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Clean Air Power Completes Engine Management System Project
Tuesday, 07 August 2007

UK based dual-fuel system developer, Clean Air Power Ltd (CAP) says the company has completed their latest engine management system project, upgraded software which the company says will be used in all future CAP dual-fuel products. In a statement released earlier this month, the company says the new software could make Euro V emissions possible without OEM participation, though “a cooperation agreement with a major truck or engine manufacturer remains the number one priority”.

The trading statement indicates that the Board is confident of a cooperation agreement with a European based manufacturer within the coming year.

Difficulties with installations of the CAP systems in Australia have led to the company taking control of installations on an order for 50 systems for Mitchell Corp in Perth, with the company applying specifications arising from their latest development project. CAP says these issues have resulted in year end sales projections not being met. Installations with other Australian fleets are meanwhile continuing.

With the CAP share price on the AIM board of the London Stock Exchange currently hovering around 30p, after listing at ?1 in March last year, the company is “considering its options for raising further funds during the remainder of the current year in order to fund the development of a Euro V solution and to progress activity with manufacturers”.

Source: NGV Global