Clean Diesel Technologies Raises $1.8 Million -GBP 1.025 Million-
STAMFORD, Conn.--Sept. 20, 2004--Clean Diesel Technologies Inc. (CDT) (OTCBB:CDTI) (AIM:CDT) (AIM:CDTS) announced that it has signed a commitment letter with an existing U.K. shareholder for the issuance of $1.8 million (GBP 1.025 million) of CDT's common stock at a price of GBP 1.025 (USD $1.82) per share. CDT expects the private placement to be completed by Sept. 28, 2004.The proceeds of the fund-raising will be used to continue the acceleration of the company's technology commercialization in the United States, Europe and Asia. The company has recently begun announcing and shipping significant orders for its EPA-verified Platinum Plus(R) Purifier System including a state of Pennsylvania grant and the supply of systems to Maine and Stamford school bus projects. The company also recently announced its second EPA verification for the Platinum Plus fuel borne catalyst additive with a particulate filter designed by Mitsui/PUREarth.
About Clean Diesel Technologies Inc.
Clean Diesel Technologies Inc. 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(R) fuel catalysts, the Platinum Plus Purifier System, and the ARIS(R) 2000 urea injection systems for selective catalytic reduction of NOx. Platinum Plus and ARIS are registered trademarks of Clean Diesel Technologies Inc. For more information, visit CDT at www.cdti.com or contact the company directly.