published: September 28, 2011
VANCOUVER, BC – Westport Innovations Inc. (TSX:WPT/NASDAQ:WPRT), the global leader in natural gas engines announced today that the new natural gas Westport WiNG™ Power System (WiNG™) will be available in the popular Ford F-250 and F-350 Super Duty pickup trucks sold and serviced through authorized Ford dealers. The F-250 and F-350 pickup trucks, based on Ford’s new 6.2L hardened engine platform, can also run on ordinary gasoline and offer unparalleled drivability. As part of the product launch with Ford Super Duty Pickup Trucks, Westport LD has unveiled the new WiNG™ system, an advanced, integrated, bi-fuel system for passenger and commercial vehicles targeting fleet customers.
“We’re seeing strong customer interest across the spectrum from fleets of all shapes and sizes for a factory-validated product, as more and more owners understand the economic and operational benefits of a cleaner fuel that’s sourced right here in North America,” said Ian Scott, President of Westport LD.
“The WiNG™ system is specifically designed to deliver best-in-class performance, reliability and efficiency,” noted John Lapetz, Managing Director, North American Vehicle Programs at Westport LD. “Our customers will benefit from the best natural gas technology in the industry along with the confidence and quality of the Ford name and the strength of their dealer network.”
The Ford F-250 and F-350 pickups with the bi-fuel Westport WiNG™ Power System have undergone the same rigorous Original Equipment Manufacturer (OEM) testing for safety and durability required for all OEM products. Engineered at the new Westport technical facility in Plymouth Michigan, WiNG™ systems will be installed and the trucks will be ready to roll when they reach authorized Ford dealers. They are designed to meet both EPA 2012 and CARB 2012 standards.
Westport will demonstrate the WiNG™-powered F-250 through a “ride and drive” at the Green Fleets conference in Grapevine, Texas on October 3rd and 4th and at the Natural Gas Vehicle Association (NGVA) conference in Fort Worth, Texas on October 20th to 23rd. The F-250 and F-350 pickup trucks are expected to ship in the second quarter of 2012.
The F-Series has been America’s bestselling truck line for more than 30 years. The economics and performance of natural gas powered trucks provide an ideal application for utility companies, delivery, and energy-industry fleets, as well as government and transit operators.
For more information on the natural gas Ford pickup trucks and the Westport WiNG™ Power System, go to www.westport-ld.com.
At Westport Fuel Systems, we are driving innovation to power a cleaner tomorrow. We are inventors, engineers, manufacturers and suppliers of advanced clean-burning fuel systems and components that can change the way the world moves. Our technology delivers performance, fuel efficiency and environmental benefits to address the challenges of global climate change and urban air quality. Headquartered in Vancouver, Canada, we serve our customers in more than 70 countries with leading global transportation brands. At Westport Fuel Systems, we think ahead. For more information, visit www.wfsinc.com.
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.
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.