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DGAP-News: Clean Diesel Technologies, Inc. Accredited for London's Low Emission Zone
ID: 368525
(firmenpresse) - Clean Diesel Technologies, Inc.
16.03.2011 21:01
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VENTURA, Calif., 2011-03-16 21:01 CET (GLOBE NEWSWIRE) --Clean Diesel Technologies, Inc. (Nasdaq:CDTI) ('Clean Diesel'), a cleantech
emissions reduction company, announced today that following ISO9001
certification at its newly formed UK subsidiary, it has been named by Transport
for London (TfL) as an accredited supplier of approved diesel emission
reduction systems that could ensure vehicles are compliant with the London Low
Emission Zone (LEZ).
The London LEZ, which covers most of Greater London, was introduced in 2008 to
encourage the most polluting diesel vehicles to become cleaner in order to
improve the health and quality of life for people visiting, working or living
in London.
The London LEZ will be subject to two significant changes in January 2012. The
first change will affect Heavy Goods Vehicles (HGV), buses and coaches that,
from January 3, 2012, will be required to meet more stringent Euro IV emissions
standards for particulate matter (PM) to drive within Greater London free of
charge. In addition, larger vans, minibuses and other specialized diesel
vehicles will be included in the LEZ for the first time beginning January 3,
2012. These vehicles will have to meet a Euro III standard for PM in order to
drive within the LEZ free of charge.
Approximately 150,000 vehicles will be affected by the new regulations. Clean
Diesel believes that approximately 20,000 of these vehicles will require diesel
emission retrofit solutions.
Clean Diesel has begun to receive orders as a result of the changes to the
London LEZ, including repeat business from satisfied customers from 2008,
during which Clean Diesel believes it was the second largest supplier having
earned a market share of approximately 14%. With its experience, broad range of
products and an established distribution channel, Clean Diesel considers itself
to be well positioned to deliver reliable and cost-effective solutions to help
customers comply with the changes to the London LEZ. Given the compliance
deadline imposed by TfL of January 2012, Clean Diesel anticipates that most of
the retrofit activity will take place in the second half of 2011.
Charles F. Call, Chief Executive Officer, commented, 'The Greater London
Authority continues to take a strong position towards improving air quality and
we are pleased that TfL has accredited Clean Diesel as a supplier of emission
reduction solutions to help reduce pollution in Greater London. Our recent
business combination with Catalytic Solutions has enabled us to offer new, more
innovative emission reduction solutions utilizing technologies from both
companies. The UK ISO9001 certification adds to our existing ISO-certified
global manufacturing operations, which underscores our world-class development
and manufacturing capabilities. We believe that the anticipated growth of LEZ
initiatives in Europe and Asia provides an opportunity for Clean Diesel to
market and sell its emission reduction systems.'
For more information on Clean Diesel's LEZ solutions, please visit www.cdti.com.
More information on the London LEZ program may be found on the TfL website at:
http://www.tfl.gov.uk/lezlondon.
About the Company
Clean Diesel Technologies, Inc. (Nasdaq:CDTI), 'CDT' is, as a result of the
recent business combination with Catalytic Solutions, Inc. ('CSI'), a
vertically integrated global manufacturer and distributor of emissions control
systems and products, focused on the heavy duty diesel and light duty vehicle
markets. CDT utilizes its proprietary patented Mixed Phase Catalyst (MPC(r))
technology, as well as its ARIS(r) selective catalytic reduction; Platinum Plus(r)
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. CDT is headquartered in
Ventura, California, along with its wholly-owned subsidiary, CSI, and currently
has operations in the U.S., Canada, U.K., France, Japan and Sweden as well as
an Asian joint venture. For more information, please visit www.cdti.com and
www.catsolns.com.
The Clean Diesel Technologies, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5742
Forward-Looking Statements Safe Harbor
Certain statements in this news release such as statements about market share,
cost-savings, government emission reduction programs, growth of LEZ initiatives
and growth opportunity 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 the Company'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 following the business combination
with CSI 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: Kristi Cushing, Investor Relations Manager
Tel: +1 (805) 639-9458
News Source: NASDAQ OMX
16.03.2011 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Clean Diesel Technologies, Inc.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US18449C3025
WKN:
End of Announcement DGAP News-Service
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Datum: 16.03.2011 - 21:01 Uhr
Sprache: Deutsch
News-ID 368525
Anzahl Zeichen: 7080
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