development agreement with a global truck manufacturer.
The duel-fuel engine management software developer said the deal is to develop a duel-fuel engine for a South East Asian market.
The company said the purpose of the development program is to utilise Clean Air Power's Dual-Fuel 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.
Clean Air said that, subject to a successful concept phase which is expected to last six months, the agreement will then enter a second stage to bring the advanced duel-fuel engine to the beginning of production.
The company noted that the deal is the first programme to be awarded through a cooperation agreement the company entered with Ricardo Inc in September 2013.
Clean Air Power shares were up 5.3% to 7.9 pence Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
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