Clean Diesel Technologies Reports Fourth Quarter and Fiscal Year 2011 Financial Results; Revenue $21.3M

Clean Diesel Technologies, Inc.

, a cleantech emissions reduction company, announced today its financial results for the fourth quarter and fiscal year ended December 31, 2011. The highlights are as follows: o Record fourth quarter revenue of $21.3 million, up 80.5% year over year o Income from operations of $0.2 million in fourth quarter 2011 compared to loss from operations of $3.9 million in 2010 o Record fiscal year 2011 revenue of $61.6 million, up 28.0% year over year "Fourth quarter revenue exceeded our expectations, recording growth of over 80%," said Craig Breese, Chief Executive Officer of Clean Diesel. "Sales in our Heavy Duty Diesel Systems division more than doubled compared to the prior year quarter. This was led by strong sales, both in the London Low Emission Zone ("LEZ") and the North America retrofit market. Meanwhile, external sales for our Catalyst division grew more than 17% compared to the prior-year quarter.