VENTURA, Calif. — Clean Diesel Technologies, Inc. (Nasdaq:CDTI) (“CDTi”), a cleantech emissions control company, is pleased to announce that the California Air Resources Board (“CARB”) has issued an Executive Order which allows CDTi to advertise, sell and install its Purifilter(R) EGR diesel particulate filter (“DPF”) pursuant to an exemption while CDTi is waiting for a full and final verification from CARB. Accordingly, CDTi is now taking orders for this breakthrough technology.
Due to its unique design, Purifilter(R) EGR, a passively-regenerating DPF, provides exceptional filtration and regeneration efficiency for the removal of particulate matter. The product addresses a significant number of exhaust gas recirculation (“EGR”) equipped heavy duty trucks currently subject to the California Truck and Bus Regulation, which requires diesel trucks and buses that operate in California to be upgraded to reduce emissions by various deadlines.
With a full verification process currently underway by both CARB and the Environmental Protection Agency (“EPA”), receipt of this Executive Order enables CDTi to begin selling Purifilter(R) EGR to fleet operators while final verification is pending. CDTi is offering the Purifilter(R) EGR under the CARB After-Market Add-On Parts Exemption covered by the Executive Order. While not currently approved under CARB’s verification procedure and cannot be used for compliance with CARB fleet rules, the Executive Order does permit CDTi to advertise, sell and install Purifilter(R) EGR. In order to comply with CARB fleet rules, CDTi must perform one of the following by the fleet owner’s specific compliance requirement date: Receive verification from CARB and perform all necessary steps to ensure CARB fleet rule compliance; replace the system with a verified system at CDTI’s expense; or remove the installed system and reimburse the full price of the system.
CDTi received the Executive Order from CARB on November 15, 2012.
“We are extremely pleased to have received the Executive Order from CARB,” said Craig Breese, chief executive officer of CDTi. “The verification process has been lengthier than we had anticipated due to the unique and proprietary nature of the product. However, we remain confident that full verification by both CARB and the EPA will occur in the near future. We are delighted to add Purifilter(R) EGR to our impressive portfolio of emission reduction systems, and although the industry has experienced a slower than expected adoption rate under the Truck and Bus Regulation, we are confident in our ability to win business and continue our journey in leading the world in emission solutions.”
Forward-Looking Statements Safe Harbor
Certain statements in this news release, such as statements regarding the award of future verifications and the impact such verifications will have on business, the future adoption rate of retrofit solutions and the future or continued market acceptance of Company products 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 CDTi’s filings with the U.S. Securities and Exchange Commission, uncertainties and other factors that may cause the actual results, performance or achievements of CDTi 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. CDTi assumes no obligation to update the forward-looking information contained in this release.
