LONDON (Alliance News) - Clean Air Power Ltd shares rose strongly early Thursday after the company said it has signed a distribution partnership with Bruckner Truck Sales Inc in the US, giving it exposure to the southwestern region of the US, where Bruckner runs Volvo and Mack dealerships.
Clean Air, which makes compression-ignited natural gas engine systems for heavy duty vehicles, said tax incentives of up to 55% of the cost of capital are available for natural gas vehicles in Colorado, with similar incentives available for up to 45% in Oklahoma, two markets in which Bruckner is active.
Clean Air did not provide any financial details on the agreement.
"I am delighted that we have formalised our partnership with Bruckner's and are now ready to win the first orders for our Genesis EDGE Dual-Fuel product in this key part of the US market," said Chief Executive John Pettitt.
Clean Air shares were up 22% to 3.5 pence on the news, the best performer in the AIM All-Share index.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
