CDTi’s Latest Spinel™ Vehicle Test Results Demonstrate Significant Platinum Group Metal and Cost Savings
January 25 2016 - 8:00AM
Spinel™ eliminates more than 90% of PGMs on
close-coupled catalysts, demonstrating high levels of
durabilityProvides original equipment manufacturers a
cost-effective means to attain increasingly stringent clean air
standards
Clean Diesel Technologies, Inc. (Nasdaq:CDTI) (“CDTi” or “the
Company”) completed the next phase in its Spinel™ SPGM three way
catalyst (TWC) vehicle testing involving close-coupled catalysts
and achieved a critical milestone for its Spinel powder materials
technology. The results follow successful testing for
underfloor catalysts completed in 2015.
The tests were performed on a model year 2015 Buick Regal with
results indicating Spinel eliminates more than 90% of PGMs on
close-coupled catalysts and delivers cost savings of more than $90
per part, based on current Platinum Group Metal (PGM) prices. CDTi
developed Spinel to achieve the much higher temperature durability
required for close-coupled catalysts placed near the engine than is
required for underfloor catalysts, which operate under cooler
conditions farther away from the engine.
“With successful vehicle testing on both close-coupled and
underfloor catalysts, we believe Spinel can be positioned as a
complete solution to alleviate the increase in PGM usage and
associated costs required to meet stricter emissions standards
worldwide,” stated Matthew Beale, CDTi’s CEO. “As such, Spinel
offers significant additional scope for CDTi to expand our powder
capability to new markets that will drive growth and profitability.
Consistent with this strategy, we are already developing
coating partnerships in key markets that offer near-term
commercialization opportunities in North America, China and India.
Together with recent commercial success in the Chinese heavy duty
market, these vehicle test results indicate important initial
momentum and traction for CDTi’s advanced materials strategy.”
About CDTi
CDTi develops advanced materials technology for the emissions
control market. CDTi’s proprietary materials 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 the
Company’s 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™. For
more information, please visit www.cdti.com.
Forward-Looking Statements
Certain information contained in this press release constitutes
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, 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”, “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 the potential benefits of CDTI’s Spinel technology based
on recent test results, and the anticipated development, potential
applications, commercialization opportunities and potential
benefits of CDTi's catalyst 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) Spinel technology
may not achieve the same results in commercial environments as they
do in test settings; (ii) that the Company may not be able to (a)
decrease costs, (b) increase sales, (c) obtain adequate funding,
(d) retain existing or secure new customers (e) protect its
intellectual property, (f) successfully evolve into an advanced
materials supplier or, even if successful, achieve profitability,
(g) successfully market new products; (h) obtain required 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) supply disruptions or failures; (v) regulatory,
marketing and competitive factors; (vi) environmental harm or
damages, (vii) changes in domestic and international market and
political conditions; 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 MattisonLHA (IR Agency)+1
415 433 3777bherrick@lhai.comcmattison@lhai.com
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