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Clean Air Power
- BY: Andrew Hore |
- POSTED: 07/08/2007 |
Disappointing sales mean that diesel technology developer Clean Air Power’s results will be well below expectations and it will require more cash.
The Dual-Fuel combustion technology enables heavy duty diesel truck engines to run on a combination of diesel and natural gas. Clean Air has just completed a project with automotive design company Ricardo that enables it to integrate Dual-Fuel with the latest diesel engines. The company is still trying to find a major truck or engine manufacturer to be its partner.
There have been teething problems with the technology and how it is set up on vehicles. A £1.5m order in Australia has been delayed because the initial vehicles proved unreliable when they were converted. This, and poor sales of the retrofit version in the UK, are major reasons behind the expected short fall in sales this year.
The cash burn is greater than had been thought. Clean Air raised £9m after costs when it floated in 2006 but cash in the bank was down to £5.6m by the end of the year.
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