18 Feb 2014 07:00
18 February 2014
Clean Air Power Limited
("Clean Air Power" or the "Group")
Major Order for Genesis-EDGE Dual-FuelTM Product
Clean Air Power (AIM: CAP), the developer and global leader in Dual-Fuel engine management systems for heavy duty vehicles, is pleased to announce that it has received an order for 19 Genesis-EDGE, Dual-FuelTM trucks from a major distribution company in the UK. The order has a value to Clean Air Power of around £0.5 million.
The trucks will be fitted with Clean Air Power's Genesis-EDGE system at its facility in Leyland, UK and delivered during Q1 2014. The customer already operates more than 100 Clean Air Power Dual-Fuel vehicles in its UK distribution fleet and this repeat order demonstrates their continuing satisfaction with Clean Air Power's products.
John Pettitt, Chief Executive of Clean Air Power said:
"This is a significant follow-on order for our Genesis-EDGE product from this customer and adds to 28 Dual-Fuel systems that we have already delivered so far this year following orders placed in 2013. The strong demand for our products is being driven by the expansion of Europe's natural gas refuelling network and the increased supply of vehicles available to retrofit as a result of the high level of late Euro 5 vehicle purchases made at the end of 2013. With further European orders expected imminently and the launch of new products in the US and Russia coming later this year I am confident that the Company is on-course to meet market expectation in 2014."
For further information, please contact:
Clean Air Power John Pettitt, Chief Executive Peter Rowse, Finance Director
| Tel: +44 (0)1772 624 499 |
Citigate Dewe Rogerson Malcolm Robertson Chris Gardner
Cantor Fitzgerald Europe David Foreman / Mark Percy (Corporate Finance) David Banks / Paul Jewell (Corporate Broking)
Peat & Co Charlie Peat Andy Cuthill
| Tel: +44 (0)20 7282 2867
Tel: +44 (0)20 7894 7000
Tel: +44 (0)20 7894 7632
Tel: +44 (0)20 3540 1721
|
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 £50m has been invested in developing the technology with the result that 69 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