OXNARD, Calif., May 4 (Korea Bizwire) — Clean Diesel Technologies, Inc. (Nasdaq:CDTI) (“CDTi” or “the Company”), a leader in advanced emission control technology, released preliminary engine and vehicle test results for its new synergized-platinum group metal (SPGM(TM)) diesel oxidation catalyst (DOC) technology. In these initial tests, CDTi’s SPGM(TM) DOC achieved emission control and system performance comparable to a leading original equipment manufacturer (OEM) catalyst product while slashing PGM usage by over 80%. The SPGM DOC technology represents another breakthrough in CDTi’s advanced materials research program aimed at significantly reducing or eliminating the need for costly PGMs in emission control catalysts.
Chris Harris, CDTi’s President and CEO, stated: “Beyond the light duty vehicle market, heavy duty DOCs are a major opportunity for our advanced materials technology. These initial engine and vehicle tests for our SPGM DOC technology are the first in a series of key development milestones. They further demonstrate our ability to invent innovative materials to create significant value propositions in a range of downstream markets. We intend to commercialize our SPGM DOC technology through OEMs and retrofit catalyst suppliers via our powder-to-coat business model as well as incorporate it into our DuraFit(TM) line of diesel replacement parts.”
The DOC is a major component of diesel emission control systems worldwide. Current designs are heavily reliant on high levels of platinum and palladium for conversion of carbon monoxide (CO) and hydrocarbons (HC), and for the oxidation of nitric oxide (NO) to nitrogen dioxide (NO2) to feed the downstream particulate filter and selective catalytic reduction systems. OEMs spent almost $1.0 billion on PGMs for heavy duty diesel vehicle catalysts in 2012 according to information derived from Johnson Matthey PLC’s “Platinum 2013″ report. CDTi estimates that the vast majority of this spend was for DOCs.
CDTi’s SPGM DOC technology is expected to be the first of many planned applications of its new powder capability. The Company has filed patents covering its SPGM DOC design that establishes a synergy between its proprietary catalytic powder and extremely low levels of PGM.
“We believe our newest proprietary materials will enable OEMs, industry coaters and other catalyst manufacturers to dramatically reduce PGM usage while meeting more stringent emission requirements. Our large and growing portfolio of low-PGM, SPGM, and zero-PGM (ZPGM(TM)) patents underpins our advanced materials platform. We also expect to report initial vehicle test results on additional new generation catalysts, including Spinel(TM), in the near future,” concluded Harris.
The SPGM DOC was road-tested on an urban transit bus powered by a 2007 Cummins ISL 8.9 liter engine. It had equivalent performance to an EPA certified OEM DOC using only 1.5 grams (4.75 g/ft3) of PGM compared to the OEM catalyst’s 11.0 grams (35 g/ft3). Further benchmark testing was done at an outside facility that demonstrated the SPGM DOC had equivalent performance to the DOC in a Euro VI certified system using 38 g/ft3 (see link to chart below). In addition, an emission control system supplier evaluated CDTi’s SPGM DOC and demonstrated equivalent filter regeneration performance at just 7% of the PGM loading of its current DOC.
Benchmark Testing of Euro VI Certified System
Supplementary technical information on CDTi’s SPGM DOC technology will be available on the company’s website at www.cdti.com/spgmdoc.
CDTi manufactures and distributes vehicle emissions control products that leverage its advanced materials technology. CDTi utilizes its proprietary patented Mixed Phase Catalyst (MPC(R)) technology and other related technologies to provide high-value sustainable solutions to reduce emissions, increase energy efficiency and lower the carbon intensity of on- and off-road combustion engine systems. Reflecting its continued focus on innovation, CDTi is developing and commercializing proprietary advanced low-platinum group metal (PGM) catalysts including synergized-PGM (SPGM(TM)), as well as zero-PGM (ZPGM(TM)) catalysts. CDTi is headquartered in Oxnard, California and has operations in the U.K., Canada, France, Japan and Sweden. For more information, please visit www.cdti.com.
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 goals, opportunities, value propositions, CDTi’s intentions to commercialize technology, planned applications, anticipated benefits of CDTi’s key enabling powder materials and other products and technologies, and expected results and developments. 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) the failure of SPGM DOC technology to achieve anticipated results; (ii) that the Company may not be able to (a) decrease costs, (b) increase sales, (c) obtain adequate funding, (d) retain or secure customers and dependence on a few major customers, (e) protect its intellectual property, (f) successfully evolve into an advanced materials supplier or, even if successful, increase profitability, (g) successfully market new products; (h) obtain 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) 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: Becky Herrick or Cathy Mattison
LHA (IR Agency)
+1 415 433 3777
Source: CDTi via GLOBE NEWSWIRE