18th Jun 2008 07:00
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For Immediate Release |
18 June 20088 |
Clean Air Power Limited
("Clean Air Power" or "the Company")
New Orders Won
Clean Air Power Limited (AIM: CAP), the developer of Dual-Fuel™ combustion technology that enables heavy-duty diesel engines to run on a combination of both diesel and natural gas, is pleased to announce that it has won another important order in Australia for 10 systems.
Dual-Fuel™ SYSTEMS
In January 2007, the Company announced a significant order when Mitchell Corp Australia Pty Ltd (Mitchell), a bulk logistics solutions provider, ordered 50 systems worth a total of approximately £1.5m. That contract also included an option for a further 20 systems and in September 2007 this option was taken up.
With the installation of these 70 conversions now almost complete Clean Air Power is pleased to announce that Mitchell has ordered another 10 systems worth approximately £0.5m for delivery during 2008. This brings the total Mitchell revenue from these orders to around £2.9m. This additional new order further confirms Mitchell's confidence in Clean Air Power's Dual-Fuel™ technology systems reducing emissions and providing considerable fuel cost savings.
The Australian truck market is one of the most demanding in the world with very heavy vehicle weights and extreme ambient temperatures. The Company is encouraged by its ability to further prove its technology and achieve sales growth in such a demanding operating environment. Additionally, with a relatively immature gas supply infrastructure the considerable benefit of a Clean Air Power Dual-Fuel™ vehicle to operate on 100% diesel, if required, remains a significant benefit which applies in Australia as in all other markets.
EMISSIONS TREATMENT DIVISION
Another significant order has also been received by Clean Air Power's Emissions Treatment division based on Houston, USA. This is for £120,000 and delivery is planned for September 2008. The Emissions division is also in the process of delivering a previously announced £0.5m order.
John Pettitt, CEO, commented: "We are delighted to receive this additional order from Mitchell which will help them achieve their financial and environmental objectives. Mitchell's commitment to natural gas will save around 15,000 tonnes of CO2 emissions per year. The Clean Air Power Dual-Fuel™ product is proven, the product benefits are compelling and there is a strong spirit of cooperation with our partners and customers in Australia."
For further information contact:
Clean Air Power
John Pettitt, Chief Executive
Peter Rowse, Finance Director
Tel: +44 (0)1494 527110
Canaccord Adams Limited
Robert Finlay
Bhavesh Patel
Tel: +44 (0)20 7050 6500
Buchanan Communications
Charles Ryland
Ben Willey
Ben Romney
Tel: +44 (0)20 7466 5000
Notes to Editors:
Clean Air Power is the developer and provider of Dual-Fuel™ combustion technology for heavy duty diesel engines. Dual-Fuel™ 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.
Further information on Clean Air Power is available at www.cleanairpower.com
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