Clean Air Power, the developer and global leader in Dual‐Fuel engine management software for heavy duty vehicles, and Ricardo Inc., a multi‐industry consultancy for engineering, technology, project innovation and strategy, have entered into a five year non‐exclusive co‐operation agreement for the development of dual fuel engines for potential OEM partners.
Under the terms of the Agreement Ricardo will recommend to its clients, when appropriate, Clean Air Power as its preferred developer and supplier of dual fuel systems and Clean Air Power will, when appropriate, recommend Ricardo as its preferred system integration partner for dual fuel systems developed by the Group.
The agreement serves to strengthen the offering of both companies, by bringing together Clean Air Power’s advanced dual‐fuel technology that enables heavy‐duty diesel engines to run primarily on natural gas, with Ricardo’s system integration expertise to develop products for potential OEM customers. As the system integrator, Ricardo will use its knowledge of engine design and controls experience and system modeling capabilities to develop Clean Air Power’s dual fuel system to meet the specific requirements of a potential OEM partner.
Demand for natural gas vehicles is growing in many of the world’s largest markets driven by the relatively low cost of gas in comparison to diesel and its growing availability to vehicle operators as major gas supply companies invest to expand gas refueling infrastructure. These factors are leading to increasing interest from major vehicle manufacturers and other partners in developing OEM products for markets in North America, Europe and Asia.
John Pettitt, Chief Executive of Clean Air Power said: “Ricardo is a world renowned engineering company and this co‐operation agreement offers further validation of the quality and reliability of our Dual Fuel technology. Our clear medium term strategy is to develop further OEM relationships and through this agreement we have access to the resources and engineering expertise needed to develop additional new OEM products, based on our Dual‐Fuel technology, to meet the growing interest in natural gas vehicles amongst manufacturers. Ricardo is a truly global company and we hope that this agreement will place our Dual‐Fuel system at the forefront of the worldwide trend towards the adoption of natural gas as a road fuel.”
Tom Apostolos, President of Ricardo said: “Natural gas in a duel fuel application offers both fuel economy and cost savings to the large and heavy duty engine industry. This agreement will help our global clients to achieve those savings more quickly, with reduced development time and robust system integration. We are pleased to be working with CAP as a system integrator for their patented dual‐fueltechnology.”
LNG World News Staff, September 25, 2013