CDTi to Supply Advanced Materials Technology to India’s Fast-Growing Automotive Market
September 27 2016 - 8:00AM
- Establishes strategic partnership with
Süd-Chemie India to commercialize BMARS™, MPC® and SPGM™
technologies -- Supply Agreement concluded - - CDTI expands to new
geographic region in Asia - - Advancing powder-to-coat
delivery model in catalyst coating operations -
Clean Diesel Technologies, Inc. (Nasdaq:CDTI) (“CDTi” or “the
Company”), a leader in advanced emission catalyst technology, and
Süd-Chemie India Pvt. Ltd. (SCIL) have signed a strategic
cooperation agreement for CDTi’s Advanced Material Technology to be
sold by SCIL in its market. Founded in 1969, SCIL is a leading
supplier of Diesel Oxidation Catalysts (DOCs) and Three-Way
Catalysts (TWCs) for major OEMs in India and abroad, supplying over
a million catalytic converters annually. SCIL is a joint venture
company with Clariant International of Switzerland, one of the
world’s leading specialty chemical companies.
SCIL’s initial focus will be on certain Original Equipment (OE)
platforms using CDTi’s Mixed Phase Catalyst (MPC®), Base Metal
Activated Rhodium Support (BMARS™) and Synergized PGM (SPGM™) DOC
in catalysts for gasoline-engine passenger cars, light- and
heavy-duty diesel vehicles and 2- and 3-wheel applications and off
road engine systems. Spinel™ technology will be exploited in key
TWC applications for longer term targets. The agreement grants
exclusivity subject to performance. The launch of the
Powder-to-Coat (P2C™) phase of the relationship is expected by the
end of this year. A Supply Agreement has also been concluded to
cover the commercial terms of supply of CDTi powder
technologies.
“CDTi continues to focus on accelerating the execution of our
advanced materials strategy in fast-growing markets, and our
strategic partnership agreement and Supply Agreement with SCIL
achieves a new milestone in India,” stated Matthew Beale, CDTi’s
CEO. “To leverage our breakthrough advanced materials technology,
we have selected the most well-positioned partners in our chosen
markets. As a pioneer in the field of catalysis, SCIL has advanced
production facilities and is equipped to cater to the needs of both
Indian and international catalyst markets. SCIL has carried out
initial validation of our technology and we are now firmly in the
commercialization stage. With established coating capabilities and
an extensive list of flagship customers, SCIL is the right partner
with which to expand our market in this new geographic region.”
“SCIL is dedicated to contributing to the reduction of emissions
from engine exhaust,” stated Mr. Touquire A Siddiquie, Assistant
Vice President – Environmental Catalysts, SCIL. “We chose CDTi’s
advanced materials technology based on our belief that it will
significantly reduce the use of platinum group metals (PGMs) and
enable improved functionality for more stringent emission standards
of the future. By capitalizing on the associated cost reductions
and using state of the art powder technology, SCIL believes we can
create competitive advantages for our current as well as new
business. Using CDTi’s P2C delivery model, SCIL can easily scale
production to meet demand.”
About CDTiCDTi develops advanced materials
technology for the emissions control market. CDTi’s proprietary
technologies provide high-value sustainable solutions to reduce
hazardous emissions, increase energy efficiency and lower the
carbon intensity of on- and off-road combustion engine systems.
With a continuing focus on innovation-driven commercialization and
global expansion, CDTi’s breakthrough Powder-to-Coat (P2C™)
technology exploits the Company’s high-performance, advanced
low-platinum group metal (PGM) emission reduction catalysts. Key
technology platforms include Mixed Phase Catalyst (MPC®), Base
Metal Activated Rhodium Support (BMARS™), Synergized PGM (SPGM™),
Zero PGM (ZPGM™) and Spinel™. For more information, please visit
www.cdti.com.
About Süd-Chemie India Pvt. Ltd.Sud-Chemie
India Pvt. Ltd.’s mission is to produce catalysts that provide
innovative solutions to customers, are environmentally sustainable
and result in resource conservation, provide solutions for new
developments and technological upgrades, and add value to customers
through improved efficiency and quality of end products. For more
information, visit http://www.sud-chemie-india.com/.
Forward-Looking StatementsCertain information
contained in this press release constitutes forward-looking
statements, including any statements that are not statements of
historical fact. You can identify these forward-looking statements
by the use of the words “believes”, “expects”, “anticipates”,
“plans”, “may”, “will”, “would”, “intends”, “estimates”, and other
similar expressions, whether in the negative or affirmative.
Forward-looking statements are based on a series of expectations,
assumptions, estimates and projections, which involve substantial
uncertainty and risk. In this document, the Company includes
forward-looking statements regarding the acceleration of the
Company’s business transformation into an advanced materials
company, the Company’s future financial performance, the timely
commercialization of the Company’s technology, the validation of
the quality of the Company’s technology and the availability of
future financing, are all subject to risks and uncertainties that
could cause our actual results and financial position to differ
materially. In general, actual results may differ materially
from those indicated by such forward-looking statements as a result
of risks and uncertainties, including, but not limited, to (i) that
the Company may not be able to (a) successfully implement, or
implement at all, its strategic priorities; (b) streamline its
operations or align its organization and infrastructure with the
anticipated business; (c) meet expectations or projections; (d)
decrease costs; (e) increase sales; (f) obtain adequate funding;
(g) retain or secure customers; (h) increase its customer base; (i)
protect its intellectual property; (j) successfully evolve into an
advanced materials supplier or, even if successful, increase
profitability; (k) successfully market new products; (l)
obtain product verifications or approvals; (m) attract or retain
key personnel; (n) validate, optimize and scale our powder-to-coat
capability; or (o) realize benefits from investments; (ii) funding
for and enforcement and tightening of emissions controls, standards
and regulations; (iii) prices of PGM and rare earth metals;
(iv) royalty and other restrictions on sales in certain Asian
countries; (v) supply disruptions or failures; (vi) regulatory,
marketing and competitive factors; (vii) environmental harm or
damages; and (viii) other risks and uncertainties discussed or
referenced in the Company’s filings with the Securities and
Exchange Commission, including its most recent Annual Report on
Form 10-K. In addition, any forward-looking statements represent
the Company’s estimates only as of the date of such statements and
should not be relied upon as representing the Company’s estimates
as of any subsequent date. The Company specifically disclaims any
obligation to update forward-looking statements. All
forward-looking statements in this press release are qualified in
their entirety by this cautionary statement.
Contact Information: Becky
Herrick or Cathy MattisonLHA (IR Agency)+1 415 433
3777bherrick@lhai.com / cmattison@lhai.com
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