CDTi's CEO Comments on Recent Auto Emissions Compliance Reports
September 24 2015 - 8:00AM
Clean Diesel Technologies, Inc. (Nasdaq:CDTI) ("CDTi" or "the
Company"), a leader in advanced emission control technology,
released the following statement in response to numerous questions
from industry analysts and investors regarding recent emissions
compliance issues within the automotive industry.
"Recent news surrounding non-compliance with automotive emission
laws emphasizes the priority government regulators and the public
place on improving air quality and safeguarding human health around
the world," stated Chris Harris, CDTi's President and Chief
Executive Officer. "The strong reaction to the negative aspects of
non-compliance makes it crystal clear that governments intend to
strictly enforce stringent emission regulations as they urgently
and aggressively tackle the enormous environmental, social and
economic costs stemming from harmful vehicular pollutants."
"Globally, there will soon be 100 million new passenger cars
produced annually as the world's population grows and rising living
standards spur demand for cars and commercial vehicles.
Simultaneously, governments are moving quickly to safeguard human
health and the environment. While more stringent emission
regulations take effect worldwide, and car designers leverage
turbo, direct gas injection and hybrid engine technologies for fuel
efficiency, conventional catalytic converter technology is
stretched. Clearly now is the time for the rapid and
broad-scale adoption of breakthrough innovations that enable
cost-effective compliance."
Harris concluded, "With its long track history supplying
emission solutions for passenger cars and heavy duty vehicles,
CDTi's next-generation technologies promise cost-effective
compliance with increasingly strict emission standards around the
world. We believe our proprietary technologies that include
MPC®, Spinel™, BMARS™ and SPGM™, offer vehicle manufacturers
superior emission reduction performance at substantially lower
cost. We intend to accelerate commercialization of our
breakthrough compliance-enabling technologies."
About Spinel
The Spinel platform is a family of proprietary materials using
various base metals that replace costly platinum group metals
(PGMs) and rare earth metals in coatings on standard catalytic
converters. Spinel works across a wide range of engine and vehicle
applications – both gasoline and diesel – and has the potential for
significant cost savings for OEMs by dramatically reducing or
eliminating expensive PGMs and rare earth metals. The technology
promises to enable early, cost-effective compliance with stricter
emissions standards in the U.S. and around the world and to
mitigate OEM exposure to supply uncertainty and price volatility in
the PGM and rare earth markets.
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 contained
herein 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", "promises", 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 press release, the Company includes
forward looking statements regarding CDTi's proposed presentation,
promise of Spinel technology patents, future tests and results, and
the development, commercialization and potential benefits of CDTi's
products and technologies including Spinel™. 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)
realize the benefits of investments; (2) successfully transition
into an advanced materials supplier; (3) execute its strategic
priorities; (4) commercialize its technology due to agreements with
third parties; (5) protect its intellectual property; (6) obtain
verifications, approvals or market acceptance of its products or
technology; or (7) 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 allegations; (vi) inability to meet emissions control
standards; (vii) any cancellation or postponement of the JSAE 2015
Annual Congress; 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 Mattison LHA (IR Agency) +1 415 433 3777
bherrick@lhai.com cmattison@lhai.com
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