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Clean Power Technologies Awarded UK Government Grant for Business Investment

^{Published on 2010-10-27 03:00:51 - Market Wire}
 

NEWHAVEN, U.K.--([ BUSINESS WIRE ])--Clean Power Technologies Inc. (OTCBB:CPWE) (FWB:C1L) ("Clean Power" or the "Company"), a developer of unique systems to reduce emissions and fuel usage by harnessing wasted exhaust energy, is pleased to announce that it has been awarded a funding grant from the UK Government in the form of a Grant for Business Investment (GBI) provided through the South East England Development Agency (SEEDA).

CPT has an investment plan of close to 1 million GBP for development of its Newhaven facility to enable manufacture and commercialisation of its innovative waste heat recovery technologies during 2010 and 2011. The grant is for 20% of phase 1 of the investment plan for specialist machinery and tooling, totalling 200,000 GBP by Q1 2011.

The new equipment is required for manufacture of the first commercial heat recovery units designed to operate on landfill gas powered methane engines, providing electrical power to the national grid. The unique CPT heat recovery units will enable about a further 10% electrical power to be produced purely from the waste exhaust heat energy of each engine. CPT is currently operating a prototype unit at a UK landfill site, and has a number of further planned installations at other sites in the UK.

SEEDA assessed many aspects of CPT before awarding the grant, including the strength of CPTa™s innovation, commercialisation and exports potential, and employment and business development potential for the Newhaven and South East area.

Mike Burns, CPT Chief Technical Officer, said: aWe are aware of how selective the UK government is with its grants and are very appreciative of their recognition and contribution towards the work that we are doing in Newhaven. What we have developed at CPT is not only a product, but a technology with huge potential to improve the efficiencies of engines and power generating systems in many applications now and in the future. I am delighted that SEEDA has recognised the benefits that the growth of CPT will bring to Newhaven, the South East region and the UK in general.a

SEEDA Executive Director of Business Development Susan Priest said, aSEEDA is delighted that it is able to support Clean Power Technologiesa™ investment in machinery that will support its business in an exciting period of growth. The Grant for Business Investment will help the company to create much needed high value added jobs in Newhaven, as well as reducing the South Easta™s carbon footprint through the application of the waste heat recovery technology.a

About Clean Power Technologies

Clean Power Technologies is a specialist design engineering firm which has developed a range of systems to capture waste heat and convert it to electricity. The Company's proprietary technology significantly increases power generation efficiency through its Clean Energy Separation And Recovery (CESAR) system. CESAR can be installed on any heat source of sufficient temperature and generates a continuous source of clean electricity from wasted heat energy. The system provides significant commercial benefits while simultaneously reducing green house gas emissions and heat pollution. CESAR has a variety of power generation applications such as landfill gas, natural gas, biomass, bio-gas and diesel gen-sets.

For more information, please visit: [ www.cleanpowertechnologies.com ].

About SEEDA

SEEDA, the South East England Development Agency, is the government-funded agency responsible for the sustainable economic development of the South East of England a" the driving force of the UKa™s economy. Through supporting businesses, encouraging innovation, developing skills, and engaging with public and private partners, we aim to create a successful, sustainable future for the region.

For more information, please visit: [ www.seeda.co.uk ].