quotedcleantech

Clean Air Power has announced that delayed sales mean that 2010 revenues will be lower than expected. However, the sales have not been lost and are expected to come through later this year or next year. The delay will also hamper cash generation during the year and a cash call may be required. A loss of £1.1 million had previously been forecast for 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 good news is that a five year supply and development agreement has been signed with Volvo Powertrain. This deal, which covers truck engines, follows an initial agreement at the beginning of 2009. Commercial trials of the Dual-Fuel technology, which could make the engines 30% more efficient, will begin in the UK, Sweden and Thailand.

There is also a development agreement with Volvo Bus, worth £160,000, which will enable the buses to run on Dual-Fuel.

In 2009 Clean Air lost £2.44 million on revenues of £5.79 million. There was £2.94 million in the bank at the end of the year.

At 14.5p a share, Clean Air is valued at £8.12 million.

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