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Clean Air Power has announced the award of a funded concept development agreement with a global truck manufacturer, under which it will work with Ricardo to develop a dual-fuel engine for a South East Asian Market. The purpose of the development programme 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. Subject to a successful concept phase, expected to last six months, the agreement will then enter a second stage to bring the advanced dual-fuel engine to start of production. In late 2013 Ricardo and Clean Air Power announced that they had entered into an agreement for the development of the dual fuel engine business, aiming to strengthen the offering to clients of both companies. Bringing together Ricardo's system integration expertise with CAP's dual-fuel technology of compression ignited diesel engines that use natural gas with diesel pilot ignition, the development announced today is the first major contract to arise from the collaboration between the two companies. "It is a pleasure to be announcing a concept study so quickly after entering the cooperation agreement with Ricardo," commented Clean Air Power CEO John Pettit. "This is a very exciting but challenging program which highlights the interest in our technology in major world markets including Asia." "We congratulate Clean Air Power on the announcement of the award of this important project," added Ricardo, Inc. president Tom Apostolos. "This achievement serves as a highly tangible validation of our strategy of collaboration with Clean Air Power, combining its market leading dual-fuel engine technology with Ricardo's expertise in vehicle systems integration, and hence providing significant value to customers on a global basis."
Appointment of Non-Executive Director UniVision, the AIM quoted Hong Kong based designer and installer of digital surveillance and integrated security systems, is pleased to announce the appointment of Nicholas Lyth as a Non-Executive Director of UniVision with immediate effect. Nicholas is a qualified chartered management accountant and has over 12 years experience as a finance professional, having spent a number of years as director of UK companies. He has lived and worked in China and can speak and write Mandarin. Nicholas is currently Non Executive Chairman of Taihua plc, an AIM quoted manufacturer of pharmaceuticals, based in China. UniVision are also pleased to announce that they have recently appointed Jack Hong as the President of Leader Smart Engineering (Shanghai) Limited ("Leader Smart"), the Group's wholly owned subsidiary in the People's Republic of China ("PRC"). Jack will be responsible for overseeing, developing and managing the operations of Leader Smart and for growing UniVision's presence in Electrical & Mechanical ("E&M") in China where the Group has a new regional branch office in Fuzhou, PRC. Stephen Koo, Chairman of UniVision, commented: "We are delighted that Nicholas has agreed to join the Board of UniVision. Being based in the UK, he will be well positioned to liaise with our UK investors on a more frequent basis. We are looking forward to working with Nicholas going forward and in the next stage of the Group's development. We are also pleased that Jack has joined the Group to help grow our China E&M operations." Nicholas Lyth commented: "I am delighted to join the Board of Univision at this exciting time for the Group. I am sure that I can bring my experience both in China generally and with Taihua plc specifically to enhance shareholder value. As Stephen says, I will be responsible for day to day liaison with UK investors and I look forward to elaborating on Univision's strategy with them."