Catalytic Solutions Inc. Announces Deal With Honda Motor Co. Ltd.
OXNARD, Calif.--March 22, 2001--Catalytic Solutions Inc. (CSI) has developed a breakthrough catalytic coating technology that enables auto manufacturers to dramatically reduce usage of precious metals.
Honda has been evaluating the performance and benefits of this technology since 1999. As emission regulations become more challenging worldwide, CSI's products are positioned to help Honda, as well as other auto manufacturers, meet new regulatory demands.
The breakthrough catalyst technology incorporates perovskites and other metal oxides in stable mixed-phase structures. The technology dramatically minimizes the use of precious metals such as platinum, palladium and rhodium, costly and limited resources.
CSI has developed special manufacturing processes to complement the unique performance of these patented materials, and launched mass production for the first Honda vehicle application in December 2000. Honda will work to successively expand the application of the CSI technology to its vehicles on a global basis, including the United States.
Honda and CSI perfected the application of CSI's proprietary technology on the Honda vehicle under agreements that provided for joint development, supply and a 10 percent investment by Honda in CSI. CSI owns the patents and rights to catalyst coatings. CSI has two patents and three patents pending.
Catalytic Solutions was founded in Santa Barbara, Calif., in 1996 by Dr. Steve Golden. Golden conducted his postdoctoral studies at the University of California, Santa Barbara, with emphasis on advanced materials technologies having application in catalysis and high-temperature superconductors.
These unique materials include crystal structures that use their oxygen restoration characteristics to convert and purify oxides of nitrogen, hydrocarbons and carbon monoxide, the harmful compounds in motor vehicle exhaust.
CSI relocated to Oxnard in 1998 from Santa Barbara in order to expand its development activities and launch volume manufacture of its materials and coating operations. Initial production began in 1999 for automobile aftermarket applications.
The Honda production orders represent the beginning of mass production planned for a number of major automotive manufacturers ... a market segment that will dominate CSI's growth during the next 3-5 years.