WARRENVILLE, Ill., Feb 09, 2010 (BUSINESS WIRE) -- Navistar, Inc. (NYSE: NAV) has signed a concept development agreement
with Clean Air Power Ltd. (AIM: CAP) to develop Navistar's MaxxForce(R)
13 big bore engine to run on natural gas and clean diesel fuel for the
North American market.
"This agreement supports Navistar's strategy of product leadership,
offering our customers differentiated products merging the unique skills
of Clean Air Power in natural gas combustion and the knowledge Navistar
has in diesel combustion," Jack Allen, president of Navistar's North
American Truck Group. "The volatility of global diesel fuel prices and
the significant natural gas reserves available in the United States make
natural gas an attractive option for customers focused on managing their
fuel costs."
The program will utilize Clean Air Power's Dual-Fuel(TM)
combustion technology to deliver a MaxxForce 13 Advanced EGR engine that
is fully compliant with the U.S. Environmental Protection Agency's (EPA)
2010 on-highway diesel emissions, without the use of liquid-urea SCR
(selective catalytic reduction). Upon successful concept development,
the two companies will move forward to product development and
validation.
"As we assess changing market conditions, the ability to offer customers
choice is important not only in our U.S. markets, but in our global
markets as well," said Eric Tech, president, Navistar Engine Group. "As
we develop this product for our International(R) brand truck
customers, we will also be able to leverage the technology in other
markets and products as appropriate."
MaxxForce 13 natural gas engines utilizing Clean Air Power's Dual-Fuel
combustion technology will initially target the regional haul tractor
market with a goal of a achieving a 400-mile range.
"By working with Clean Air Power we will be developing a dual fuel
engine that will provide customers with a true big bore natural gas
powered engine," added Jack Allen. "The MaxxForce 13 natural gas engine
will meet Class 8 customer weight and performance requirements, which
are not being met by competitive products today."
Navistar maintains a long-standing commitment to environmental
stewardship combined with providing customer friendly technologies, like
Navistar's MaxxForce Advanced EGR (exhaust gas recirculation) technology.
"We are very pleased to work with Navistar to advance the Dual-Fuel
product development of Navistar's MaxxForce 13 to deliver clean fuel
technology consistent with Navistar's customer-focused strategy," said
John Pettitt, CEO, Clean Air Power.
About Navistar
Navistar International Corporation (NYSE: NAV) is a holding company
whose subsidiaries and affiliates produce International(R)
brand commercial and military trucks, MaxxForce(R) brand diesel
engines, IC Bus(TM) brand school and commercial buses, Monaco RV
brands of recreational vehicles, and Workhorse(R) brand chassis
for motor homes and step vans. It also is a private-label designer and
manufacturer of diesel engines for the pickup truck, van and SUV
markets. The company also provides truck and diesel engine service
parts. Another affiliate offers financing services. Additional
information is available at www.Navistar.com/newsroom.
About Clean Air Power
Clean Air Power is the developer and provider of Dual-Fuel(TM)
combustion technology for heavy duty diesel engines. Dual-Fuel(TM)
engines substantially cut fuel costs and carbon emissions without
sacrificing the original engine's characteristic efficiency or
reliability. Clean Air Power is well positioned to assist corporations
and governments to deliver on their environmental commitments while at
the same time reducing overhead for transport operators. Initially
founded in the United States in 1991, more than $60 million (USD) has
been invested in developing the technology with the result that 63
patents are currently held or pending. The holding company of the Group
is based in Bermuda with operational subsidiaries in the U.K., the
United States and Australia. The Group was admitted to the AIM market of
the London Stock Exchange in February 2006. Further information on Clean
Air Power is available at www.cleanairpower.com.
SOURCE: Navistar, Inc.
Navistar International Corporation
Business media contact: Roy Wiley, 630-753-2627
Trade media contact: Steve Schrier, 630-753-2264
Investor contact: Heather Kos, 630-753-2406
Web site: www.Navistar.com/newsroom
Copyright Business Wire 2010