CAP.L Share News (CAP)

(ShareCast News) - Clean Air Power said it is evaluating the expressions of interest received from a number of parties to buy the company following an independent review of its strategic options.Following a review conducted by KPMG, the natural gas manufacturer said a number of parties have shown interest in purchasing all or a part of the company.It explained the decision to extend the first phase of its South East Asian MicroPilot program instead of proceeding with the second and full production phase has put pressure in its short-term cash flows.The fall in oil prices also hurt sales in its Genesis-EDGE products in the US and Russia.Chief executive John Pettitt said: "KPMG have been extensive in their work to secure the long term financial stability of the group and we will continue to work with KPMG over the next few weeks to deliver the best solution for all stakeholders, recognising that the group's short term financial position may act as a constraint on our ability to maximise the value of the group."Shares were down 1.82% to 1.35p on Wednesday at 13:22.