Clean Air Power, the developer of dual-fuel combustion technology that enables heavy-duty diesel engines to operate on diesel and natural gas, reports that the past 12 months were the most successful since its formation in 1991.
John Pettitt, CEO of Clean Air Power, suggests that reasons include the signing of a supply agreement with Volvo Powertrain, a separate development and supply agreements with Volvo Bus, and a concept development agreement with Navistar.
He believes such contracts are recognition of his company's "unique" technology.
"We are delighted to have finalised the supply agreement with Volvo as it signifies the achievement of a major milestone set out at the time of our IPO," states Pettitt.
"The agreement is the result of a long-standing working relationship with Volvo and we are grateful for all the support and belief it has shown in Clean Air Power," he says.
"The Navistar agreement will strengthen further our presence in a major market and provides a real opportunity for growth in the years to come," adds Pettitt.
