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Clean Air Power Ltd

  • BY: Andrew Hore |
  • POSTED: 15/09/2011 |

Clean Air Power Ltd (CAP) says that the launch of full scale production of its Dual-Fuel product with Volvo has been delayed because of manufacturing problems.

CAP expects to get factory production back on track this year and reduce the impact on the business. The shares still fell 1.75p to 4p, valuing CAP at £3.8m.

Earlier this year, Volvo announced that it is opening a production line for engines incorporating the Dual-Fuel technology developed by CAP, which enables diesel or natural gas to be used as fuel. That provides additional credibility for the technology. This should help CAP to successfully enter the US market, which has significant growth prospects and competitive technology that is dearer than CAP’s Dual-Fuel technology. 

The delay and lower revenues from other parts of the business mean that CAP will not meet expectations for 2011. House broker Seymour Pierce had expected 2011 revenues of £7.89m.

Interim figures will be released on 30 September.

Download the September 2011 edition of AIM Journal at http://www.hubinvest.com/AIMPDFSeptember2011_24.pdf

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