14th Sep 2009 07:00
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For Immediate Release |
14 September 2009 |
Clean Air Power Ltd
("Clean Air Power" or "the Company")
Order for Demonstrator Model
Clean Air Power (AIM : CAP), the developer of Dual-Fuel™ combustion technology that enables heavy-duty diesel engines to operate on a combination of diesel and natural gas, is pleased to announce that it has been awarded a contract to supply a demonstrator tipper truck to VSE, Vale Soluções em Energia ("VSE").
VSE was established two years ago by Vale, a Brazilian mining company which is currently the second largest in the world, to develop solutions in power generation utilising renewable or "greener" sources of energy. VSE approached CAP in July this year in their quest to source technology to enable Vale's off road vehicles to run on natural gas. As a result CAP has won a contract for $355,000 to supply a demonstrator 8x4 axle tipper truck to VSE by 31 December 2009,
The demonstrator tipper will be a Scania unit fitted with CAP's patented Genesis Dual-Fuel™ retrofit unit.
John Pettitt CEO, commented:
"Although this order is for only one demonstrator model currently, this is a significant development for Clean Air Power. Our technology was noticed by VSE, who approached us and it is our first venture into Brazil, a very interesting market where natural gas is widely available and commonly used as a road fuel."
For further information please contact:
Clean Air Power +44 (0)1494 527110
John Pettitt, Chief Executive
Peter Rowse, Finance Director
Buchanan Communications +44 (0)20 7466 5000
Charles Ryland
Ben Willey
Ben Romney
Charles Stanley Securities (Nominated Adviser) +44 (0)20 7953 2000
Freddy Crossley
Jen Boorer
Notes to Editors
About Clean Air Power
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.
Initially founded in the USA in 1991, around £40m has been invested in developing the technology with the result that 63 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
Related Shares:
CAP.L