KleenAir Announces Year-End 2000 Results
NEWPORT BEACH, Calif.--April 12, 2001--KleenAir Systems Inc. (OTCBB:KAIR) announced that year-end results included in its 10K filing recently submitted to the SEC indicated a further reduction in loss per share from 11 cents down to 7 cents.Total operating expenses were down from $720,552, to $590,477, due in large part to the fact that the management collectively continued to refrain from drawing any salaries.
Lionel Simons, president, stated, "We are proud of how much we have accomplished at such little cost in furthering our research and development of a truly unique contribution to an improvement in the environment and the nation's health through technology that in years to come will help to significantly reduce air pollution."
During the course of the year successful tests of its KleenAir's NOxMaster(TM) NOx reduction system were conducted on Chinese engines and London taxis. Those tests are ongoing. In addition, the company is working to launch test and evaluation programs with a number of cities and transportation companies both in Southern California and in the Bay Area who have to meet tightening environmental standards with regard to NOx pollution.
A positive relationship has been developed with the Energy Savings Trust in the United Kingdom which during the year funded the U.K. London Taxi test program of its affiliate NOxMaster Ltd. It is anticipated that further programs will be developed with this agency as it relates both to London taxis and other U.K. transportation companies.
It is expected that during the course of this year certification programs will be completed for the California Air Resources Board that will enable the company to commercially launch its products with full governmental approvals. Once this happens then the company will be positioned to secure contracts in California and elsewhere in the United States working with its distributor Cummins West Inc.