Company: Clean Diesel Technologies (Catalytic Solutions)
Source: Clean Diesel Technologies
VENTURA, Calif., May 25, 2011 /PRNewswire/ — Clean Diesel Technologies, Inc. (NASDAQ: CDTI) (“Clean Diesel”), a cleantech emissions reduction company, announced today that its Heavy Duty Diesel Systems division has received nearly $2.0 million in orders for its verified (approved) emission reduction products. Clean Diesel’s receipt of these orders, which represent approximately 200 emission reduction systems, follows the announcement on April 6, 2011 by the State of California’s Air Resources Board (CARB) of a special compliance option for California on-road diesel fleets pertaining to the current “Truck and Bus Regulation.” CARB offered an early action compliance credit for trucking fleets that install a diesel particulate filter by July 1, 2011 or that made a commitment to purchase a diesel particulate filter by May 1, 2011. The early action “buy-one-get-one-free” credit applies to heavier trucks and there is no limit on how many trucks in the fleet can earn the early adoption credit.
Charles Call, Chief Executive Officer of Clean Diesel Technologies, Inc., said, “The orders that we have been anticipating to meet California’s aggressive on-road diesel emissions standards have started to flow. This first wave is preliminary but it is the signal we have been waiting for. Ultimately, we believe that well over 100,000 trucks will have to comply with the regulations, largely between 2012 and 2014. This is excellent news and comes as a result of CARB’s leadership and commitment; California continues to meet its air quality obligations by providing businesses with a variety of options to reduce soot from diesel engines. Our customers’ need for economical solutions that satisfy environmental regulations has been at the heart of our technology strategy. The CARB incentive program clearly demonstrates that this technology can be good for business and the environment.
“Our existing broad portfolio of verified products coupled with additional technologies that we are in the process of obtaining approval for, are a huge benefit for us. We now have customer-ready products to sell throughout 2011 with potentially more products available in 2012 and beyond. Our customers can have confidence in the technology choice they must make to meet emissions standards. We, as a company, are prepared to meet this expected growth in demand in 2011 and beyond.”