As Ricardo’s share price on the London Stock Exchange continues to power ahead, the UK-based company has clinched a deal with Clean Air Power Inc. to develop a dual-fuel engine for a South East Asian Market.
On 2 September 2013 the company’s UK share price was 407p; it has now risen to 725p – and increase of nearly 80 percent as the company continues to win major consultancy business in the car, truck, bus, military and urban transportation fields.
Ricardo’s latest contract comes hot on the heels of it signing an agreement with Clean Air Power Inc. (CAP) of Stowe Drive, Poway, California, late last year for the development of the dual fuel engine business. Next year, Ricardo will celebrate its centenary.
The aim of the agreement was to strengthen the offerings of both companies by bringing together Ricardo's system integration expertise with CAP's dual-fuel technology of compression ignited diesel engines that use natural gas with diesel pilot ignition.
Now Ricardo and CAP have announced the award of a funded concept development agreement with a global truck manufacturer, under which the US company will work with Ricardo to develop a dual-fuel engine for a South East Asian market.
Clean Air Power has an operation in the UK at Aston Way, Leyland, Lancs.
The purpose of the development programme is to use CAP’s dual-fuel combustion technology to deliver an advanced dual-fuel engine that not only achieves its emissions objective but also reduces the extent of emissions after-treatment required by the base diesel engine.
Subject to a successful concept phase that is expected to last six months, the agreement will then enter a second stage to bring the advanced dual-fuel engine to start of production.
“It is a pleasure to be announcing a concept study so quickly after entering the cooperation agreement with Ricardo,” commented Clean Air Power chief executive officer John Pettit. “This is a very exciting but challenging program which highlights the interest in our technology in major world markets including Asia.”
“We congratulate CAP on the announcement of the award of this important project,” added Ricardo, Inc. president Tom Apostolos. “This achievement serves as a highly tangible validation of our strategy of collaboration with CAP, combining its market leading dual-fuel engine technology with Ricardo’s expertise in vehicle systems integration, and hence providing significant value to customers on a global basis.”
Only this week there was much rejoicing in Shoreham-based Ricardo when it annnounced it had won a new four-year project to be carried out on behalf of the Directorate-General for Mobility and Transport. This major work aims to develop a web-based policy support tool to help city authorities across the EU identify and implement the most cost-effective strategies for addressing major urban transport challenges.
These include traffic congestion, urban air quality, carbon dioxide emissions and accidents.
Ricardo-AEA will lead the work in partnership with international cities network, ICLEI - Local Governments for Sustainability, and Italian transport consultants TRT Trasporti e Territorio.∎
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