The oxygen storage and release capacity is the ability of CeO2-based materials to release and store oxygen according to the reaction:

As you can see from the Figure, which shows the evolution of the control of the Air-to-fuel  ratio (A/F)  with time, tighter the control of the A/F, better the conversion of the exhausts. In fact,  three-way catalysts show the highest conversion efficiency only at a stoichiometric A/F ratio (A/F = 14.6). The yellow window represents the required conversion efficiency for modern autocatalysts.

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