CDTi Appoints International Automotive Industry Veteran Dr. Till Becker to Its Board of Directors
February 11 2015 - 8:30AM
Clean Diesel Technologies, Inc. (Nasdaq:CDTI) ("CDTi" or "the
Company"), a leader in advanced emission control technology,
appointed Dr. Till Becker to the Company's Board of Directors,
effective February 9, 2015, increasing the number of directors to
six. Dr. Becker will serve on the Technology Committee.
"Dr. Becker's extensive international automotive leadership
experience will be a valuable resource during CDTi's transition
from an emissions control manufacturer to an advanced materials
technology company," said Chairman Charles Engles, Ph.D. "CDTi
plans to broadly commercialize its new advanced low- and
zero-platinum group metal technologies, featuring its breakthrough
Spinel™ technology. Dr. Becker's in-depth understanding of
the global automotive supply chain and his contacts there will help
guide the Company to the next stage of its growth and evolution.
The Board joins me in welcoming him to CDTi."
"CDTi's Spinel™ technology platform represents an important
breakthrough in clean air solutions," Dr. Becker stated. "I look
forward to working with the Company's executive leadership team and
Board of Directors to realize the potential of the Company's
advanced materials technology strategy and drive CDTi toward future
success."
Dr. Becker has more than 25 years of international experience in
the automotive, consumer goods and energy industries and an
extensive background in corporate restructuring and M&A
transactions. He was at Daimler AG from 1987 to 2006, where he ran
major international subsidiaries and served as Executive Vice
President of the parent company. He served as Chairman and CEO of
Daimler Northeast Asia, Mercedes-Benz Türk A.S., Istanbul,
Mercedes-Benz India Pvt. Ltd. and Mercedes-Benz Portugal SA. In
2013, Dr. Becker served as CEO of Hess AG, a provider of
world-class lighting systems, where he implemented a successful
restructuring plan that led to the company's sale. From 2010 to
2011, he served as interim CEO of MPS Micropaint Holding AS, an
international distributor of premium spot repair systems for small
paint damage to automobiles and as an advisor to RealEyes GmbH, a
three-dimensional display imaging firm. From 2008 to 2010, Dr.
Becker served as an advisor to Capital Dynamics Ltd., an
independent, global asset management firm that invests in private
equity and clean energy infrastructure. Dr. Becker
currently serves as a Senior Advisor at Global Board Room Advisors,
an Asia-focused M&A consulting firm which he co-founded in
2011. He also serves as Senior Advisor to Holland Private Equity
Growth Capital, an investment firm focused on growth-stage
investments in small to mid-market technology companies in the
Benelux and Germany, and Senior Consultant to Artris Management
Ltd., a European consulting and M&A company. Dr. Becker holds a
law degree from the University of Münster.
About CDTi
CDTi manufactures and distributes vehicle emissions control
products that leverage its advanced materials technology. CDTi
utilizes its proprietary patented Mixed Phase Catalyst (MPC®)
technology and other related technologies to provide high-value
sustainable solutions to reduce emissions, increase energy
efficiency and lower the carbon intensity of on- and off-road
combustion engine systems. Reflecting its continued focus on
innovation, CDTi is developing and commercializing proprietary
advanced low-platinum group metal (PGM) catalysts including
synergized-PGM (SPGM™), as well as zero-PGM (ZPGM™) catalysts. CDTi
is headquartered in Oxnard, California and has operations in the
U.K., Canada, France, Japan and Sweden. For more information,
please visit www.cdti.com.
Forward-Looking Statements
Certain information contained in this press release constitutes
forward-looking statements for purposes of the safe harbor
provisions of The Private Securities Litigation Reform Act of 1995.
Any statements contained herein that are not statements of
historical fact should be considered forward-looking statements.
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
(a) its growth, future success, strategies and focus on innovation;
(b) the effect Dr. Becker may have on the Company; (c) its
transition to an advanced materials technology company; (d) its
plans to broadly commercialize its new technologies; (e) the
benefits of its technology; (f) the achievement of intended
results; and (g) its ability to develop and commercialize
proprietary advanced low- or zero-PGM catalysts. 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) any inability by CDTi to (1)
reduce costs; (2) increase sales; (3) realize the benefits of
investments; (4) obtain sufficient funding; (5) realign its
strategic path; (6) execute its strategic priorities; (7)
commercialize its technology due to agreements with third parties;
(8) protect its intellectual property; (9) obtain verifications,
approvals or market acceptance of its products or technology; (10)
attract or retain qualified personnel; or (11) achieve anticipated
results; (ii) changes in or lack of enforcement of or funding for
emissions programs, regulations or standards; (iii) competitive
conditions; (iv) prices of PGM and rare earth metals; (v)
intellectual property infringement claims by third parties; (vi)
supply or delivery interruptions, limitations or failures; (vii)
the loss of one or more major customers; (viii) product
malfunctions, design failures or the inability to meet
emissions control standards; and (ix) 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: Becky Herrick or Cathy Mattison
LHA (IR Agency)
+1 415 433 3777
bherrick@lhai.com
cmattison@lhai.com
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