25 May 2012

Clean Air launches new product

07/05/2009 Robert Tyerman

Dual fuel technology specialist Clean Air Power (CAP) has launched a system compatible with new European emission standards.

High Wycombe-based CAP, whose Dual Fuel combustion technology enables heavy-duty diesel engines to run on a combination of diesel and natural gas, has launched a version of its ‘Genesis’ system which complies with the ‘Euro 5’ emissions rules, which come into force in October this year. The AIM-quoted company argues the new Genesis can open up new revenue channels which have been closed to CAP because previous Genesis versions were only compliant with the ‘Euro 3’ rules allowing significantly higher emissions than the new regime.

Chief executive officer John Pettitt claims the new Euro 5 Genesis, developed by applying CAP’s patented technology to Volvo’s Euro 5-compliant 13-litre lorry, is a ‘significant milestone’. He argues it will open up the UK and continental European market and ‘provide a useful additional revenue source’.

Floated at £1 in 2006, CAP shares have been mostly dire AIM performers, collapsing to 11.5p by last December. Lately, they have begun to rally, doubling since Growth Company Investor’s January mention to 28p now, valuing CAP at £12.4 million.

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Tags: AIM, Renewables, Speculative punts

Sector: Industrial Engineering

Companies: Clean Air Power

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