Clean Air Power's injectors installed on a Volvo e9
Clean Air Power Ltd (CAP) has released its 2008 Annual Report, with solid results buoyed up by the growing global interest in alternative fuel technologies. Group Revenue increased 38% over 2007; the Gross Profit Margin was up 46%. 2009 is providing positive results to date. Chairman Rodney Westhead states, “The most important element of the Company’s activity in 2009 is likely to be the delivery of our obligations under the recently signed Letter of Intent with Volvo. Engineering activity on the development of products, in conjunction with Volvo, is already well under way.”
2008 Operational Highlights include:
- Development of second demonstration Dual-FuelTM vehicle, for the Volvo Group for exhibition in the United States.
- Delivery of £2.90m (USD 4.75m) Mitchell Corp Pty Ltd order for vehicle systems in Australia.
- £0.50m (USD 0.82m) order for further Dual-FuelTM vehicle systems in Australia by Mitchell Corp, delivered in 2008.
- Delivery of £0.30m (USD 0.49m) Genesis Dual-FuelTM order for Robert Wiseman Dairies in the UK.
- Sainsbury’s launch ‘Running on Rubbish’ campaign using Clean Air Power’s technology.
The Letter of Intent with Volvo Powertrain (Volvo) early 2009 is to incorporate Clean Air Power’s Dual-FuelTM technology with Volvo truck engines. The venture is acknowledged as a key milestone for the Company.
CAPs patented technologies allow an existing diesel engine to operate on a combination of diesel and natural gas with minimal change required to the base engine.
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