KleenAir Systems is beginning to generate revenues from the London Low Emission Zone.
They were too late to affect the figures for the year to September 2007, though. Reported revenues were £35,000, while the loss was £825,000.
Vehicle exemptions mean that the potential market for heavy goods vehicle conversions has been cut from 24,000 to less than 10,000 vehicles. KleenAir has around 8% of the market and is gearing up for the next phase of LEZ which covers smaller lorries.
Other UK cities have been slow in following suit but eight authorities are considering a LEZ.
Around £1m was raised for the company by CSS Partners in February 2008. That helps to improve the balance sheet and enables KleenAir to invest £300,000 in Nonox, a business that reduces particulate emissions from oil-fired boilers. KleenAir believes that the two technology developed by the two businesses can be combined so NOx emissions can be reduced.
At 13p a share, the company is valued at £3.5m.
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