Woodward and Tenneco Sign Licensing Agreement for New Diesel Emissions Control Technology
April 20 2009 - 8:30AM
Marketwired
Woodward Governor Company (NASDAQ: WGOV) and Tenneco Inc. (NYSE:
TEN) have announced a licensing agreement for an aftertreatment
technology designed to help diesel engine and equipment
manufacturers meet current and future stringent emissions standards
more effectively.
Under the terms of the agreement, Woodward will license its
technology and collaborate with Tenneco on its T.R.U.E.-Clean(TM)
(Thermal Regeneration Unit for Exhaust) aftertreatment technology.
T.R.U.E.-Clean is a thermal regeneration system targeted for
on-road diesel truck and bus applications, as well as non-road
diesel applications such as construction, material handling and
other industrial equipment. The T.R.U.E.-Clean system, which
incorporates Woodward's proprietary SmartFire(TM) combustion
sensing technology, can provide improved aftertreatment performance
for most diesel trucks, buses, and non-road vehicles that operate
frequently in low-load, low-speed or low-temperature
conditions.
The T.R.U.E.-Clean system is unique because of its automatic
active regenerating capabilities. It consists of thermal
regeneration technologies that constantly monitor the diesel
particulate filter's temperature and soot levels. When the system
senses that the filter should be cleaned, the unit automatically
initiates the regeneration process -- while maintaining proper
temperatures and controls -- until the system completes its
cycle.
The global market for active diesel particulate filter
regeneration systems is expected to grow significantly by 2011 as
new emissions regulations become effective in Japan, North America,
and Europe. Tenneco has secured development contracts with several
off-road customers to date. Tenneco will use its industry-leading
engineering and manufacturing capabilities in emissions control
systems to ensure solutions for diesel engine manufacturers that
must meet Japan's Tier 3/Tier 4, the United States' EPA 2010 and
non-road Tier 4 and Europe's Euro 5/Euro 6 requirements.
"We're extremely excited about the T.R.U.E.-Clean system and the
solutions it will create in the global diesel marketplace," said
Tim Jackson, Chief Technology Officer, Tenneco. "Equipment
manufacturers will experience superior engine performance without
compromise in all types of challenging conditions -- from cold
climates to high-sulfur fuel -- all at a significantly smaller fuel
penalty than existing systems currently require."
"The clean-energy technologies that Woodward is licensing to
Tenneco support the industry-leading performance of the Tenneco
T.R.U.E.-Clean system," said Chad Preiss, Group Vice President,
Woodward. "The Woodward technology has been proven across a wide
range of markets and applications, from small reciprocating engines
to jet aircraft."
About Woodward
Woodward is an independent designer, manufacturer, and service
provider of energy control and optimization solutions for
commercial and military aircraft, turbines, reciprocating engines,
and electrical power system equipment. The company's innovative
fluid energy, combustion control, electrical energy, and motion
control systems help customers offer cleaner, more reliable and
cost effective equipment. Woodward is headquartered in Fort
Collins, Colorado, USA and serves global markets in aerospace,
power and process industries, and transportation. Visit the
company's web site at www.woodward.com.
About Tenneco
Tenneco is a $5.9 billion manufacturing company with
headquarters in Lake Forest, Illinois and approximately 21,000
employees worldwide. Tenneco is one of the world's largest
designers, manufacturers and marketers of emission control and ride
control products and systems for the automotive original equipment
market and the aftermarket. Tenneco markets its products
principally under the Monroe�, Walker�, Gillet(TM) and
Clevite�Elastomer brand names. Tenneco's global emissions
operations include 48 emission control manufacturing facilities and
four global engineering centers devoted to emission control
engineering and advanced technology. The company's engineering
capabilities and broad range of emission control products and
systems help vehicle manufacturers address increasingly stringent
emissions and noise regulations, the drive for better fuel
efficiency and the emission control demands of diesel and other
alternative fuel and hybrid vehicles.
Many of the statements in this press release concerning the
diesel aftertreatment systems under development and the market
thereof reflect the companies' current expectations and are
forward-looking statements that involve risks and uncertainties.
These forward-looking statements can be identified by their use of
terms such as "will," "plan" and "expect," including Woodward's
expectation that the T.R.U.E.-Clean system will provide improved
aftertreatment performance; the expected growth of the global
market for active diesel particulate filter regenerations; the
anticipated new emissions regulations in Japan, North America and
Europe; Tenneco's ability to use its industry-leading engineering
and manufacturing capabilities to ensure solutions for diesel
engine manufacturers that are required to meet emissions
requirements in Japan, the United States and Europe; and Tenneco's
expectations that the T.R.U.E.-Clean system will create solutions
in the global diesel marketplace and that equipment manufacturers
will experience superior engine performance without compromise in
all types of challenging conditions at a reduced fuel penalty.
Actual results could differ materially from the results described
in these forward-looking statements and neither Woodward nor
Tenneco has any obligation to update these forward-looking
statements. Neither Woodward nor Tenneco can guarantee if or when
commercial sale of the diesel aftertreatment systems will occur.
Other factors that could affect performance and could cause actual
results to differ materially from the results described in these
forward-looking statements are described in Woodward's Annual
Report on Form 10-K for the year ended September 30, 2008 and in
Tenneco's Annual Report on Form 10-K for the year ended December
31, 2008.
CONTACTS: Rose Briani-Burden Business Communications Woodward
815-639-6282 Email Contact 1000 E. Drake Road Fort Collins, CO
80525, USA Tel: 970-482-5811 Fax: 970-498-3058 Michelle Caldwell
Media Relations Specialist Tenneco Inc. 313-418-4692 Email Contact
500 North Field Drive Lake Forest, IL 60045 Tel: 847-482-5000 Fax:
847-482-5049
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