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Abramovich Shells Out £350,000 For Green Firm Stake
26.08.2013 14:46
Abramovich Shells Out £350,000 For Green Firm Stake
Photo Credit: http://www.cleanairpower.com/dualfuel.php

Roman Abramovich has expanded his footprint in the clean energy industry by purchasing a stake in Clean Air Power, a British firm behind the dual-fuel technology.

      The technology allows vehicles to run on both natural gas and diesel, using the latter as ‘a liquid spark plug’.

      FC Chelsea owner took part in the placing of shares worth £5 million, and acquired 1.5 percent for £350,000, through his Ervington Investments vehicle.

      Clean Air Power announced that it will use part of the cash raised in the issue to ‘support marketing and sales activities in Russian and the US’.

      Russia is seen as an increasingly important market ‘given its expanding natural gas market and growing demand for gas-powered vehicles’, it added.


      




Author: Mikhail Vesely

Tags: Roman Abramovich     

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