- Establishes strategic partnership with Süd-Chemie India to commercialize BMARS™, MPC ® and SPGM™ technologies - - Supply Agreement concluded - - CDTI expands to new geographic region in Asia - - Advancing powder-to-coat delivery model in catalyst coating operations -
OXNARD, Calif., Sept. 27, 2016 (GLOBE NEWSWIRE) -- Clean Diesel Technologies, Inc. (Nasdaq: CDTI ) (“CDTi” or “the Company”), a leader in advanced emission catalyst technology, and Süd-Chemie India Pvt. Ltd. (SCIL) have signed a strategic cooperation agreement for CDTi’s Advanced Material Technology to be sold by SCIL in its market. Founded in 1969, SCIL is a leading supplier of Diesel Oxidation Catalysts (DOCs) and Three-Way Catalysts (TWCs) for major OEMs in India and abroad, supplying over a million catalytic converters annually. SCIL is a joint venture company with Clariant International of Switzerland, one of the world’s leading specialty chemical companies.
SCIL’s initial focus will be on certain Original Equipment (OE) platforms using CDTi’s Mixed Phase Catalyst ( MPC ® ), Base Metal Activated Rhodium Support ( BMARS™) and Synergized PGM ( SPGM™) DOC in catalysts for gasoline-engine passenger cars, light- and heavy-duty diesel vehicles and 2- and 3-wheel applications and off road engine systems. Spinel™ technology will be exploited in key TWC applications for longer term targets. The agreement grants exclusivity subject to performance. The launch of the Powder-to-Coat (P2C™) phase of the relationship is expected by the end of this year. A Supply Agreement has also been concluded to cover the commercial terms of supply of CDTi powder technologies.
“CDTi continues to focus on accelerating the execution of our advanced materials strategy in fast-growing markets, and our strategic partnership agreement and Supply Agreement with SCIL achieves a new milestone in India,” stated Matthew Beale, CDTi’s CEO. “To leverage our breakthrough advanced materials technology, we have selected the most well-positioned partners in our chosen markets. As a pioneer in the field of catalysis, SCIL has advanced production facilities and is equipped to cater to the needs of both Indian and international catalyst markets. SCIL has carried out initial validation of our technology and we are now firmly in the commercialization stage. With established coating capabilities and an extensive list of flagship customers, SCIL is the right partner with which to expand our market in this new geographic region.”
“SCIL is dedicated to contributing to the reduction of emissions from engine exhaust,” stated Mr. Touquire A Siddiquie, Assistant Vice President – Environmental Catalysts, SCIL. “We chose CDTi’s advanced materials technology based on our belief that it will significantly reduce the use of platinum group metals (PGMs) and enable improved functionality for more stringent emission standards of the future. By capitalizing on the associated cost reductions and using state of the art powder technology, SCIL believes we can create competitive advantages for our current as well as new business. Using CDTi’s P2C delivery model, SCIL can easily scale production to meet demand.”
About CDTi CDTi develops advanced materials technology for the emissions control market. 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 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 .
About Süd-Chemie India Pvt. Ltd. Sud-Chemie India Pvt. Ltd.’s mission is to produce catalysts that provide innovative solutions to customers, are environmentally sustainable and result in resource conservation, provide solutions for new developments and technological upgrades, and add value to customers through improved efficiency and quality of end products. For more information, visit http://www.sud-chemie-india.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 the acceleration of the Company’s business transformation into an advanced materials company, the Company’s future financial performance, the timely commercialization of the Company’s technology, the validation of the quality of the Company’s technology and the availability of future financing, are all subject to risks and uncertainties that could cause our actual results and financial position to differ materially. 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) successfully implement, or implement at all, its strategic priorities; (b) streamline its operations or align its organization and infrastructure with the anticipated business; (c) meet expectations or projections; (d) decrease costs; (e) increase sales; (f) obtain adequate funding; (g) retain or secure customers; (h) increase its customer base; (i) protect its intellectual property; (j) successfully evolve into an advanced materials supplier or, even if successful, increase profitability; (k) successfully market new products; (l) obtain product verifications or approvals; (m) attract or retain key personnel; (n) validate, optimize and scale our powder-to-coat capability; or (o) 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
