VENTURA, Calif., July 23, 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 the United States Patent and Trademark Office has approved an important patent to its innovative Zero-Platinum Group Metal ("ZPGM") Catalyst Technology. This newly allowed patent strengthens CDTi's ZPGM intellectual property ("IP") position for emissions control catalysts, free of platinum group metals ("PGM").
With an estimated $6 billion spent annually by original equipment manufacturers ("OEMs") on PGM purchases for catalysts, CDTi's program to develop ZPGM catalyst systems for internal combustion emission control targets opportunities for OEMs to address their rising PGM costs. The Company is currently exploring the various commercial opportunities within the many on- and off-road emission control markets for this proprietary technology.
"We are pleased with the USPTO's allowance and believe a strong and growing patent portfolio of advanced low-PGM and ZPGM technologies is an important component of the value proposition as we seek additional OEM's and other commercial partners to accelerate the commercialization of our patented and proprietary materials technology. We are in the process of establishing an extensive intellectual property portfolio, particularly in ZPGM technology, to support a critical component of our recently announced technology strategy. With twenty-seven more U.S. filings in process, we have significantly accelerated our pace in 2013. The approval validates the uniqueness of our ZPGM technology and patent portfolio. With further progress, we expect to be in a position to offer a compelling opportunity for OEMs to potentially eliminate their cost for PGM," said Craig Breese, President and Chief Executive Officer of CDTi.
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 information contained in this press release constitutes forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. Any statements contained herein that are not statements of historical fact should be considered forward-looking statements. You can identify these forward-looking statements by the use of words such as "believe(s)", "expect(s)", "anticipate(s)", "plan(s)", "may", "will", "would", "intend(s)", "estimate(s)" or similar expressions, as well as other words or expressions referencing future events, conditions or circumstances, whether in the negative or affirmative. Examples of forward-looking statements contained in this press release include, among others, statements regarding estimated PGM-related expenditures by OEMs, anticipated benefits of the Company's technology, and the Company's plans and beliefs with respect to the implementation of its technology strategy. Forward-looking statements are based on a series of expectations, assumptions, estimates and projections which involve substantial uncertainty and risk. 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 the risks and uncertainties discussed or referenced in the Company's filings with the Securities and Exchange Commission. In addition, any forward-looking statements represent the Company's estimates only as of the date 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: Kevin M. McGrath Cameron Associates, Inc. Tel: +1 (212) 245-4577
Source:Clean Diesel Technologies, Inc.