Clean Diesel Technologies, Inc. (NASDAQ:CDTI) has secured various deals that are aimed at boosting its financial performance. The deals include a loan investment worth $1.25 million from Haldor Topsoe and a deal with Honda Motor Co Ltd (ADR) (NYSE:HMC) for the Honda Accord hybrid model.
The financial deal with Haldor Topsoe will see the firm receive $1.25 in convertible loan investment. CDTi will also make CDTi catalyst technologies related agreements with Haldor Topsoe. CDTi also signed a debt conversion deal with a long time lender known as Kanis S.A to convert the $7.5 million debt that it owes the lender into common stock priced at $0.3243 per share.
CDTi’s deal with Honda pertains the production of technology that will be used in the hybrid version of the Honda Accord. The deal is in line with CDTi’s plan to reduce CO2 emissions in the next ten years. The company will deliver vehicle catalysts that will be fitted in the exhaust system of the Honda Accord hybrid. The firm released a statement saying it was pleased to be chosen by Honda to provide a solution for the hybrid vehicle which is one of the most advanced in automobiles in the world. The deal with Honda was also cemented by the fact that the two companies have a good history. CDTi has been manufacturing catalysts for Honda since 2001 including those fitted in the Acura RLX, TSX, and TLS. The firm also supplied catalysts for the Honda Accord models manufactured in 2004, 2008 and 2013.
Matthew Beale, the CEO of CDTi stated that his firm has been speeding up the deployment of high-value business strategies and boosting the capital expenditure so as to foster more growth. Beale also pointed out that the firm is pleased to be in close ties with the industry movers and shakers such as HT. The CEO also stated that the partnerships are a testimony to the company’s success in fostering deals that are geared towards exploiting the company’s capabilities.