VENTURA, Calif., July 9, 2013 (GLOBE NEWSWIRE) -- Clean Diesel Technologies, Inc. (Nasdaq:CDTI) ("CDTi" or the "Company"), a leader in advanced emissions control solutions, is pleased to announce that Honda Motor Co. ("Honda") is now selling its 2013 Accord Hybrid and Accord Plug-In Hybrid, featuring CDTi's high-performance Mixed Phase Catalyst (MPC®) technology. The Hybrid is expected to begin production in the U.S. this summer with sales commencing in the U.S. in the fall while the Plug-In Hybrid model has recently become available for sale in the U.S.
Along with the Hybrid and Plug-In Hybrid models, CDTi also provides its catalyst solutions to Honda for North American versions of their four- and six-cylinder Accord as well as the Acura TSX.
The MPC design is focused on excellent thermal stability, giving its catalyst products three critical attributes that differentiate them from competing offerings:
- Allows significantly improved performance with a given level of precious metals – to meet increasingly stringent emissions standards and powertrain diversification
- Achieves a given emission standard with greatly reduced precious metal use
- Enables the development of ZPGM catalysts with unique activity and performance
"Hybrid and plug-in vehicles can improve fuel economy, lower fuel costs, and provide significant emissions benefits over conventional vehicles by producing no tailpipe emissions when in all-electric mode. Honda has been a leader in the advancement of hybrid vehicles and we are proud to be the supplier to such a premium brand. With advancing degrees of hybridization a much higher performance level from the catalyst is required due to the intermittent use of the combustion engine. The use of the CDTi catalyst by Honda for these types of vehicles is a strong endorsement of our capabilities. As global emission regulations continue to tighten, we are well positioned with our advanced MPC technology platform to deliver automakers increasingly cost-effective, high-performance catalyst emission solutions," said Craig Breese, President and Chief Executive Officer of CDTi.
CDTi's Catalyst Division began delivering catalysts to Honda in 2001 — offering a unique combination of high performance and low platinum group metal content, resulting in significant economic benefits. Since then, CDTi's catalysts have been sourced for new model programs that typically span four to five years, including the popular model years 2004 and 2008 Accord.
CDTi is a vertically integrated global manufacturer and distributor of emissions control systems and products, focused on the heavy duty diesel and light duty vehicle markets. CDTi utilizes its proprietary patented Mixed Phase Catalyst (MPC®) technology, as well as its ARIS® selective catalytic reduction, Platinum Plus® fuel-borne catalyst, and other technologies to provide high-value sustainable solutions to reduce emissions, increase energy efficiency and lower the carbon intensity of on- and off-road engine applications. CDTi is headquartered in Ventura, California and currently has operations in the U.S., Canada, France, Japan and Sweden. For more information, please visit www.cdti.com.
Forward-Looking Statements Safe Harbor
Certain statements in this news release, such as statements regarding expected production and sales schedules, use of the Company's products by Honda, anticipated benefits and competitive features of the Company's products, future sales volumes and momentum, the Company's relationship with Honda, tightening of emissions standards and regulations, and any impact the foregoing may have on the Company's business, operations, growth, profitability and shareholder value, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known or unknown risks, including those detailed in Clean Diesel's filings with the U.S. Securities and Exchange Commission, uncertainties and other factors that may cause the actual results, performance or achievements of Clean Diesel to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Clean Diesel assumes no obligation to update the forward-looking information contained in this release.
CONTACT: Kevin M. McGrath Cameron Associates, Inc. Tel: +1 (212) 245-4577
Source:Clean Diesel Technologies, Inc.