CDTi Accelerates Development of Its Materials Science Platform as It Completes Strategic Review of Its Business
Clean Diesel Technologies, Inc. (Nasdaq: CDTI) ("CDTi" or the "Company"), a leader in advanced emissions control solutions, announced today that it has conducted a strategic review of its business and determined to pursue aggressive development of its unique materials science platform, which it views as the most likely path to enhance growth and improve shareholder value over the long-term. The strategy is intended to build on recent announcements and initiatives, including the appointment to its Board of Directors of Dr. Lon E. Bell, a noted technologist with significant product commercialization experience, an increased focus on patenting its proprietary, advanced low- and zero-platinum group metal technologies and the implementation of a joint-venture with Pirelli Group to market their combined catalogue of emission control products in Europe. The Company intends to pursue additional licensing and partnership arrangements to accelerate the commercialization of its patented and proprietary materials technology and reduce its need for additional, significant capital expenditures to expand its manufacturing platform.
CDTI's strategic priorities are:
Explore strategic options to maximize the value of existing manufacturing assets and business; Focus R&D on technology development, patent protection and commercialization of advanced low-platinum group metal ("PGM") and zero-platinum group metal ("ZPGM") technologies; Aggressively build patent portfolio to maintain and protect technology leadership; Develop and qualify emission catalysts for OEMs and partners; and Seek customers or partners for core emissions control technology via licensing, joint-venture or manufacturing agreements. This strategy builds on CDTi's core competencies, including its world-class materials science platform, unique rapid prototyping, and proven and scalable manufacturing capabilities. In addition, CDTi's experience serving a multitude of OEM customers for many years, such as Honda, Ford, GM and Renault, provides a strong foundation to introduce a potentially disruptive emissions catalyst to this large and growing market.
"CDTi was the pioneer in the creation of advanced low-PGM catalysts and has been successful in validating its production process and proven to be a reliable supplier to multiple OEM customers. Our strategic direction is firmly rooted in this foundation and is designed to significantly improve CDTi's opportunity to be a provider of state-of-the-art emission solutions at significantly lower costs than the competition. We believe this strategy will take us in the direction in which the emissions control market itself is moving and position us well to capitalize on developing new opportunities and exploring applications in new end markets. We are moving aggressively to implement our strategies and while full traction will take time to develop, we believe that our success will ultimately result in profitable, sustained growth and improved value for our shareholders," said Craig Breese, President and CEO of CDTi.
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