Exhibit
99.1
Logo
Omitted
Clean
Diesel Technologies Announces Appointment of
Michael
L. Asmussen as President, CEO and Director
Bridgeport, CT – February 11, 2009 –
Clean Diesel Technologies, Inc. (NASDAQ:CDTI; XETRA:CDIA; AIM:CDT), the
cleantech emissions reduction company, today announced the appointment of
Michael L. Asmussen, 38, as President, Chief Executive Officer and Director in
place of Dr. Bernhard Steiner who has resigned from the Company.
Dr.
Steiner has given valuable service to the Company, especially in the development
of our International markets. As the company continues its evolution towards
focused execution and growth with critical focus on the Americas, Michael’s
background and prior experience positions him well to lead the company into this
next phase of commercialization.
Prior to
joining Clean Diesel Technologies in September 2008, from 1996 to 2007, Mr.
Asmussen held a variety of positions at Eaton Corporation, a diversified power
management company with 2007 sales of $13 billion. Between 2005 and 2007, Mr.
Asmussen managed the Mirror Controls Division sales and marketing team where his
primary focus was driving global growth strategies, and during this time he
helped significantly increase sales. In 2007, he led the divestiture of the
Mirror Controls Division and became Vice President of Sales and Marketing for
Mirror Controls International, the world’s largest automotive mirror actuator
manufacturer. In addition to assisting in the establishment of new
organizational structures, his broad scope of responsibilities included P&L
accountability, strategic market planning, and leadership of the global sales
and marketing organization. From 2002 to 2005, Mr. Asmussen was Strategy Manager
for the Specialty Controls Division of Eaton Automotive, a global leader in
critical automotive components to reduce emissions and fuel consumption, and
improve vehicle stability and performance. From 2000 to 2002, he served as
Customer Manager for all North American sales initiatives with Ford Motor
Company. Mr. Asmussen holds M.B.A. and Bachelor of Science degrees from Michigan
State University.
Derek
Gray, Chairman of Clean Diesel Technologies, stated, “We are very pleased to
make this appointment as Michael’s solid industry experience in sales and
marketing complements our overall business strategy. Michael brings very strong
relationships with a number of key original equipment manufacturers and tier-one
and tier-two suppliers, which will be instrumental as we aggressively pursue our
licensing strategy. Under his leadership, Michael helped to significantly
increase sales at the Mirror Controls Division at Eaton, while maintaining a
sharp focus on managing resources and improving operational efficiency. As we
turn our attention to operational execution and growing the demand for our
technologies in the Americas, we are confident that Michael’s diverse experience
and organizational leadership skills make him well suited to lead our
efforts.”
About
Clean Diesel Technologies
Clean
Diesel Technologies (NASDAQ: CDTI) is a cleantech company providing sustainable
solutions to reduce emissions, increase energy efficiency and lower the carbon
intensity of on- and off-road engine applications. Clean Diesel’s patented
technologies and products allow manufacturers and operators to comply with
increasingly strict regulatory emissions and air quality standards, while also
improving fuel economy and power. The Company’s solutions, which are in
commercial use worldwide, significantly reduce emissions formed by the
combustion of fossil fuels and biofuels, including particulate matter (PM),
nitrogen oxides (NOx), carbon monoxide and hydrocarbons. Clean Diesel solutions
also reduce carbon dioxide (CO2)
emissions, a key greenhouse gas associated with global climate
change.
Clean
Diesel develops and manages intellectual property from original concept to
full-scale commercial deployment. Its offerings include ARIS®
Selective Catalytic Reduction (SCR); the patented combination of SCR and Exhaust
Gas Recirculation; hydrocarbon injection for emissions control applications;
Platinum Plus® Fuel-Borne Catalyst (FBC); the Purifier™ family of particulate
filter systems; and its Wire Mesh Filter particulate filter technologies. The
Company was founded in 1995 and is headquartered in Stamford, Connecticut. A
wholly owned subsidiary, Clean Diesel International, LLC, is based in London,
England. For more information, please visit www.cdti.com.
Certain
statements in this news release constitute “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known or unknown risks, including those
detailed in the Company’s filings with the U.S. 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.
Please
visit us on the World Wide Web at: www.cdti.com
Contacts:
Clean
Diesel Technologies, Inc.
Ann
Ruple
CFO
+1 203
416 5290
aruple@cdti.com
Charles Stanley
Securities
Nominated
Adviser
Philip Davies
/ Freddy Crossley
Tel: +44
20 7149 6457
#
# #
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
|
Clean
Diesel Technologies, Inc.
|
|
|
|
|
|
|
|
|
By:
|
/S/
Ann B. Ruple
|
|
|
|
|
Ann
B. Ruple
|
|
|
|
|
|
|
|
|
|
Its:
Vice President and Chief Financial Officer
|
|
|
|
(Principal
Financial and Accounting
Officer)
|
Dated: February
11, 2009