BRIDGEPORT, Conn., Sept. 21, 2010 (GLOBE NEWSWIRE) -- Clean Diesel Technologies, Inc. ("CDTI") (Nasdaq:CDTI), a cleantech emissions reduction company, today announced that it has reached a commission agent agreement with MJLF & Associates, Inc. ("MJLF"), a prominent shipbroker known for its leadership in worldwide shipping markets including chartering, sale, purchase and new construction. MJLF's far reaching relationships with ship owners and fuel suppliers, their involvement in the economic and regulatory trends impacting them, and CDTI's strategy to expand its emission reduction business into the growing marine and off-road market segments creates a synergistic intersection and a means for each company to expand its mutual business interests by leveraging respective core competencies. For CDTI, the relationship with MJLF is a key component of its strategy to utilize a specialized network of distributors to address market opportunities for its Platinum Plus® fuel additive and Purifier® family of emission control products more efficiently and cost effectively than ever before. For MJLF, the relationship provides an opportunity to supply additional value to global customers. Under the terms of the agreement, MJLF will identify key distributors for CDTI's fuel additive and emission control products in the marine and locomotive market segments.
Clean Diesel's CEO and President Michael L. Asmussen stated, "This agreement is the product of several months of work and represents a significant step forward in our strategy to aggressively address two growing market segments critical to CDTI's long term success. While previous attempts to penetrate these markets directly have not delivered the desired result, we are confident that MJLF's worldwide presence and extensive relationship network with large target customers will provide the visibility and credibility we need to build our high value fuel efficiency and emission control business across the globe. CDTI looks forward to a long and successful partnership with MJLF."
About Clean Diesel Technologies, Inc.
Clean Diesel Technologies 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 significantly reduce emissions formed by the combustion of fossil fuels and biofuels, including particulate matter (PM), nitrogen oxides (NOx), carbon monoxide (CO) and hydrocarbons (HC)—without increasing secondary emissions, such as nitrogen dioxide (NO2). As a result, they are effective for: OEMs, Tier 1 suppliers and retrofit providers; businesses seeking solutions and expertise upon entering the emissions control market; operators requiring compliant emissions solutions; fuel, biofuel and additive suppliers seeking low emissions and energy efficient products; and regulators creating public policy. Clean Diesel's solutions, therefore, are ideal for on-road vehicles and applications in a wide range of industries, including construction, mining, agriculture, port/freight handling, locomotive, marine and power generation.
Clean Diesel develops and manages intellectual property from original concept to full-scale commercial deployment. Building on almost 200 granted and pending patents, its offerings include ARIS® selective catalytic reduction (SCR); the patented combination of SCR and exhaust gas recirculation (EGR); hydrocarbon injection for emissions control applications; Platinum Plus® Fuel-Borne Catalyst (FBC); the Purifier™ family of particulate filter systems; and its wire mesh particulate filter technologies. The Company was founded in 1995 and is headquartered in Bridgeport, Connecticut. A wholly-owned subsidiary, Clean Diesel International, LLC is based in London, England.
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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.
CONTACT: Clean Diesel Technologies, Inc. John Wynne, Vice President, Treasurer and Interim Chief Financial Officer (203) 416-5290 firstname.lastname@example.org