Catalytic Solutions Inc. Closes $29.6 Million Series `C' Financing; Privately Held Producer of Innovative Catalyst Coatings Raises Funds to Support Growth

    OXNARD, Calif.--Jan. 10, 2002--Catalytic Solutions Inc. (CSI) announced today it has closed on a $29.6 million Series 'C' funding round led by Cinergy Ventures, with additional participation by GE Capital, Honda Motor Company, Ltd., Cycad Group LLC, NextGen Enabling Technologies Fund, L.P. and various other investors.
    The Series 'C' financing was managed by JPMorgan H&Q and brings the total investment in Catalytic Solutions to $39.6 million since the company's founding in January 1996. Catalytic Solutions will use the latest funds to support the company's product development and manufacturing growth. "In light of today's funding environment, such a successful round sends a very positive statement about Catalytic Solutions' advanced technology, proven manufacturing capabilities and market opportunities," said Bill Anderson, CEO, Catalytic Solutions Inc. "The investments and involvement by Cinergy Ventures and GE Capital represent potential strategic expansion opportunities for CSI. Both of these companies are interested in exploring applications of CSI's unique technology and capabilities in energy-sector applications."
    Kevin Kushman, the Managing Director of Cinergy Ventures stated, "We are very enthusiastic to be supporting CSI at this important stage of the company's commercial development. The energy industry, especially those players economically tied to large, fossil fuel-based generation, face increasing challenges for emissions compliance. We believe the catalysis technology that CSI has developed to gain success in the transportation industry could have a positive near-term impact for power generators." Ab Igram, Vice President of GE Equity added, "Catalytic Solutions is a well-managed company with promising technologies and applications for the energy industry."
    Catalytic Solutions has developed a breakthrough catalytic coating technology, Mixed Phase Catalyst (MPC(TM)), which enables dramatic reductions in the use of precious metals such as platinum, palladium and rhodium. As emission regulations become more challenging worldwide, Catalytic Solutions' products are well positioned to help meet new regulatory demands, while also reducing costs by utilizing 50-80% less precious metals than conventional catalytic coating technology. Catalytic Solutions has also developed special manufacturing processes to complement the unique performance of these patented coating materials. Mass production for the first original equipment manufacturer application was launched on a Honda vehicle in December 2000.
    Catalytic Solutions is a privately funded company with corporate headquarters in Oxnard, California and offices in Michigan, United Kingdom and Japan. For more information about Catalytic Solutions visit www.catsolns.com, send e-mail to info@catsolns.com or phone 805-486-4649.