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OXNARD, Calif., July 12, 2016 (GLOBE NEWSWIRE) -- Clean Diesel Technologies, Inc. (Nasdaq:CDTI) (“CDTi” or “the Company”), a leader in advanced emission control technology, announced it is providing catalysts featuring CDTi's high-performance Mixed Phase Catalyst (MPC®) technology to Honda for its newly designed 2017 Accord Hybrid model. The model has been in production since the beginning of 2016 and is now being delivered to dealerships throughout North America.
Hybrids and Plug-In Hybrids are a key part of car makers’ plan to increase fuel economy and lower CO2 emissions over the next decade. According to a new study from Juniper Research, nearly 17 million will be on the road by 2020, up from an estimated 12 million in 2015. The catalysts in hybrid and electric vehicles normally require high levels of precious metals to achieve higher performance due to the low temperature drive cycles encountered. CDTI’s MPC technology enables car manufacturers to meet the required high performance at lower platinum group metal (PGM) levels. To increase commercial traction in this key segment, CDTI is continuing to broaden its technology portfolio to support ongoing innovation.
“We are pleased to have been selected by Honda to supply a high-value solution for the Accord Hybrid – one of the world’s most advanced vehicles. Furthermore, this project demonstrates the continued strength of our relationship with Honda,” stated Matthew Beale, CEO of CDTi. “Our MPC technology reduces both NOx emissions and PGM usage, offering high performance and significant cost savings. Honda remains a valued adopter of our technology and we look forward to providing our technology for this specialized, high-value, low-volume model.”
CDTi began delivering catalysts to Honda in 2001 including the popular model years 2004, 2008 and 2013 Accord, its North American Hybrid and Plug-In Hybrid models as well as the Acura TLX, TSX and RLX.
About the 2017 Honda Accord Hybrid
Available in all 50 states, this new mid-size, four-door 2017 Honda Accord Hybrid features driveline enhancements aimed at improving mileage and performance.
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.
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 and the Company’s future financial performance 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 and Quarterly Report on Form 10-Q. 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.
Source:Clean Diesel Technologies, Inc.