CEO concern over falling revenue for Clean Air Power

LANCASHIRE-based dual-fuel specialist Clean Air Power has suffered a 31% decrease in revenue, down from to £6.8m from £9.9m.

Underlying profit was £2.1m, down from £2.7m with the difference due to lower sales volumes.

Chief executive John Pettitt said although the company was making good progress, this would be a very challenging year for CAP.

The company recently announced a a major partnership agreement with US truck dealer Bruckner for the installation and support of its Genesis Edge system in 22 dealerships across the Colorado, Kansas, New Mexico, Oklahoma and Texas.

“We remain confident about US Genesis-Edge sales,” he said. “Nevertheless, this will be a very challenging year for Clean Air Power.

“There is a risk to the group’s ability to continue as a going concern if we cannot increase our headroom, but we expect that to be successful.”

Meanwhile the company has been awarded a 12 month extension to its two year funding research project with Brunel University London.

The projects is aimed at developing the next generation of advanced dual-fuel combustion systems.
The research grant has been awarded by the Government’s Innovate UK organisation through its Knowledge Transfer Partnership (KTP) scheme.

It will enable further investigation and optimisation of the Leyland company’s second generation MicroPilot technology on heavy duty dual fuel engines operating in advanced and low-emission combustion modes.

The project is to be carried out on a modern heavy-duty research engine at Brenel’s Centre for Advanced Powertrains and Fuels.

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