Orders up at Clean Air Group
CLEAN Air Power, which is developing dual-fuel engine management systems for heavy duty vehicles, said orders for its units rose by 33% during the year.
In a trading update the Leyland company, whose recent £5m fundraising was supported by Chelsea FC owner Roman Abramovich, said it sold 400 units, up from 300.
However, this figure is slightly below market expectations but as a result of a “different sales mix” the reported loss for the year will be lower than forecast.
The company said: “Demand for our products is expected to continue to increase in 2014 due to interest from several large UK fleet operators and the opening of a number of new natural gas refuelling stations.”
Clean Air has also been active in the US and in Russia where major gas suppliers are investing in a refuelling network.
Chief executive John Pettitt said: “Growing demand for our dual-fuel products in Europe has seen orders in 2013 significantly exceed those seen for the full year 2012 and I am hopefully that orders will continue to rise in what will be an opportunity rich environment in 2014.
“The long-term trend towards the adoption of natural gas as a road transport fuel around the world continues at pace and our strategy of developing products for the markets of Europe, Russia and the US means that we are well placed to service this rising demand.”
