Clean Diesel Technologies, Nalco Fuel Tech sign agreement to commercialize diesel engine.STAMFORD, Conn.--(BUSINESS WIRE)--Oct. 31, 1996-- NOx Control Technologies Clean Diesel Technologies Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CDTI CDTI Centro Para el Desarrollo Tecnológico Industrial (Spain) CDTI Cockpit Display of Traffic Information CDTI Common rail Diesel Turbo Injection CDTI Commercial Driver Training Institute (Pakistan) ) and Naperville, Ill.-based Nalco Fuel Tech (NFT NFT - Network File Transfer. An INTERLINK command on CERNVM. ) on Thursday announced a cooperative agreement to commercialize various diesel engine NOx control technologies, both in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and abroad. Under a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. , the companies will demonstrate and market several such technologies, including water-in-fuel emulsions and urea-based lean NOx catalyst systems. NFT is a joint venture between Nalco Chemical and Fuel-Tech N.V.; CDTI was formed in 1995 as a spin-off from Fuel Tech. The agreement is expected to be formalized for·mal·ize tr.v. for·mal·ized, for·mal·iz·ing, for·mal·iz·es 1. To give a definite form or shape to. 2. a. To make formal. b. by year-end. The agreement calls for NFT to play the prime role in commercialization efforts for the stationary diesel power generation market, where NFT is already a leader in supplying its urea-based NOxOUT Process to power generators, municipal waste combustors and industrial furnaces. CDTI will focus on applications in the transportation sector, including on- and off-highway, railroad and marine. CDTI is actively engaged in development and commercialization of emission control The selective and controlled use of electromagnetic, acoustic, or other emitters to optimize command and control capabilities while minimizing, for operations security: a. detection by enemy sensors; b. mutual interference among friendly systems; and/or c. technologies for diesel engines, including its Platinum Plus diesel fuel catalyst for control of particulate, hydrocarbon and carbon monoxide carbon monoxide, chemical compound, CO, a colorless, odorless, tasteless, extremely poisonous gas that is less dense than air under ordinary conditions. It is very slightly soluble in water and burns in air with a characteristic blue flame, producing carbon dioxide; emissions. Nalco Fuel Tech CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Steven Argabright commented, "This agreement will allow us to leverage NFT's expertise in urea-based NOx control and chemical distribution into the rapidly developing market for diesel engine NOx emission control." CDTI Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. James Valentine added, "Working with NFT will afford CDTI a faster response to the requests of diesel engine manufacturers, government regulators and end-users for cost- effective NOx control options. "We've already demonstrated pre-stabilized water-in-oil emulsions and urea-SCR systems that have respectively removed from 15 to 45 percent and up to 90 percent of NOx," he continued. "Now it's our joint intention to form strategic alliances with engine, fuel and catalyst companies to facilitate the introduction of these technologies to the market place. Several programs are already underway with strategic partners and we anticipate commercialization to begin some time during 1997-98." NOx emissions from diesel engines are a major contributor to ground-level ozone. Regulations in the United States and Europe have been passed affecting NOx emission limits on new vehicles beginning in 2002-2004; both the public and private sectors are seeking cost-effective solutions to reducing NOx emissions from existing vehicle fleets. Clean Diesel Technologies is a development-stage company with patent-protected products that reduce emissions from diesel engines while simultaneously improving fuel economy and power. The company's R&D activities and products are grouped into two categories: Platinum Fuel Catalysts (PFCs) and Nitrogen Oxide (NOx) reduction systems. Platinum Plus is a registered trademark of Clean Diesel Technologies. Nalco Fuel Tech is a 50/50 joint venture between Nalco Chemical Company and Fuel Tech N.V. The company is a leader in marketing post-combustion NOx control systems. Its NOxOUT Process is installed at more than 200 plants worldwide. NOxOUT is a registered trademark of Fuel Tech Inc. CONTACT: Clean Diesel Technologies Inc., Stamford James Valentine, 203/327-7050 or Allen & Caron Inc/South Coast Communications Michael Hardesty (investors) 212/698-1360 Owen Daley (media) 714/252-8440 |
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