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PIRELLI & C. AMBIENTE AND CLEAN DIESEL TECHNOLOGIES, INC. FORM JV TO MARKET AND SELL EMISSION CONTROL PRODUCTS IN EUROPE AND THE CIS COUNTRIES

Ventura (California), Milan (Italy), Feb 20, 2013 – Pirelli & C. Ambiente SpA and Clean Diesel Technologies, Inc. (NASDAQ:CDTI) (CDTi) today announced the signing of an agreement to form a joint venture company to market and sell emissions control products for both gasoline and diesel applications in Europe and the CIS countries. The new joint venture company, Eco Emission Enterprise Srl, will be located in Milan, Italy, and is expected to begin operations in March 2013.

Through the joint venture, CDTi and Pirelli aim to consolidate their leadership in supplying solutions to control polluting emissions for the on-road and off-road heavy and light duty markets, both in the Original Equipment and After Market segments. In addition, the two companies intend to enhance the synergies deriving from the joint venture through eventual joint initiatives. The agreement entails the supply to the joint venture of silicon carbide substrates by Pirelli & C. Eco Technology RO (Romania) and emission control solutions by CDTi. Eco Emission Enterprise Srl, which will have an international management team, will operate as the commercial arm for both partners on the European market.

“We take great pride in forming a strategic joint venture with Pirelli, a globally-renowned multinational company with leading technologies and products,” said Craig Breese, Chief Executive Officer of CDTi. “The formation of the joint venture enhances our combined product portfolios and capabilities and aligns well with both companies’ business development strategy. This agreement expands and enhances CDTi’s presence in Europe and leverages Pirelli’s longstanding OEM relationships and rich history as a global leader in the European market, making them the perfect partner for CDTi.”

“With their high level of technological expertise and long experience in emissions’ control systems, CDTi is an ideal partner with whom to develop commercial initiatives for the distribution of our products. The joint venture is a first step and will allow us to develop important synergies and expand our markets of reference, as well offering our clients an ever more complete range of products with high level technological components,” said Giorgio Bruno, Chief Executive Officer of Pirelli & C. Ambiente.

CDTi is a vertically integrated global manufacturer and distributor of emissions control systems and products, focused on the heavy duty diesel and light duty vehicle markets. CDTi utilizes its proprietary patented Mixed Phase Catalyst (MPC®) technology, as well as its ARIS® selective catalytic reduction, Platinum Plus® fuel-borne catalyst, and other technologies to provide high-value sustainable solutions to reduce emissions, increase energy efficiency and lower the carbon intensity of on- and off-road engine applications. CDTi is headquartered in Ventura, California and currently has operations in the U.S., Canada, U.K., France, Japan and Sweden.

Pirelli & C. Ambiente S.p.A provides solutions for sustainable development in relation to energy production. This includes alternative combustion fuels such as CDR-P, a high quality combustible derived from solid urban waste, as well as photovoltaic and wind installations through its indirect holding in Greentech Energy Systems A/S. Pirelli & C. Eco Technology RO (Romania), develops and produces environmental solutions principally based on silicon carbide. Both companies are 100%-owned units of the Pirelli Group.

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Renewable energy talks at Pirelli

A convention promoted by the Agenzia per l’Italia Digitale and the Silvio Tronchetti Provera Foundation

A 23% improvement in energy efficiency over the next 10 years would determine an increase of over 1.3 billion euros in internal demand, with a contribution of an average rate of about 0.5% in gross national product.

That is what has emerged from the second “Osservatorio per le Energie Rinnovabile ed Efficienza Energetica” (renewable energy and energy efficiency observer) promoted by the Silvio Tronchetti Provera Foundation and the Agenzia per l’Italia Digitale (agency for a digital Italy) in collaboration with the Bocconi University, the Milan Polytechnic and the Milan Bicocca University of Studies. The data is to be presented in Milan on February 12th at our HQ during the “Renewable Energy and Energy Efficiency Convention, Scenarios and Opportunities”.

The event is opened by Marco Tronchetti Provera, president of the Silvio Tronchetti Provera Foundation, followed by Corrado Clini, the Italian government’s Minister of the Environment, Territorial and Sea Protection.

The convention continues with a presentation of the study by its creators, Vittorio Chiesa, ordinary professor of the Milan Polytechnic, Giancarlo Giudici, associate professor of the Milan Polytechnic and Massimo Beccarello, associate professor of the Milan Bicocca University of Studies.

Central to their presentation are the relevant technologies for renewable energies technology (photovoltaics, hydro-electrics) and energy efficiency, which present themselves as a real driving force in the growth of the country. The moderator is Lucio Pinto, director of the STP Foundation.

On conclusion of the convention, a round table discussion on “Energy and Innovation: the Role of the State” with the participation of Luigi Nicolais, president of CNR.

The book “Energie Rinnovabili ed Efficienza Energetica, Scenari e Opportunità” will be available in Italian and English on the sites:

www.aginnovazione.gov.it

www.fondazionetronchetti.it



2 news February, 2013