Initial vehicle tests were conducted at an independent test facility using the industry standard Federal Test Procedure (FTP) on a model year 2014 Buick Regal 2.0 liter turbo-charged gasoline direct injection (GDI) engine. The data demonstrated that a Spinel underfloor catalyst with 97% less platinum group metal (PGM) achieved emissions control performance equivalent to the OEM catalyst. The Spinel catalyst PGM loading was 2g/ft3 compared to 59g/ft3 for the OEM catalyst. The Spinel catalyst at 2g/ft3 also provided equivalent performance to the OEM catalyst at 22g/ft3 on a 2014 Toyota Camry with a 2.5 liter naturally-aspirated engine - a PGM savings of 91%. For many passenger cars, these levels of PGM reduction could translate into double-digit dollar cost savings per vehicle, reinforcing Spinel's strong value proposition for OEMs.
"These encouraging initial results from rigorous FTP testing demonstrate the significant potential of our Spinel technology," stated
"We are excited about recent results for Spinel and our other next-generation technologies - BMARS™ and SPGM™ DOC. These technologies could enable the light and heavy duty vehicle industries to reduce the billions of dollars currently spent on PGMs, as well as address the increasing risks of supply constraints and price volatility surrounding strategic materials like PGMs and rare earths," Harris concluded.
Benchmark Testing Results
The chart below summarizes the results of the initial vehicle testing conducted on the 2014 Buick Regal at an independent test facility using the industry standard FTP. Results show the oxides of nitrogen (NOx) emission of the OEM system, consisting of a close-coupled catalyst and an underfloor catalyst, compared to the OEM close-coupled catalyst with CDTi's Spinel underfloor catalyst. The PGM cost reflects that of the underfloor catalyst only, with the PGM price calculated as of
A chart accompanying this release is available at http://media.globenewswire.com/cache/9503/file/34558.jpg
The Spinel™ platform is a family of proprietary materials using various base metals that replace costly platinum group metals (PGMs) and rare earth metals in coatings on standard catalytic converters. Spinel is expected to work across a wide range of engine and vehicle applications - both gasoline and diesel - and has the potential for significant cost savings for OEMs by dramatically reducing or eliminating expensive PGMs and rare earth metals. The technology could enable early, cost-effective compliance with stricter emissions standards in the U.S. and around the world, while mitigating OEM exposure to supply uncertainty and price volatility in the PGM and rare earth markets. More information may be obtained at www.cdti.com/spinel.
CDTi manufactures and distributes vehicle emissions control products that leverage its advanced materials technology. CDTi utilizes its proprietary patented Mixed Phase Catalyst (MPC®) technology and other related technologies to provide high-value sustainable solutions to reduce emissions, increase energy efficiency and lower the carbon intensity of on- and off-road combustion engine systems. Reflecting its continued focus on innovation, CDTi is developing and commercializing proprietary advanced low-platinum group metal (PGM) catalysts including synergized-PGM (SPGM™), as well as zero-PGM (ZPGM™) catalysts. CDTi is headquartered in
Certain information contained in this press release constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, 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", "promises", 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 press release, the Company includes forward looking statements regarding the potential benefits of CDTi's Spinel technology based on recent test results, and the anticipated further testing, development, potential applications, commercialization
opportunities and potential benefits of CDTi's catalyst technologies including Spinel. 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) Spinel technology may not achieve results with close-coupled catalysts similar to the results for underfloor catalysts; and, moreover, products or technologies such as Spinel may not achieve the same results in commercial environments as they do in test settings; (ii) that the Company may not be able to (a) decrease costs, (b) increase sales, (c) obtain adequate funding, (d) retain existing or secure new customers (e) protect its intellectual property, (f) successfully evolve into an advanced materials supplier or, even if successful, achieve profitability, (g) successfully market new products; (h) obtain required product
verification or approvals, (i) attract or retain key personnel, or (j) realize benefits from investments; (iii) prices of PGM and rare earth metals; (iv) supply disruptions or failures; (v) regulatory, marketing and competitive factors; (vi) environmental harm or damages, (vii) changes in domestic and international market and political conditions; and (viii) other risks and uncertainties discussed or referenced in the Company's filings with the
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