published: October 14, 2008
Vancouver, BC and Denton, TX – Peterbilt Motors Company announced today that the company will offer three new liquefied natural gas (LNG) configurations on its Models 387, 386 and 367 in 2009. The factory-installed LNG system is part of a joint agreement between Peterbilt and Westport Innovations Inc. (TSX:WPT/Nasdaq:WPRT) to provide natural gas versions of select Peterbilt aerodynamic and vocational vehicles.
“LNG is emerging as an alternative clean, high-performance fuel for trucks that is domestically available and economical. Peterbilt is committed to delivering products that reduce harmful emissions and realistically provide the performance and economics that our customers need,” said Bill Jackson, Peterbilt General Manager and PACCAR Vice President.
Michael Gallagher, President and Chief Operating Officer of Westport, added “Peterbilt is a strong commercial production partner and brings a high level of expertise and production capacity to meet the increasing interest for LNG trucks. Peterbilt trucks were part of our first road trials, in a field test with Norcal Waste in San Francisco in 2001.”
More recently, Peterbilt and Westport have collaborated on a project to build Model 386 LNG evaluation trucks for Wal-Mart under a funding program with Mojave Air Quality Management District.
The LNG Models 387, 386 and 367 complement Peterbilt’s existing Model 320 CNG vehicles. To date, over 50 Model 320 CNG Trucks are in operation throughout the U.S.
Westport's ISX G engine and liquefied natural gas (LNG) fuel system for heavy-duty class 8 trucks allows trucking fleets to move to lower-cost, domestically available natural gas and/or biogas while offering industry-leading emissions, including lower greenhouse gas emissions, than comparable diesel engines. Based on the industry-leading Cummins ISX diesel engine with cooled EGR, the LNG version of the engine offers the same horsepower, torque, and efficiency as the base diesel engine it is replacing. The Westport LNG fuel system comprises LNG fuel tanks, proprietary Westport fuel injectors, cryogenic fuel pumps and associated electronic components to facilitate robust performance and reliable operation. The Westport LNG system is 2007 EPA and CARB certified to 0.8g/bhp-hr NOx and 0.01g/bhp-hr PM.
The Westport ISX G engine is fuelled with LNG—a safe, cost effective, low carbon, and low emissions fuel—and is available with 400 and 450 horsepower ratings and up to 1,750 lb-ft torque for heavy-duty port, freight and vocational applications. LNG fuel tanks can be configured to suit customer range requirements. LNG heavy-duty trucks are eligible for federal tax credits in the United States and may be eligible for other state-specific emissions credits.
Westport, a division of Westport Fuel Systems Inc., engineers the world’s most advanced natural gas engines and vehicles. We work with original equipment manufacturers worldwide from design through to production, creating products to meet the growing demand for vehicle technology that will reduce both emissions and fuel costs. To learn more about our business, visit www.westport.com, subscribe to our RSS feed, or follow us on Twitter @WestportDotCom.
Based in Denton, Texas, Peterbilt Motors Company combines a global reputation for industry leading design, innovative engineering and fuel efficiency solutions, with superior quality to engineer a truck that stands as the "Class" of the industry. Through its 247-plus North American dealer locations, Peterbilt also provides a comprehensive array of TruckCare® programs to support its full lineup of vehicles, including hybrids, with aftermarket support programs. Customers enjoy industry leading service and support, including preventive maintenance plans, expedited QuickCare services, automated parts inventory replenishment and 24/7 complimentary Customer Assistance through 1-800-4-Peterbilt. For more information about Peterbilt, visit www.peterbilt.com.
This document contains forward-looking statements, including statements regarding the demand for our products, the future success of our business and technology strategies, investment, cash and capital requirements, intentions of partners and potential customers, the performance and competitiveness of our products and expansion of product coverage, future market opportunities, speed of adoption of natural gas for transportation, growth in demand as a result of new emission standards and terms of future agreements. These statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties and are based on assumptions that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activities, performance or achievements expressed in or implied by these forward looking statements. These risks and assumptions include risks and assumptions related to our revenue growth, operating results, industry and products, the general economy, conditions of and access to the capital and debt markets, governmental policies and regulation, technology innovations, fluctuations in foreign exchange rates, global government stimulus packages, the acceptance of natural gas vehicles in fleet markets, the relaxation or waiver of fuel emission standards, the inability of fleets to access capital or government funding to purchase natural gas vehicles, the sufficiency of bio methane for use in our vehicles, the development of competing technologies as well as other risk factors and assumptions that may affect our actual results, performance or achievements or financial position discussed in our most recent Annual Information Form and other filings with securities regulators. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they were made. We disclaim any obligation to publicly update or revise such statements to reflect any change in our expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward looking statements except as required by National Instrument 51-102.
Early Termination of Debenture Tender Offer and Cancellation of Meeting of Debentureholders
Enhanced Liquidity and Continued Execution on Stated Goals
To coincide with the disclosure, Westport Fuel Systems has also scheduled a conference call on Monday, August 14, 2017 at 2:00 pm Pacific Time (5:00 pm Eastern Time).
Westport Fuel Systems Inc. announced today the exercise of the underwriters' option from its previously announced offering to purchase an additional 2,425,000 common shares at the Offering price of US$1.50 per share. With the exercise of the option, Westport issued a total of 19,125,000 common shares under the offering for gross proceeds of US$28,687,500.
Westport Fuel Systems Inc. announced today the closing of its previously announced offering of 16,700,000 common shares at a price of US$1.50 per share, for gross proceeds of US$25,050,000.