Clean Diesel Technologies Inc. Signs Letter of Intent to License Mitsui & Co., Ltd. For Exclusive Distribution in Japan of Platinum Plus and ARIS SCR Diesel Emission Reduction Technologies.Business Editors STAMFORD, Conn.--(BUSINESS WIRE)--July 6, 2000 Tokyo Metropolitan Government Calls for Diesel Emissions Control Clean Diesel Technologies, Inc. (EBB: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) ) Thursday announced that it has signed a Letter of Intent (LOI LOI Letter of Indemnity (international trade and carriage business) LOI Letter Of Intent LOI Loss On Ignition LOI Letter of Inquiry LOI Lack Of Information LOI Lack of Interest LOI Letter of Invitation LOI List Of Items ) with Tokyo-based Mitsui & Co., Ltd., for the exclusive marketing and sales of its Platinum Plus(R) bimetallic bi·me·tal·lic adj. 1. Consisting of two metals, often bonded together and having different rates of thermal expansion. 2. Of, based on, or using the principles of bimetallism. fuel borne catalyst (FBC See fully buzzword compliant. ) and ARIS ARIS American Religious Identification Survey ARIS Architecture of Integrated Information Systems ARIS Active Rack Isolation System ARIS Aggregate Route-based IP Switching ARIS Agentia Romana pentru Investitii Straine (TM) 2000 urea SCR (Sequence Control Register) See program counter. technologies in Japan. Under the LOI, the parties will conduct field trials and complete a market assessment prior to executing a formal license agreement targeted for year-end 2000. Such license is intended to include customary license fees, purchase requirements and running royalties. CDT will provide Mitsui with samples of both technologies under the LOI and technical program support, for which it will be compensated by Mitsui under a limited license agreement during the term of the LOI. Japan recently announced plans to fit new and existing diesel powered vehicles with filters to reduce particulates and has also called for further reductions in NOx emissions. The Tokyo Metropolitan Government called for retrofit particulate control programs on more than 900,000 vehicles operating within the city limits starting in 2002-2003. Both the ARIS technology and the Platinum Plus FBC have been demonstrated to provide reductions in diesel NOx and particulate emissions in excess of 85 percent with current sulfur fuels. About Mitsui & Co., Ltd. Mitsui & Co., Ltd. is one of world's largest and most diversified international trading companies, with business extending from chemicals to steel and metals to transportation machinery. Its Inorganic Chemical Group, together with a unit of Mitsui & Co.(USA), Inc., Mitsui's wholly owned U.S. subsidiary with headquarters in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , is working with several industrial partners active in engineering, fuels and heavy-duty vehicles to address diesel engine emissions in Japan. The selection of CDT technologies for license is due to their demonstrated field performance, proprietary patent position, low cost and ease of use. CDT is actively seeking licensees in Europe and Asia to expand penetration of the FBC and ARIS technologies worldwide. About Clean Diesel Technologies Inc. Clean Diesel Technologies is a specialty chemical company with patented products that reduce emissions from diesel engines while simultaneously improving fuel economy and power. Products include Platinum Plus fuel catalysts and the ARIS(TM) 2000 urea injection systems for selective catalytic reduction Selective catalytic reduction (SCR) is a means of removing nitrogen oxides, often the most abundant and polluting component in exhaust gases, through a chemical reaction between the exhaust gases, a (reductant) additive, and a catalyst. of NOx. Platinum Plus is a registered trademark of Clean Diesel Technologies. Certain statements in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements involve known or unknown risks, including those detailed in the company's filings with the 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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