Key Developments: Clean Diesel Technologies Inc (CDTI.W)
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Latest Key Developments (Source: Significant Developments)
Pirelli & C. Ambiente and Clean Diesel Technologies Inc Form JV To Market And Sell Emission Control Products In Europe And CIS Countries
Pirelli & C. Ambiente SpA and Clean Diesel Technologies Inc announced the signing of an agreement to form a joint venture company to market and sell emissions control products for both gasoline and diesel applications in Europe and the CIS countries. The new joint venture company, Eco Emission Enterprise Srl, will be located in Milan, Italy, and is expected to begin operations in March 2013.Through the joint venture, CDTi and Pirelli aim to consolidate their leadership in supplying solutions to control polluting emissions for the on-road and off-road heavy and light duty markets, both in the Original Equipment and After Market segments. In addition, the two companies intend to enhance the synergies deriving from the joint venture through eventual joint initiatives. The agreement entails the supply to the joint venture of silicon carbide substrates by Pirelli & C. Eco Technology RO (Romania) and emission control solutions by CDTi. Eco Emission Enterprise Srl, which will have an international management team, will operate as the commercial arm for both partners on the European market. Full Article
Clean Diesel Technologies Inc Receives EPA Verification For Purifilter EGR
Clean Diesel Technologies Inc announced that it has received verification from the Environmental Protection Agency (EPA) for its Purifilter EGR emission reduction system. The uniquely designed Purifilter EGR, featuring CDTi's proprietary MPC technology, is a passively-regenerating diesel particulate filter that provides exceptional filtration and regeneration efficiency for the removal of particulate matter. The Purifilter EGR product addresses exhaust gas recirculation (EGR) equipped heavy duty trucks currently subject to EPA retrofit requirements in the United States, excluding California. CDTi is well underway in a full verification process with the California Air Resources Board (CARB) for verification in California. Purifilter EGR is currently being sold and installed in California under an Executive Order pursuant to an After-Market Add-on Parts Exemption issued by CARB pending issuance of full and final verification. Full Article
Clean Diesel Technologies Inc Announces Company Name Change To CDTi
Clean Diesel Technologies Inc announced that the Company and its subsidiaries will operate under the name CDTi, effective immediately. Clean Diesel Technologies, Inc. will remain as the legal name. Full Article
Clean Diesel Technologies Inc Announces $3.0 Million Loan From Long-term Shareholder
Clean Diesel Technologies Inc announced today that it has entered into a loan agreement with an existing investor (the "Investor") pursuant to which Clean Diesel borrowed $3.0 million. The principal amount of the loan, along with interest, which will accrue at a rate of 8% per year, will be due and payable in full in July 2015. Clean Diesel intends to use proceeds from the loan for working capital and general corporate purposes. The Company had cash and cash equivalents of approximately $3.4 million as of June 30, 2012. Full Article
Clean Diesel Technologies Inc. Secures New Orders Under New Jersey's Mandatory State-Funded Diesel Retrofit Program
Clean Diesel Technologies Inc. announced that its Heavy Duty Diesel Systems division has won new orders valued at approximately $700,000 for its verified (approved) emission control products. The new orders were received under the New Jersey Department of Environmental Protection (NJDEP) Mandatory Diesel Retrofit Program. To date, Clean Diesel has won over $3.4 million in orders under the program. Shipments of these new orders are expected to be completed in the second quarter of 2012. Full Article
Clean Diesel Technologies Inc. Announces Appointment Of R. Craig Breese As President And CEO
Clean Diesel Technologies Inc. announced that effective March 8, 2012, its Board of Directors has named R. Craig Breese as its new President and Chief Executive Officer (CEO) and has appointed him to serve on the Company's Board of Directors. Mr. Breese succeeds Charles F. Call, who in December 2011 announced his intention to retire as President and Chief Executive Officer. Full Article
Clean Diesel Technologies Inc. Secures Additional $1.7 Million In Orders Under New Jersey And California Diesel Retrofit Programs
Clean Diesel Technologies Inc. announced that its Heavy Duty Diesel Systems division has won new orders valued in excess of $1.7 million for its verified emission reduction products. The new orders were received under the New Jersey Department of Environmental Protection (NJDEP) Mandatory Diesel Retrofit Program and Air Resources Board's Lower Emission School Bus Program in Northern California . Shipments of these new orders have commenced and are expected to be completed in early 2012. Full Article
Clean Diesel Technologies Inc. Announces Retirement Of Chief Executive Officer In 2012
Clean Diesel Technologies Inc. announced that Charles F. Call has informed the Board of Directors of his plan to retire as President and Chief Executive Officer. Mr. Call, will continue to serve until a successor has been named and the Chief Executive Officer transition is complete. Mr. Call will remain a member of the Board of Directors, and the Board will appoint him as Vice Chairman at the time of his retirement. Clean Diesel has retained a nationally recognized executive recruiting firm, to advise the Board on potential candidates and has commenced a comprehensive internal and external search for a new Chief Executive Officer. In the mean time, Mr. Call will remain in his current role to ensure leadership stability and continuity for Clean Diesel. Full Article
Clean Diesel Technologies Inc.'s Division Wins $1.7 Million In Orders Under New Jersey's Mandatory State-Funded Diesel Retrofit Program
Clean Diesel Technologies Inc. announced that its Heavy Duty Diesel Systems division has won orders valued in excess of $1.7 million for its verified (approved) emission reduction products under the New Jersey Department of Environmental Protection (NJDEP) Mandatory Diesel Retrofit Program. The program requires the retrofitting of a variety of vehicles and equipment by established deadlines at the State's expense. Clean Diesel expects shipments of these orders to occur in the fourth quarter of 2011. Full Article
Clean Diesel Technologies Inc. Supplies Products For The Retrofit of School Buses In Northern California
Clean Diesel Technologies Inc. announced that its Heavy Duty Diesel Systems division has received nearly $1.3 million in new orders for its verified (approved) emission reduction products under the California Air Resources Board's Lower-Emission School Bus Program to be used in the retrofitting of Northern California school buses. Shipments and revenue recognition began in the third quarter and are expected to be completed in the fourth quarter of 2011. The orders were received from Emissions Retrofit Group, a key distributor of Clean Diesel's ECS-branded emission reduction products. The orders consist primarily of Purifilter Plus diesel particulate filter (DPF) emissions reduction systems. Full Article
Pirelli, Clean Diesel Technologies in emissions control JV
MILAN, Feb 20 - Italian tyre maker Pirelli and Clean Diesel Technologies said on Wednesday they plan to team up to sell pollution control systems for gasoline and diesel engines starting in March 2013.
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