CDTi Announces New Advanced Materials Technology
May 05 2015 - 9:00AM
Initial Benchmarking Shows High Performance With Dramatically Lower
PGMs
OXNARD, Calif., May 5, 2015 (GLOBE NEWSWIRE) --
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(TM)) diesel oxidation
catalyst (DOC) technology. In these initial tests, CDTi's SPGM(TM)
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(TM) 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(TM)) patents underpins our advanced materials
platform. We also expect to report initial vehicle test results on
additional new generation catalysts, including Spinel(TM), 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(TM)), as well as zero-PGM (ZPGM(TM))
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
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Clean Diesel Technologies, Inc. via
Globenewswire
HUG#1918730
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