published: April 12, 2017
VANCOUVER, BC – Prins Autogassystemen ("Prins") and BRC Gas Equipment ("BRC"), both Westport Fuel Systems Inc. ("Westport Fuel Systems") (TSX:WPRT / Nasdaq:WPRT) companies were awarded with the Inpro Innovation award at the International GasShow in Warsaw, Poland for their respective VSI Dual Injection technology and 'EMV' electronic LPG tank multivalve.
The International GasShow is considered the World’s largest trade fair and industry meeting for the liquid petroleum gas ("LPG"), compressed natural gas (CNG), and liquid natural gas (LNG) sector and the distinguished InPro awards aim to identify the best devices, products and solutions amongst exhibitors.
Prins, which won the award for their Dual Injection technology, provides an innovative and high quality bi-fuel LPG solution for car engines with both multipoint and direct injection, allowing drivers to benefit from lower fuel costs and lower CO2 and particle emissions without compromising drivability and performance. Latest car models such as the 2017 Ford F-150 3.5L V6 EcoBoost® engine and cars with the Euro 6 - 1.8/2.0 TFSI engine are eligible to benefit from this technology.
"We are pleased that our innovative Dual Injection technology has won this award" said Bart van Aerle, Vice President, Prins. "Our Dual Injection technology is recognition of all our R&D efforts which have resulted in a reliable and high quality system with considerable emissions benefits and cost reductions."
BRC was awarded for its new Electronic Multi Valve ("EMV"), a totally innovative electronic LPG tank multivalve that, besides the standard functions required by the current regulations R67-01, integrates an advanced multifunctional sensor which replaces the standard mechanical level and 80% filling stop devices.
"Recognition of our new EMV supports our innovative capabilities in electronic applications for traditional mechanical devices" said, Marco Seimandi Sales Director of BRC. "This system allows higher accuracy of the measured level desired by customers to comply with OEM requirements to enhance integration with the vehicle on-board systems as the 'Trip computer'. Furthermore, the diagnostic functionalities of the system can guarantee, for the new EMV, a higher level of safety. These features are already attracting the interest of different potential OEM partners."
For more information on Prins visit; http://www.prinsautogas.com/en/
For more information on BRC Gas Equipment: http://www.brc.it/en/
More information on GasShow: http://gasshow.pl/en/
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.
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.