News blog
Clean Air Power
- BY: Andrew Hore |
- POSTED: 19/07/2009 |
Clean Air Power Ltd has signed an extension of its letter of intent with Volvo and now expects to sign a contract in the early autumn.
A formal contract was expected to be finalised in the middle of 2009. The first commercial products could still be available in 2010.
Clean Air’s Dual-Fuel combustion technology enables heavy-duty diesel engines to run on a combination of both diesel and natural gas. The technology will be integrated with Volvo’s engine management system and that should improve efficiency.
During May 2009, Clean Air raised £2.38m gross at 21.85p a share. At 25p a share, Clean Air is valued at £13.8m.
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