FOR IMMEDIATE RELEASE
Clean Diesel Technologies, Inc. Completes Sale of $3 Million Convertible Notes
Ventura, CA May 9, 2011 Clean Diesel Technologies, Inc. (NASDAQ:CDTI) (Clean Diesel or the Company), a
cleantech emissions reduction company, announced today the completion of the sale of $3 million aggregate principal
amount of its 8.0% subordinated convertible notes due in 2016 (the Notes) to an investor pursuant to the April 11,
2011 commitment letter.
As previously announced, the Notes were issued at 100% of face amount and are convertible at the option of the holder
into shares of the Companys common stock at a fixed conversion price of $7.044 per share (120% of the consolidated
closing bid price on April 8, 2011), subject to specified notice requirements and a limitation on the number of shares
into which the Notes convert equal to 369,853 shares of common stock. The Notes have a stated maturity of five years,
although the holder has the right to require the Company to redeem the Notes at any time after November 11, 2012 at a
price equal to 100% of the face amount plus accrued and unpaid interest through the date of redemption. The Company has
the option to redeem the Notes at any time at a price equal to 100% of the face amount plus accrued and unpaid interest
through the date of redemption. Net proceeds from the sale of the Notes will be used for general working capital
purposes. The Notes are unsecured obligations of the Company and subordinated to existing and future secured
indebtedness of the Company. The offer and sale of the Notes were made in reliance upon Regulation S under the
Securities Act of 1933.
This press release is neither an offer to sell nor the solicitation of an offer to buy the Notes or any other
securities of the Company. The Notes and the underlying common stock issuable upon conversion have not been registered
under the Securities Act or any applicable state securities laws and may not be offered or sold in the United States or
to U.S. persons without registration or pursuant to an applicable exemption from the registration requirements.
About Clean Diesel Technologies, Inc.
Clean Diesel Technologies, Inc. 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. Clean Diesel 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. Clean
Diesel is headquartered in Ventura, California, along with its wholly-owned subsidiary, Catalytic Solutions, Inc., and
currently has operations in the U.S., Canada, U.K., France, Japan and Sweden as well as an Asian joint venture. For
more information, please visit www.cdti.com and www.catsolns.com.
Kristi Cushing, Investor Relations Manager
Tel: +1 (805) 639-9458
Clean Diesel Technologies, Inc. * 4567 Telephone Road, Suite 206 * Ventura CA 93003 * 805-639-9458