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Westport Innovations Inc.

Address 101 – 1750 West 75th Avenue, Vancouver, BC, V6P 6G2, CA
Phone 604-718-2000
Website westport.com
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​Westport Fuel Systems Commends New Study Outlining Pump-to-Wheels Methane Emissions from the Natural Gas-Fueled Heavy-Duty Transportation Sector

Westport Fuel Systems Inc. has commended the publication of a new study by West Virginia University scientists at the Center for Alternative Fuels, Engines and Emissions ("CAFEE") quantifying methane emissions from heavy-duty natural gas-powered vehicles and refueling stations. CAFEE scientists collaborated on the study with the Environmental Defense Fund ("EDF") and a group of global natural gas industry leaders including the American Gas Association, Chart Industries, Clean Energy, Cummins, Cummins Westport, International Council on Clean Transportation, PepsiCo, Shell, Volvo Group, Waste Management, and Westport Fuel Systems. The study was published online by the journal Environmental Science & Technology and the results greatly expand on the very limited data on methane emissions from natural gas vehicles.

Westport signs investment agreement with Cartesian Capital Group for up to $71.3 million in financing

Westport Innovations Inc., engineering the world's most advanced natural gas engines and vehicles, has announced that it has entered into an agreement with Cartesian Capital Group, of New York, for up to $71.3 million in financing to support global growth initiatives. The financing agreement immediately provides $17.5 million in non-dilutive capital with up to $53.8 million in additional capital contingent on reaching key milestones and establishing new investment opportunities. This financing package includes a contingent payment (derived substantially from future High Pressure Direct Injection (HPDI) product sales), a convertible debenture, non-core asset sales, and incremental funding capacity to support future product development. As part of the financing agreement, Peter Yu, Managing Partner and Founder of Cartesian, will be appointed to Westport's Board of Directors.

AVL and Westport sign agreement to deliver next-generation HPDI technology

Westport Innovations Inc., and AVL List GmbH., the world's leading independent company for development, simulation and testing technology of powertrains for global original equipment manufacturers (OEMs), have announced that they have entered into an agreement to deliver next-generation High Pressure Direct Injection (HPDI) gas technology.

Westport and Gas Technology Institute awarded $900,000 to advance natural gas combustion technology

Westport Innovations Inc. has announced that, together with the Gas Technology Institute (GTI), it has been awarded US$900,000 towards a program to advance state-of-the-art natural gas combustion technology. The work will feature Westport's enhanced spark ignited (ESI) natural gas engine technology and demonstrate "High Frequency Corona Discharge Ignition" on an original equipment manufacturer (OEM) partner's engine. The engine has a displacement of between 1 and 1.5 liters per cylinder and is targeted at medium duty commercial vehicle applications.

Westport and Fuel Systems Solutions Announce Intention to Merge

Westport Innovations Inc., and Fuel Systems Solutions, Inc., recently announced that the companies have entered into a merger agreement to create a premier alternative fuel vehicle and engine company. The transaction will result in a combined equity value of $351 million based on the closing trading prices for the shares of both companies on August 31, 2015 and combined annual revenues ranging from $380 to $405 million projected for 2015. The combined company will benefit from complementary product solutions, and a fortified global footprint, with efficient operations and a core focus in developing next generation technology. The merger combines 17 brands in the automotive and industrial space and will allow customers and stakeholders to benefit from the consolidation of technologies, and the expansion of product portfolios, OEM relationships, and global distribution networks. The new entity will conduct business in more than 70 countries, represent a combined 100 years of experience and will trade on both the TSX and Nasdaq under the Westport Fuel Systems name, ticker symbol Nasdaq: WPRT and TSX: WPT, with a new business unit called Fuel Systems Automotive and Industrial Group. The companies' respective boards of directors have unanimously approved this transaction.