Emission & Power Solutions to Acquire Extengine Systems

LONDON, March 15 /PRNewswire-FirstCall/ -- Emission & Power Solutions, Plc ("EPS") entered an agreement to acquire Extengine Systems, Inc., a leading California clean tech company in an all-stock transaction valued at approximately $10 million (US).  EPS anticipates shareholder approval and closing of the acquisition in late April 2010.  The combined company will operate as EPS with Extengine's management joining that of EPS.

EPS Chairman Erik Ulsteen stated, "We are creating a strong, global clean tech company built for sustainable growth and success. The combined company will benefit from a formidable research and development pipeline, a significantly broader portfolio of patented products, and an expanded presence in key markets.  The efficiencies we gain will allow us to develop strategic opportunities, while creating meaningful value for shareholders. We are excited about the synergies between products and management teams and a shared commitment to reduce greenhouse gases."

Richard Carlson, President of Extengine stated, "We at Extengine Systems, Inc, (ESI) are excited to be joining with EPS.  We believe the combined company will be well-positioned to take advantage of developing green business opportunities in improving fuel efficiency and reducing emissions through the fuel management and sensor technologies of EPS and the advanced engine emission after-treatment systems of ESI. EPS, as a UK business, has unique exposure and access to the European markets.  ESI, through its close involvement in the US and Asian markets, supports global marketing and sales of EPS products."

About Extengine:

Extengine manufactures and sells state-of-the-art diesel engine exhaust-after-treatment and diesel engine upgrade kits. Extengine is the first and only company that has a California Air Resources Board (CARB) verified SCR-based (Selected Catalytic Reduction) diesel retrofit system that reduces NOx 80-90%. Extengine markets its services and proprietary systems to diesel fleet operators in California and elsewhere that are required or "mandated" to clean up their existing diesel fleets. Additionally, its newest low cost Lean NOx Trap (LNT) system offers the simplest and most economical diesel NOx emission reductions on a cost-per-ton of emissions basis, particularly on the millions of older, in-use heavy/mid-duty stop-and-go city-driven diesel vehicles and off-road pieces of equipment.

For more information about Extengine please visit www.extengine.com.

About EPS:

EPS is a "clean tech" company that licenses, acquires, develops, deploys, and transfers technologies dedicated to improving fuel economy while also reducing environmentally harmful exhaust emissions.  

EPS is a publicly listed company that trades on the Deutsche Borse under symbol EPI.

SOURCE Emission & Power Solutions, Plc

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