CDTi Announces New Advanced Materials Technology
May 05 2015 - 9:00AM
Clean Diesel Technologies, Inc. (Nasdaq:CDTI) ("CDTi" or "the
Company"), a leader in advanced emission control technology,
released preliminary engine and vehicle test results for its new
synergized-platinum group metal (SPGM™) diesel oxidation catalyst
(DOC) technology. In these initial tests, CDTi's SPGM™ DOC achieved
emission control and system performance comparable to a leading
original equipment manufacturer (OEM) catalyst product while
slashing PGM usage by over 80%. The SPGM DOC technology represents
another breakthrough in CDTi's advanced materials research program
aimed at significantly reducing or eliminating the need for costly
PGMs in emission control catalysts.
Chris Harris, CDTi's President and CEO, stated: "Beyond the
light duty vehicle market, heavy duty DOCs are a major opportunity
for our advanced materials technology. These initial engine and
vehicle tests for our SPGM DOC technology are the first in a series
of key development milestones. They further demonstrate our ability
to invent innovative materials to create significant value
propositions in a range of downstream markets. We intend to
commercialize our SPGM DOC technology through OEMs and retrofit
catalyst suppliers via our powder-to-coat business model as well as
incorporate it into our DuraFit™ line of diesel replacement
parts."
The DOC is a major component of diesel emission control systems
worldwide. Current designs are heavily reliant on high levels of
platinum and palladium for conversion of carbon monoxide (CO) and
hydrocarbons (HC), and for the oxidation of nitric oxide (NO) to
nitrogen dioxide (NO2) to feed the downstream particulate filter
and selective catalytic reduction systems. OEMs spent almost $1.0
billion on PGMs for heavy duty diesel vehicle catalysts in 2012
according to information derived from Johnson Matthey PLC's
"Platinum 2013" report. CDTi estimates that the vast majority of
this spend was for DOCs.
CDTi's SPGM DOC technology is expected to be the first of many
planned applications of its new powder capability. The Company has
filed patents covering its SPGM DOC design that establishes a
synergy between its proprietary catalytic powder and extremely low
levels of PGM.
"We believe our newest proprietary materials will enable OEMs,
industry coaters and other catalyst manufacturers to dramatically
reduce PGM usage while meeting more stringent emission
requirements. Our large and growing portfolio of low-PGM, SPGM, and
zero-PGM (ZPGM™) patents underpins our advanced materials platform.
We also expect to report initial vehicle test results on additional
new generation catalysts, including Spinel™, in the near future,"
concluded Harris.
The SPGM DOC was road-tested on an urban transit bus powered by
a 2007 Cummins ISL 8.9 liter engine. It had equivalent performance
to an EPA certified OEM DOC using only 1.5 grams (4.75 g/ft3) of
PGM compared to the OEM catalyst's 11.0 grams (35 g/ft3). Further
benchmark testing was done at an outside facility that demonstrated
the SPGM DOC had equivalent performance to the DOC in a Euro VI
certified system using 38 g/ft3 (see link to chart below). In
addition, an emission control system supplier evaluated CDTi's SPGM
DOC and demonstrated equivalent filter regeneration performance at
just 7% of the PGM loading of its current DOC.
Benchmark Testing of Euro VI Certified
System
http://media.globenewswire.com/cache/9503/file/33860.pdf
Supplementary technical information on CDTi's SPGM DOC
technology will be available on the company's website at
www.cdti.com/spgmdoc.
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, 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 goals,
opportunities, value propositions, CDTi's intentions to
commercialize technology, planned applications, anticipated
benefits of CDTi's key enabling powder materials and other products
and technologies, and expected results and developments. 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) the failure of
SPGM DOC technology to achieve anticipated results; (ii) that the
Company may not be able to (a) decrease costs, (b) increase sales,
(c) obtain adequate funding, (d) retain or secure customers and
dependence on a few major customers, (e) protect its intellectual
property, (f) successfully evolve into an advanced materials
supplier or, even if successful, increase profitability, (g)
successfully market new products; (h) obtain product verification
or approvals, (i) attract or retain key personnel, or (j) realize
benefits from investments; (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: Becky Herrick or Cathy Mattison
LHA (IR Agency)
+1 415 433 3777
bherrick@lhai.com
cmattison@lhai.com
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