Clean Diesel Technologies, Inc. (Nasdaq:CDTI) (“CDTi” or “the
Company”), a leader in advanced emission control technology, has
partnered with DENSO Products and Services Americas Inc., an
affiliate of leading global automotive supplier DENSO Corp., to
supply CDTi’s enabling technologies to the North American
heavy-duty market. Under the scope of the partnership the two
companies will launch PowerEdge diesel after-treatment, which will
be distributed by DENSO and manufactured by CDTi featuring CDTi’s
Diesel Particulate Filter (DPF) and Diesel Oxidation Catalyst (DOC)
technologies.
“This partnership reflects our continued success in positioning
CDTi as a provider of emissions solutions to the global automotive
market,” stated Matthew Beale, CDTi’s CEO. “DENSO’s choice of CDTi
provides further evidence of our growing technology leadership in
the world’s largest heavy-duty markets. We are excited to add DENSO
to our growing customer base of global manufacturing and
distribution partners.”
“DENSO strives to provide our customers with innovative products
that contribute to the productivity of their businesses,” stated
Frank Jenkins, senior manager of DENSO’s Heavy Duty Marketing
Group, DENSO Products and Services Americas, Inc. “CDTi shares our
commitment to product reliability and durability, rigorous safety
and performance standards, innovation, customer service and
environmental stewardship.”
“Partnering with DENSO supports our continued commercial
momentum in the large, fast-growing opportunity for OE-quality
after-treatment solutions in North America,” stated Jason P. Soika,
CDTi’s Vice President, Sales & Marketing. “This agreement
significantly expands our reach into the multi-million-dollar
market for replacement DPFs and DOCs. In addition, being selected
as a supplier for DENSO further validates the quality of our OEM
replacement products.”
Collaborating with CDTI enables DENSO to offer customers an
extended range of application coverage by consolidating more than
260 original equipment (OE) part numbers to less than 80. The
all-makes strategy provides inventory efficiency by managing fewer
SKUs while providing customers with optimal application coverage.
Additionally, CDTi is continually introducing OE replacements for
emerging applications and monitoring product lifecycle to ensure
the portfolio aligns with newly introduced and outgoing
technologies.
Diesel Particulate Filter (DPF)A diesel
particulate filter, or DPF, is a system that filters exhaust gas
flow to capture solid particulate matter (PM) — created as a
byproduct of the internal combustion process. DPFs have been used
as pollution control devices for both on- and off-road vehicles and
equipment since the 1980s. Designed and manufactured in North
America, CDTi’s DPFs are exact-fit OEM replacements that meet or
exceed OEM emissions requirements and are backed by an
industry-leading 2-year, unlimited mileage warranty.
Diesel Oxidation Catalyst (DOC)A diesel
oxidation catalyst, or DOC, is a device that utilizes complex
chemical processes to transform hazardous pollutants from diesel
engines, turning them into less harmful exhaust, similar to an
automobile's catalytic converter. DOCs are normally honeycombs
coated with an active catalyst formulation, engineered in
combination with a DPF, to dramatically reduce particulate matter
(PM) by 90% along with reducing other dangerous gaseous emissions
by 50% to 70%.
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 DENSO CorporationDENSO Corp.,
headquartered in Kariya, Aichi prefecture, Japan, is a leading
global automotive supplier of advanced technology, systems and
components in the areas of thermal, powertrain control,
electronics, information and safety. Its customers include all the
world's major carmakers. Worldwide, the company has more than 200
subsidiaries and affiliates in 38 countries and regions (including
Japan) and employs more than 150,000 people. Consolidated global
sales for the fiscal year ending March 31, 2016, totaled US$40.2
billion. Last fiscal year, DENSO spent 8.8 percent of its global
consolidated sales on research and development. DENSO common stock
is traded on the Tokyo and Nagoya stock exchanges. For more
information, go to www.globaldenso.com or visit our media
website
at http://www.globaldenso.com/en/newsreleases/media-center/.
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 conversion of outstanding indebtedness into common
stock, global trends in the automotive and heavy duty diesel
markets, the Company’s future financial performance, and the
performance of the Company’s technology, 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 and any
subsequent periodic reports on Form 10-Q and Form 8-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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