Clean Diesel Technologies, Inc. (Nasdaq:CDTI) has announced a strategic license agreement with Hilite International, Inc., a supplier of automotive powertrain components headquartered in Cleveland. The company also has design and manufacturing facilities in North America, Europe and Asia.
This agreement is a worldwide, non-exclusive agreement which enables Hilite to license Clean Diesel’s ARIS airless injection technology for selective catalytic reduction control of vehicle oxides of nitrogen emissions in global original equipment manufacturer markets. Hilite chose to incorporate Clean Diesel’s SCR and EGR-SCR technologies into its own portfolio of SCR technologies to enable their customers to optimize fuel efficiency while
minimizing harmful emissions.
Hilite International has also obtained rights to Clean Diesel’s patented combination of the use of exhaust gas recirculation in conjunction with SCR for reducing fuel consumption while meeting stringent emissions standards.
Financial terms were not readily available, but as far as the size of Clean Diesel Tech it generated only $4.925 million in revenues during all of 2007 and its market cap is a mere $105 million.
Jon C. Ogg
June 16, 2008
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