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3 Aug 2015 15:26
3 August 2015
Clean Air Power Limited
("Clean Air Power", the "Company" or the "Group")
Directorate Change
Clean Air Power (AIM: CAP), today announces that Dr. Ulrich Wöhr and Prof. Dr. Karl-Viktor Schaller have stepped down as non-executive directors of the Group with immediate effect.
Dr. Wöhr and Prof. Dr. Schaller have contributed significant engineering and technical expertise to the Board since their appointments in 2006 and 2010 respectively. However, as announced on 28 July 2015, the Board remains in discussion with a number of parties that may or may not lead to an offer for all or part of the Group, and Dr. Wöhr and Prof. Dr. Schaller have decided that this was an appropriate time to resign from the Board.
Rodney Westhead, Chairman of Clean Air Power, said: "The Board thanks Dr. Wöhr and Prof. Dr. Schaller for their significant contribution to the Company and for their support throughout this strategic review process. Their engineering and technical expertise and guidance proved hugely valuable in promoting our world leading compression-ignited natural gas systems and both leave the Board with our best wishes for the future."
For further information, please contact:
Clean Air Power John Pettitt, Chief Executive Neill Skinner, Chief Financial Officer
| Tel: +44 (0)1772 624 499 |
Citigate Dewe Rogerson Malcolm Robertson
KPMG Corporate Finance Jonathan Boyers Pinesh Mehta
Panmure Gordon Corporate Finance Freddy Crossley / Russell Cook / Atholl Tweedie Corporate Broking Tom Salvesen
Peat & Co Charlie Peat John Beaumont | Tel: +44 (0)20 7282 2867
Tel: +44 (0)20 7311 1000
Tel: +44 (0)20 7886 2500
Tel: +44 (0)20 3540 1721
|
Notes to Editors
About Clean Air Power
Clean Air Power designs, develops and delivers diesel ignited natural gas engines for heavy duty transport applications. Clean Air Power's technology substantially cuts 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 £50m has been invested in developing the technology with the result that 59 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
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