3 Jun 2010 07:00
For immediate release 3 June 2010
Clean Air Power Ltd
("Clean Air Power" or "the Company")
Contract Win
New Order for 10 Genesis EDGE Units
Clean Air Power (AIM: CAP), today announces that it has received an order from HAM Group ("HAM") for 10 Genesis EDGE Dual -Fuel™ installations to be fitted on Volvo FM13 tractor units to reduce emission and fuel costs by using CAP's Dual -Fuel™ technology. The order is circa £200,000 in value.
HAM is a leading Spanish liquid natural gas ("LNG") distributor and transport company which distributes LNG throughout Spain, the Balearics, Holland and Italy transporting circa 60 tankers per day and operating approximately 60 tractor units. In addition, HAM operates 80 tractor units on behalf of Air Products and Chemicals Inc. HAM Group designs, constructs and develops LNG and compressed natural gas installations.
This new order follows on from a successful trial HAM has been undertaking for 12 months with a Genesis installation on a Mercedes Axor unit.
Clean Air Power pioneered the move towards using natural gas (methane) as a fuel for heavy goods vehicles by developing patented technologies that enable an existing diesel engine to operate on a combination of diesel and methane, with minimal change required to the base engine.
This new order is for 10 Genesis EDGE units which are more efficient than Clean Air Power's original Genesis system, as it takes increased control of the timing of the diesel injection on the engine, enabling between 60-65% substitution of diesel by methane. The original Genesis product enabled 50% of the diesel to be substituted. In a typical vehicle running for 100,000 miles in the UK the Company estimates that this will create a saving of circa £1,000 per month per vehicle.
Commenting on the contract win, John Pettitt, CEO of Clean Air Power said:
"We are delighted that HAM, after trialling our Genesis system for a year, have ordered 10 new systems of our improved Genesis EDGE Dual -Fuel™ technology. The success of the trial has resulted in this new order which is further confirmation of the potential of our technology."
For further information:-
Clean Air Power Ltd 01494 527110
John Pettitt
Peter Rowse
Buchanan Communications 020 7466 5000
Charles Ryland
Ben Romney
Charles Stanley Securities 020 7149 6000
(Nominated Adviser and Broker)
Russell Cook
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 62 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
About HAM Group
The Ham Group was founded in 1980 and is involved in the design, construction and maintenance of Liquefied Natural Gas plants, the merchandising of gas, the transport and supply of dangerous products, and the management of petrol stations and hotels. HAM is headquartered in Barcelona and today has operations across Spain. Their services have been developed according to the highest standards of quality, safety and hygiene, with an emphasis on environmental sensitivity and compliance of the current legislation in Workplace Risk Prevention.
Further information on HAM Group is available at www.ham.es