Spinel™ eliminates more than 90% of PGMs on close-coupled catalysts, demonstrating high levels of durability Provides original equipment manufacturers a cost-effective means to attain increasingly stringent clean air standards
OXNARD, Calif., Jan. 25, 2016 (GLOBE NEWSWIRE) -- 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 Mattison LHA (IR Agency) +1 415 433 3777 bherrick@lhai.com cmattison@lhai.com
