Clean Power Technologies Inc. (OTC BB:CPWE.OB; Frankfurt, XETRA:C1L), developer of a unique heat recovery and hybrid power system to reduce vehicle emissions, is pleased to announce an update on its operations, as provided to shareholders at its Annual General Meeting on 15 May 2008.
Since the last AGM in May 2007 the Company has been focusing on the development of a hybrid system for automotive applications. This proprietary Clean Energy Storage and Recovery (‘CESAR’) technology, which captures wasted exhaust heat and utilizes it as steam, will provide 40% better fuel efficiency and a corresponding reduction in emission levels. In comprehensive tests last October Clean Power validated these theoretical fuel efficiency gains, as originally calculated by CESAR’s inventor, Professor Fred Bayley of the University of Sussex. Encouraged by these results the Company has continued further tests in order to obtain an even more detailed data set regarding the operation of the steam system and its fuel efficiency. The Company continues with these tests whilst it accelerates the product engineering phase.
Also in October 2007, the Board decided to focus on truck auxiliary systems and refrigeration units which, driven by widespread anti-idle legislation, provide earlier revenue opportunities than the automobile market. Specifically, Clean Power is developing a steam capture, storage and power system for the diesel engines in refrigerated trailers or ‘reefers.’ This offers the grocery and beverage industries a lower-emission alternative to conventional ‘reefer’ engines which run on increasingly expensive diesel fuel, are costly to maintain, and have both low efficiency and high pollution levels.
In March 2008 the Company appointed a Switzerland-based steam technology specialist Dampflokomotiv-und Maschinenfabrik DLM AG (‘DLM’) to act as its third-party consultant for the further development of the CESAR technology.
In January, the Company employed a full time CAD Designer to work on the product design and development. In March the Company further expanded the team with a full time IT expert to look after all its IT needs and the development process.
In early May 2008 Clean Power leased additional space in Newhaven, UK, to accommodate its corporate office and expanding test cell facility. The company intends to augment its engineering team in the coming year as the work on the product development of the refrigeration engine intensifies
The Company has begun a twin-track process to design a new refrigeration engine for reefers, while holding collaborative discussions with major North American fleet operators. The Company recently signed a Memorandum of Understanding (MoU) with one of the USA’s largest grocery chains, under which Clean Power will use a refrigerated vehicle for data collection on a range of duty cycles from early June and the first initial phase is expected to last approximately 2 weeks. This will be an off site data collection process in order to validate results which will be collected in our test cell.
Clean Power anticipates that a newly-designed reefer engine will be ready for road-testing by early 2009. Following a six-month road trial and analysis, it expects to submit the CESAR technology for regulatory approval under various jurisdictions worldwide, achieving commercialization during the first half of 2010.
Although The Company remains focused on completing this US reefer project on schedule, there is significant interest in its steam hybrid technology for broader applications (including automotive, marine and military) in a wide range of countries. The Company continues to respond to these expressions of interest and will pursue opportunities which are in the best interest of the Company and its Shareholders.
Board of Directors
Following its report to shareholders at the 15 May AGM, and reflecting the evolution of the Company from an IP focus into a commercialisation phase, a revised Board of Directors has been elected. The Company welcomes 2 new members to the Board: Mr Peter Genusso, who is also the Company’s attorney, and Mr Robert Bayley who will guide Clean Power’s technology and partner development programmes through the next 12 months.
Abdul Mitha, President and CEO of Clean Power Technologies, comments: “The company is confident that we will deliver our technology to a transport industry that wants to reduce its fossil fuel consumption, increase the efficiency of its engines and significantly reduce its emissions, whilst at the same time reaping the Corporate and Social Responsibility benefits of Clean Power’s low carbon technology.”
“Clean Power is entering an exciting period in its growth. We are delighted that the CESAR system has demonstrated its technical credentials so successfully in bench testing but are, of course, mindful that many new challenges lie ahead as we work with suppliers and users to maximize its commercial potential. Clean Power’s committed and experienced team is on track to meet the growing global demand for more fuel efficient and environmentally sustainable vehicles.”
ABOUT CLEAN POWER TECHNOLOGIES
Clean Power Technologies is committed to developing hybrid fuel technology and alternative fuel for a range of vehicles, including locomotives, heavy trucks and light cars. The Company’s proprietary technology significantly reduces pollution through its Clean Energy Storage and Recovery (CESAR) system, which takes otherwise wasted heat from the exhaust of a conventional combustion engine and modifies it through a heat recovery system to generate clean power for the vehicle.
The Company boasts a highly experienced engineering team, whose vision and technical capabilities are driving the development and implementation of this unique hybrid fuel technology.
Clean Power Technologies operates out of its development facility in Newhaven, East Sussex. In 2006, testing of the CSEAR system began on a Mazda RX8 passenger vehicle engine, with trials on a second identical engine commencing later that year. In June 2007 testing also began on a Caterpillar C18 diesel engine to explore applications, such as auxiliary power and trailer refrigeration, within the industrial vehicle and truck industries. Testing on the CESAR process began in late October 2007, with initial results already recording a 40% improvement in fuel efficiency.
The Company listed on XETRA on the Frankfurt Stock Exchange in October 2006, and is also traded on the OTC Bulletin Board in the US.
Clean Power’s Clean Energy Storage and Recovery (CESAR) technology is designed to increase vehicle fuel economy and reducing emissions by capturing, storing and reusing otherwise wasted heat from the exhaust of a conventional combustion engine. A heat exchanger captures waste energy, which is then stored in the form of steam in an accumulator, for ‘on demand’ use either in the same ‘primary’ engine, or in a secondary vapour engine. Power can be produced solely by the secondary vapour engine even after the primary combustion engine has shut down.
The CESAR system can be used to power auxiliary truck systems, such as trailer refrigeration and cab cooling or heating, in regulatory ‘no idle’ and ‘quiet’ zones. In addition to initial truck applications, CESAR can be further applied in Clean Power’s well developed passenger car programme in addition to having longer-term potential in the locomotive and marine sectors.
For further information, please contact:
Clean Power Technologies Inc.
Abdul Mitha, President & CEO
Clean Power Technologies Inc.
436-35 Avenue N.W.
Canada T2K 0C1
Tel: + 1 (403) 277 2944
UK mobile: +44 (0) 782 436 5198