Revenue Up 1.8 Million Pounds at Clean Air Power
LONDON -- This morning, Clean Air Power (ISE: CAP.L) , the developer and provider of Dual-Fuel combustion technology for heavy-duty diesel engines, announced encouraging revenue figures for the first half of the year. Revenue was up 1.8 million pounds to 3.9 million pounds, compared with 2.1 million pounds reported for the same period of 2011. It also said that more than 100 systems were delivered during the period compared with 37 a year ago.
Furthermore, a continuation of the promising interest in its range of European products has resulted in a significant increase in orders. The company has now had a total of 250 orders during 2012 for both the Genesis EDGE system and its European OEM product.
John Pettitt, CEO of Clean Air Power, said:
We are gaining very encouraging traction in the European Market with increasing customer demand, a growing order book and a new product offering. Thanks to the increasing customer interest we are confident of the outlook going into the second half of the financial year. We have a clear strategy for the North American market both in the short and medium term and will provide further updates following the evaluation study.
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