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14:49 | 21.10.2008
DJ HUGIN NEWS/Clean Diesel Technologies, Inc. Named One of 40 Fastest-growing Technology Companies in Connecticut
DJ HUGIN NEWS/Clean Diesel Technologies, Inc. Named One of 40 Fastest-growing Technology Companies in Connecticut
Corporate news announcement processed and transmitted by Hugin AS.
The issuer is solely responsible for the content of this
announcement.
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Stamford, CT - October 21, 2008 - Clean Diesel Technologies, Inc.
(NASDAQ:CDTI; XETRA:CDIA; AIM:CDT), the cleantech emissions reduction
company, has been named to the Connecticut Technology Council's
inaugural UHY LLP Tech Top 40 program, a listing of the 40
fastest-growing software, IT, new media, advanced manufacturing,
energy/telecom/green tech and life sciences companies in Connecticut.
The list of winning companies was compiled on the basis of revenue
growth over the last four years.
Clean Diesel Technologies CEO, Dr. Bernhard Steiner, credits
strategic partnerships and licensing agreements, growth in global
sales, new technology verifications and strong leadership for the
company's rapid rate of growth. Revenues for the company increased
from $567,000 for the year ended December 31, 2003 to $4.9 million
for the year ended December 31, 2007.
Dr. Steiner said, "As a leader in the cleantech space, we are
delighted to be recognized as one of Connecticut's fastest growing
companies. With over 70 million diesel engines currently in use
worldwide and over 15 million new engines going into service
annually, solutions like ours will continue to play a growing role in
meeting increasingly stringent emission regulations and carbon
reduction targets. Our distinctive business model provides core
emission reduction technologies to manufacturers of new engines while
also offering retrofit solutions to clean up and make existing
engines compliant with current regulations. Clean Diesel's
technologies can reduce particulate matter over 95%, oxides of
nitrogen by over 90%, increase fuel efficiency and lower the climate
change impact of heavy-duty, light-duty and passenger car diesel
engines.
As new engines continue to get cleaner, the relative share of air
pollution from old engines becomes more prominent. In response,
regulators are focusing attention on existing engines with
legislation such as California's Off-road Rule, passed in June 2008,
and the creation of low emission zones throughout Europe.
Dr. Steiner also notes that cleantech is clearly a fast growing
sector despite recent international turmoil in the financial markets.
Clean Diesel's business continues to be driven by global regulations
to improve air quality and expanding commitments to reduce
environmental impact. Recent spikes in energy costs and the rising
concern of climate change also highlight the energy efficiency
elements inherent in Clean Diesel's solutions. Clean Diesel sees
tremendous growth opportunity as a result and is proud to continue
leading the way in emissions reduction to create a healthier
environment.
For more information on the UHY LLP Tech Top 40 and/or the
Connecticut Technology Council, visit the Connecticut Technology
Council's website at www.ct.org.
About Clean Diesel Technologies
Clean Diesel Technologies (NASDAQ: CDTI) is a cleantech company
providing sustainable solutions to reduce emissions, increase energy
efficiency and lower the carbon intensity of on- and off-road engine
applications. Clean Diesel's patented technologies and products allow
manufacturers and operators to comply with increasingly strict
regulatory emissions and air quality standards, while also improving
fuel economy and power. The Company's solutions, which are in
commercial use worldwide, significantly reduce emissions formed by
the combustion of fossil fuels and biofuels, including particulate
matter (PM), nitrogen oxides (NOx), carbon monoxide and hydrocarbons.
Clean Diesel solutions also reduce carbon dioxide (CO2) emissions, a
key greenhouse gas associated with global climate change.
Clean Diesel develops and manages intellectual property from original
concept to full-scale commercial deployment. Its offerings include
ARIS® Selective Catalytic Reduction (SCR); the patented combination
of SCR and Exhaust Gas Recirculation; hydrocarbon injection for
emissions control applications; Platinum Plus® Fuel-Borne Catalyst
(FBC); the Purifier(TM) family of particulate filter systems; and its
Wire Mesh Filter particulate filter technologies. The Company was
founded in 1995 and is headquartered in Stamford, Connecticut. A
wholly owned subsidiary, Clean Diesel International, LLC, is based in
London, England. For more information, please visit www.cdti.com.
About UHY LLP
UHY LLP is a licensed independent CPA firm that performs attest
services for UHY Advisors, Inc. UHY Advisors, Inc. provides tax and
business consulting services through wholly owned subsidiary entities
that operate under the name "UHY Advisors." UHY Advisors, Inc. and
its subsidiary entities have more than 1300 professionals providing
services from 23 offices across the United States. UHY Advisors, Inc
and its subsidiaries are not licensed CPA firms. UHY LLP and UHY
Advisors, Inc. are independent members of UHY International.
www.uhyllp-us.com
About The Connecticut Technology Council, Inc.
The Connecticut Technology Council is the state's industry
association for the technology sector. CTC's mission is to "connect
people, ideas and opportunities to the global technology and
innovation community." CTC provides members with business assistance
and specialized programs, in addition to promoting and supporting
public policies that position Connecticut to have a globally
recognized "culture of innovation" that helps attract great ideas and
entrepreneurs to in turn develop new jobs and wealth for the state.
www.ct.org
Certain statements in this news release 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 the Company's filings with
the U.S. Securities and Exchange Commission, uncertainties and other
factors which may cause the actual results, performance or
achievements of the Company, or industry results, 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.
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Contacts:
Matter Communications Clean Diesel Technologies, Inc.
(Technical press inquiries) John Lash
Jacqueline Volovich +1 203 327 7050
+1 415 984 6281 jlash@cdti.com
jackie@matternow.com
Crescendo Communications, LLC Charles Stanley Securities
(U.S. investor contact) Nominated Adviser
David K. Waldman or Klea Theoharis Philip Davies / Freddy Crossley
+1 212 671 1020 +44 20 7149 6457
cdti@crescendo-ir.com
Innovator Capital Limited
(Financial press inquiries)
Shaun Brown
Jade Summer
+44 20 7297 6840
jade.summer@innovator-capital.com
The press release can be downloaded from the following link:
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Clean Diesel Technologies, Inc.
300 Atlantic Street, Suite 702
Stamford, CT USA
WKN: 898074; ISIN: US18449C1045;
Listed: Xetra Stars in Frankfurter
Wertpapierbörse;
http://hugin.info/136602/R/1261661/276332.pdf
http://www.cdti.com
Copyright © Hugin AS 2008. All rights reserved.
(END) Dow Jones Newswires October 21, 2008 08:49 ET (12:49 GMT) |
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