July 19, 2011
Clean Diesel Technologies, Inc. Chosen as Catalyst Supplier to Fisker Automotive
Fisker Karma, the world's first premium plug-in hybrid electric vehicle, to use Clean Diesel's patented mixed phase catalyst technology to help achieve low emission output
VENTURA, Calif., July 19, 2011 /PRNewswire/ -- Clean Diesel Technologies, Inc. (NASDAQ: CDTI) ("Clean Diesel"), a cleantech emissions reduction company, announced today that it has been chosen as a catalyst supplier to Fisker Automotive ("Fisker"), an American manufacturer of the first premium plug-in hybrid electric vehicles with extended range. Clean Diesel is supplying catalysts utilizing its patented mixed phase catalyst (MPCÃ®) technology for the Karma, Fisker's new luxury sedan, which starts shipping to both European and U.S. retailers this month.
With a price range between $95,800 and $108,000, the Karma combines world-class style and performance with some of the lowest emissions among electric vehicles with extended range. According to Fisker, this is the world's first true Electric Vehicle with extended range ("EVer(TM)"). Clean Diesel commenced catalyst shipments to Fisker in the first quarter ended March 31, 2011.
"This is a new developing market for Clean Diesel; we are proud that Fisker has chosen us as the exclusive catalyst supplier for the highly innovative Karma, a vehicle we believe will set new standards for environmental sustainability and accountability," said Charles Call, Chief Executive Officer of Clean Diesel. "Clean Diesel has long been active in the research and development of more cost-effective solutions for automotive catalytic converters as emission standards around the world continue to tighten. Through this ongoing process, our team has developed proprietary and patented catalyst technology for state-of-the-art gasoline engines that meet Fisker's high performance standards," added Mr. Call.
Bernhard Koehler, Chief Operating Officer of Fisker said, "The launch of the Fisker Karma is a breakthrough in the important new class of high performance electric vehicles with extended range - demonstrating innovation in design and engineering. The choice of Clean Diesel as the catalyst supplier allows us to access the best-in-class emissions control technology."
Increased pressure on fuel economy has led to a series of innovative powertrain options such as hybrid, gasoline direct injection and expanded use of turbo-chargers. Clean Diesel offers a wide range of fully-developed products to meet new, higher performance requirements at reduced precious metal levels. In addition, the design versatility of Clean Diesel's MPCÃ® technology facilitates the sustainable use of precious resources while enabling customers to meet rapidly evolving emission control requirements with confidence.
About Fisker Automotive
Fisker Automotive is an American car company, founded in 2007, committed to producing electric vehicles with extended range (EVer) that deliver uncompromised responsible luxury. The Fisker Karma Sedan is the world's first premium electric plug-in hybrid representing the company's firm belief that environmentally conscious cars need not sacrifice passion, style, or performance. Fisker Automotive is a global company that is redefining luxury for the modern sports car buyer. For more information on the brand and the Fisker Karma sedan, please go to http://fiskerautomotive.com.
About Clean Diesel Technologies, Inc.
Clean Diesel is a vertically integrated global manufacturer and distributor of emissions control systems and products, focused on the heavy duty diesel and light duty vehicle markets. Clean Diesel utilizes its proprietary patented Mixed Phase Catalyst (MPCÃ®) technology, as well as its ARISÃ® selective catalytic reduction, Platinum PlusÃ® 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. Clean Diesel is headquartered in Ventura, California and currently has operations in the U.S., Canada, U.K., France, Japan and Sweden. For more information, please visit www.cdti.com.
Forward-Looking Statements Safe Harbor
Certain statements in this news release, such as those relating to plug-in hybrid electric vehicles being a developing market, 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 Clean Diesel'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 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.
For additional information, please contact:
Investor Contact: Kristi Cushing Tel: +1 (805) 639-9458 Email: [email protected] Media Contact: Stacy Dimakakos Tel: +1 (917) 981-5501 Email: [email protected]
SOURCE Clean Diesel Technologies, Inc.