8 Jan 2014 07:00
8 January 2014
Clean Air Power Limited
("Clean Air Power" or the "Company")
Director Resignation
Clean Air Power (AIM:CAP), the developer and global leader in Dual-Fuel engine management systems for heavy duty vehicles, announces that Pete Rowse has given notice of his intention to resign from the Board and as Group Finance Director to pursue another business opportunity. A date for the transition is to be determined but Pete will remain with the Group to complete the financial reporting for the 12 months ending 31 December 2013 and to help ensure an orderly succession. A further announcement will be made in due course regarding Pete's successor.
John Pettitt, Chief Executive of Clean Air Power said:
"I have enjoyed working with Pete for the past eight years during which time he has made a huge contribution to the business. The Finance team is well organised and prepared for the future. I recognise that this new opportunity fits well with his personal ambitions and wish him well in his new role."
Rodney Westhead, Non-executive Chairman
"The Board would like to thank Pete for his work and dedication to the Company over the last eight years and wish him well with his future career."
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 65 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
CAP.L (CAP)