Clean Diesel Technologies, Inc. Accredited for London's Low Emission Zone
VENTURA, Calif., March 16, 2011 (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®) 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. 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
Source: Clean Diesel Technologies, Inc.
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