« Report: EU Must Take Immediate Action on Kyoto Targets; Transport Emissions Represent Largest Increase | Main | Dyadic Enters into R&D Agreement with Abengoa Bioenergy in the Area of Cellulosic Ethanol Production »
Eaton Acquires Catalytica Energy Systems’ Diesel Fuel Processing Technology
27 October 2006
|Catalytica fuel processor + LNT. Click to enlarge.|
Eaton Corporation has acquired the diesel fuel processing technology and associated business assets of Catalytica Energy Systems Inc. for US$2.4 million.
Catalytica’s Xonon diesel fuel processing (XFP) technology (earlier post) converts a portion of diesel fuel to reactive reductants that regenerate and desulfate a NOx trap at low temperatures, resulting in higher NOx conversion and less of a fuel-economy penalty on the system.
An OEM version of the system promised 90% reduction in NOx with approximately a 2%–3% fuel penalty in most engine conditions. A retrofit version delivered more than 50% reductions in earlier testing.
Under the terms of the Asset Purchase Agreement, Eaton will receive the assignment and license of intellectual property relating to that diesel fuel processing system and the transfer of certain assets. Additionally, Eaton will take over Catalytica Energy Systems’ research and development facility in Mountain View, California.
This sale marks Catalytica Energy Systems’ exit from the diesel emissions control business.
Completing this sale further strengthens our balance sheet, reduces significantly our cash consumption, mitigates our technology risk, and positions us to become a stronger, self-sustaining company with our SCR catalyst and management services business serving as a solid foundation for growth. We concluded that the value of our diesel technology could be more successfully harvested by an organization with greater financial resources, integration and commercial experience in the diesel industry. This sale will enable us to redeploy our resources on commercial opportunities yielding greater near-term revenue streams and return on investment.—Rob Zack, president and CEO of Catalytica Energy Systems
TrackBack URL for this entry:
Listed below are links to weblogs that reference Eaton Acquires Catalytica Energy Systems’ Diesel Fuel Processing Technology :