OXNARD, Calif., Aug. 5, 2014 (GLOBE NEWSWIRE) -- Clean Diesel Technologies, Inc. (Nasdaq:CDTI) ("CDTi" or the "Company"), a leader in advanced emission control solutions, today officially launched DuraFit™, its new line of all makes original equipment manufacturer (OEM) replacement diesel particulate filters (DPFs) — leveraging their proprietary catalyst technology within a new market segment. Designed and manufactured in North America, DuraFit™ DPF's are cost-effective, exact-fit alternatives to OEM replacements, meet or exceed OEM emission requirements, and are fully supported by CDTi's nationwide distributor network and field application specialists. Sales of CDTi's DuraFit™ DPFs commenced in June.
CDTi's DuraFit™ DPFs address a growing opportunity in the heavy duty aftermarket to replace original equipment DPF units. According to market analysis firm Power System Research, North American OEMs have produced an average of 250,000 heavy duty on-road diesel vehicles equipped with DPFs each year since 2007 to comply with Environmental Protection Agency requirements. The typical OEM warranty on DPFs is 5 years and has expired for many of these vehicles with more continuing to expire in the coming years. As 2007 and newer DPFs from OEMs fail and require replacement, aftermarket DPFs are needed as replacements – creating this emerging opportunity. According to a 2012 industry report, the market for medium and heavy duty vehicle after-treatment maintenance and repair is projected to grow from $0.5 billion in 2010 to $3.0 billion by 2017.
According to Ian MacDonald, CDTi's Vice President of Sales, "When you choose DuraFit™, you're choosing a replacement built to improve durability and keep your equipment running longer. DuraFit™ DPFs provide emissions reductions equivalent to OEM units and are designed for quick installation to get your equipment back in service faster. Our existing emission technologies and over 30 years of heavy-duty diesel experience, positions us to efficiently service this new market opportunity."
For more information on CDTi's line of DuraFit™ products, retrofit emission systems or exhaust components, visit CDTi in booth 223 at the ADS Convention and Trade Show, August 5-8, 2014 in Las Vegas, NV (www.diesel.org). For additional information, please visit www.durafit-exhaust.com, and to find your local distributor, email info@durafit-exhaust.com or call toll free +1-800-661-9963.
About CDTi
CDTi is a vertically integrated global manufacturer and distributor of emission control systems and products, focused on the heavy duty diesel and light duty vehicle markets. CDTi utilizes its proprietary patented Mixed Phase Catalyst (MPC®) technology, as well as its ARIS® selective catalytic reduction, Platinum Plus® fuel-borne catalyst, and other related technologies to provide high-value sustainable solutions to reduce emission, increase energy efficiency and lower the carbon intensity of on- and off-road combustion engine systems. CDTi is headquartered in Oxnard, California and currently has operations in the U.S., the U.K., Canada, France, Japan and Sweden. For more information, please visit www.cdti.com.
Forward-Looking Statements Safe Harbor
Certain information contained in this press release constitutes forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. Any statements contained herein that are not statements of historical fact should be considered forward-looking statements. You can identify these forward-looking statements by the use of the words "believes", "expects", "anticipates", "plans", "may", "will", "would", "intends", "estimates", and other similar expressions, whether in the negative or affirmative. Forward-looking statements are based on a series of expectations, assumptions, estimates and projections which involve substantial uncertainty and risk. In this document, the Company includes forward looking statements regarding opportunities, continuing expirations of OEM warranties on DPFs, market growth, and the anticipated performance characteristics of DuraFit™. In general, actual results may differ materially from those indicated by such forward-looking statements as a result of risks and uncertainties, including but not limited to the risks and uncertainties discussed or referenced in the Company's filings with the Securities and Exchange Commission. In addition, any forward-looking statements represent the Company's estimates only as of the date such statements are and should not be relied upon as representing the Company's estimates as of any subsequent date. The Company specifically disclaims any obligation to update forward-looking statements. All forward-looking statements in this press release are qualified in their entirety by this cautionary statement.