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US Genesis EDGE Dual-Fuel Distribution Agreement

12 Mar 2015 07:00

RNS Number : 2491H
Clean Air Power Limited
12 March 2015
 

12 March 2015

 

Clean Air Power Limited

("Clean Air Power")

 

US Genesis EDGE Dual-Fuel™ Distribution Agreement

 

Clean Air Power (AIM:CAP), the developer and global leader in compression-ignited natural gas engine systems for heavy duty vehicles is pleased to announce that it has signed a distribution partnership agreement with Bruckner Truck Sales, Inc. ("Bruckner's"), the leading Volvo and Mack dealership in the Southwestern region of the US.

 

Headquartered in Texas, Bruckner's operates 22 dealerships at locations across Colorado, Kansas, New Mexico, Oklahoma and Texas. In partnership with Clean Air Power, Bruckner's will offer a full installation and support service to the first customers of Clean Air Power's Genesis-EDGE Dual-Fuel™ system in these key launch states.

 

The Southwestern region of the US represents an important launch market for the Genesis-EDGE Dual-Fuel™ system due to high diesel to natural gas price differentials and significant state incentives for natural gas vehicles. In Colorado, for instance, tax incentives are available for up to 55% of the capital cost of the system and Oklahoma offers similar incentives for up to 45% of the capital cost. Together these factors make the business case for Genesis-EDGE Dual-Fuel™ system compelling, more than halving the average payback period.

 

John Pettitt, Chief Executive of Clean Air Power, said: "I am delighted that we have formalised our partnership with Bruckner's and are now ready to win the first orders for our Genesis EDGE Dual-Fuel™ product in this key part of the US market. Our Dual-Fuelsystem is the only such system to have achieved full EPA certification and as a long established Volvo and Mack dealer with a loyal customer base, Bruckner's is the ideal partner to support its launch ."

 

Brian Bruckner, President of Bruckner's Trucks, said: "Demand for natural gas vehicles in the US is growing and we anticipate that Clean Air Power's Genesis EDGE Dual-Fuel™ system will help us by offering a differentiated product that delivers real fuel cost savings ."

 

Enquiries:

 

Clean Air Power

Tel: +44 (0)1772 624 499

John Pettitt, Chief Executive Officer

 

Neill Skinner, Chief Financial Officer

 

 

 

Citigate Dewe Rogerson

Tel: +44 (0)20 7282 2867

Malcolm Robertson

 

Chris Gardner

 

 

 

Panmure Gordon

Tel: +44 (0)20 7886 2500

Corporate Finance

 

Freddy Crossley / Atholl Tweedie

 

Corporate Broking

 

Tom Salvesen

 

 

 

Peat & Co

Tel: +44 (0)20 3540 1721

Charlie Peat

 

 

 

 

About Clean Air Power

 

Clean Air Power designs, develops and delivers compression-ignited natural gas engines for heavy duty transport applications and manufactures innovative hydraulic valves, injectors and filters for natural gas engines sold to truck manufacturers around the world. Clean Air Power's patented Dual-Fuel™ and second-generation MicroPilot technology enables engines to run on natural gas mixed with diesel (or any suitable combustion fuel) providing the "spark" that ignites the gas. Substituting natural gas for diesel cuts fuel costs, emissions of carbon, nitrous oxide and particulates whilst retaining the original engine's power, efficiency and reliability characteristics. Clean Air Power operates, directly or through distributor partnerships, in the US, Europe, Russia and Australia.

 

Initially founded in the USA in 1991, over $90m 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

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCKMGMFVZFGKZG
Date   Source Headline
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3rd Sep 20154:42 pmRNSSale to Vayon Holdings Limited
12th Aug 20157:30 amRNSSuspension - Clean Air Power Limited
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15th Jul 20157:00 amRNSUpdate on the Review of Strategic Options
26th Jun 20152:41 pmRNSAppointment of Financial Advisers
23rd Jun 20153:33 pmRNSTrading Update
13th May 20157:00 amRNSResult of AGM
22nd Apr 20157:00 amRNSDirector Share Options
21st Apr 20157:00 amRNSNew Order for Components Division
16th Apr 20157:00 amRNSNotice of AGM
9th Apr 20157:00 amRNSCalifornia Air Resources Board Certification
23rd Mar 20157:00 amRNSAnnual Financial Report
23rd Mar 20157:00 amRNSResearch Grant Extension with Brunel University
12th Mar 20157:00 amRNSUS Genesis EDGE Dual-Fuel Distribution Agreement
2nd Mar 20157:00 amRNSMicroPilot Technology Update
9th Feb 20154:15 pmRNSHolding(s) in Company
6th Feb 20157:00 amRNSUS Dual-Fuel Product Achieves EPA Certification
3rd Feb 20157:00 amRNSContract for MicroPilot demonstration vehicle
15th Jan 20157:00 amRNSMicroPilot Technology Update
15th Jan 20157:00 amRNSTrading Update
19th Dec 20147:00 amRNSDirectors' Fee Salary Sacrifice
17th Dec 20147:00 amRNSUS Genesis-EDGE meets emissions requirements
11th Nov 20147:00 amRNSTrading Update
30th Sep 20147:00 amRNSInterim Results
25th Sep 20147:00 amRNSUS Genesis-EDGE Product Update
19th Sep 20147:00 amRNSTrading Update
10th Sep 20147:00 amRNSLetter of Intent with global truck manufacturer
6th Aug 20141:05 pmRNSIssue of Equity
27th Jun 20149:56 amRNSIssue of Equity and Directors' Interests
27th Jun 20147:00 amRNSPlacing to raise up to £1 million
19th Jun 20147:00 amRNSResults of internal testing of US Genesis-EDGE
18th Jun 20144:41 pmRNSResult of AGM
12th Jun 20147:00 amRNSBoard Appointment
28th May 20147:00 amRNSNotice of AGM
6th May 20147:01 amRNSStart of research collaboration
27th Mar 20147:00 amRNSChange of adviser
20th Mar 20147:00 amRNSExercise of Options, Issuance of Shares, TVR
17th Mar 20147:00 amRNSDirectorate Change
14th Mar 20147:00 amRNSFinal Results
24th Feb 20147:00 amRNSOrder from Sainsbury's for Genesis-EDGE product
20th Feb 20147:00 amRNSNew Order for Natural Gas Injectors
18th Feb 20147:00 amRNSMajor Order for Dual-Fuel Product
10th Feb 20147:00 amRNSConcept Development Agreement
8th Jan 20147:00 amRNSDirector Resignation
2nd Dec 20137:00 amRNSTrading Update
20th Sep 20139:00 amRNSGrant of Options

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