CDTi Teams With Panasonic Ecology Systems to Supply New SPGM DOC Technology for China's Heavy Duty Retrofit Market
November 17 2015 - 8:00AM
First commercial agreement using
proprietary SPGM™ DOC technology in powder form
Clean Diesel Technologies, Inc. (Nasdaq:CDTI) ("CDTi" or "the
Company"), a leader in advanced emission control technology, has
agreed with Panasonic Ecology Systems Co., Ltd. to supply its new
synergized-platinum group metal (SPGM™) diesel oxidation catalyst
(DOC) for the China heavy duty on-road and off-road retrofit
markets. Panasonic Ecology Systems Co., Ltd. manufactures and sells
environmental systems for the Panasonic Group.
Panasonic Ecology Systems will combine its
proprietary diesel particulate filter technology with CDTi's SPGM
DOC technology for the heavy duty diesel retrofit market in China.
In the first phase, CDTi will supply substrates coated with CDTi's
SPGM DOC technology, with a planned transition to CDTi providing
its proprietary SPGM DOC powder to Panasonic to coat onto
substrates in its China factory. The first SPGM DOC shipments are
targeted for the fourth quarter of 2015.
"Our agreement with Panasonic Ecology Systems is an important
milestone in our plan to make CDTi's latest advanced materials
technology broadly available in a proprietary powder," Matthew
Beale, CDTi's Chief Executive Officer, stated. "With approximately
six to seven million heavy duty diesel vehicles requiring retrofit,
China represents a substantial new market for us. Panasonic's
selection of our SPGM DOC technology is a key validation of our
powder-to-coat (P2C™) business model. We look forward to working
with this major global organization to commercialize our
groundbreaking SPGM DOC technology."
"Panasonic aims to reduce harmful diesel exhaust emissions in
the most cost effective and energy efficient way," Katsushige
Hayashi, Managing Director of Panasonic Ecology Systems stated.
"Combining these two advanced technologies creates significant
value for the retrofit market. Our DOC-DPF system uses 80% less
platinum at reduced fuel penalty by treating exhaust fumes at a
temperature 20% lower than standard catalysts."
The Diesel Oxidation Catalyst (DOC) is a major component of
diesel emission control systems. Competitor designs typically use
high levels of PGMs, whereas CDTi's SPGM DOC reduces PGM usage by
over 80%. More information on CDTi's SPGM DOC technology can be
found at http://www.cdti.com/spgmdoc.
About CDTi
CDTi manufactures and distributes vehicle emissions control
products that leverage its advanced materials technology. 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 its 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™. Headquartered in Oxnard, California, CDTi has
operations in Canada, Japan, the United Kingdom 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 its
contemplated relationship with Panasonic Ecology Systems, including
the Company's potential entry into the China market and anticipated
shipment dates. 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) meet expectations or
projections, including anticipated shipment timing and transition
into supply of the Company's proprietary SPGM DOC powder to
Panasonic; (b) decrease costs; (c) increase sales; (d) obtain
adequate funding; (e) retain or secure customers; (f) increase its
customer base; (g) protect its intellectual property; (h)
successfully evolve into an advanced materials supplier or, even if
successful, increase profitability; (i) successfully market new
products; (j) obtain product verifications or approvals; (k)
attract or retain key personnel; or (l) 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. 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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