published: February 23, 2017
VANCOUVER - Westport AB ("Westport"), a Westport Fuel Systems Inc. ("Westport Fuel Systems") (TSX:WPRT / Nasdaq:WPRT) company today welcomed His Majesty King Carl XVI Gustaf, His Royal Highness Prince Carl Philip, and His Excellency the Right Honourable David Johnston, Governor General of Canada, to its installation facility inside the Volvo Car assembly plant in Gothenburg, Sweden.
"We were honoured to showcase the mutual interests in innovation, technology and sustainability to our Royal guests and the Governor General of Canada," said Anders Johansson, Managing Director, Westport AB.
His Majesty King Carl XVI Gustaf, H.R.H. Prince Carl Philip, His Excellency the Right Honourable David Johnston, Governor General of Canada and additional delegates toured the Westport facility where they met with company representatives to learn about Westport's advanced natural gas technology integrated with the Volvo Car platform — a concrete example of integrated production between Canada and Sweden. Westport and Volvo Car are working together to provide customers with leading natural gas technology, great performance and ultimately a low-emissions profile. The recently launched V90 Bi-Fuel, primarily focused on taxi and fleet customers, demonstrates this ability to provide both a superior driving experience and excellent environmental benefits. This vehicle is based on the same engine technology as the Volvo V60, another model offered with a Bi-Fuel option, developed and brought to market through the collaboration of Westport and Volvo Car.
Royal visitors were also able to see firsthand, components of Westport High Pressure Direct Injection 2.0 ("Westport™ HPDI") technology, a proprietary low carbon solution for the transportation sector with the ability to use renewable natural gas or biomethane. Components of "Westport™ HPDI" technology were brought on location specifically for their visit to highlight the spectrum of solutions available from automotive to heavy duty and high-horsepower applications. Following the tour, a roundtable discussion took place on innovation and environmental sustainability.
"The visit by the King of Sweden and Governor General of Canada is a testament to the value Westport brings to the design, development and production of technology that reduces emissions from Sweden's transport sector," said Per-Inge Kruse, Customer Director, Westport AB.
"With operations in Sweden and core technology roots in Canada, Westport exemplifies strong bilateral relations between the two countries," said Peter Timring, Director, Operations, Westport AB. "This is further strengthened by the partnership and support of our two governments."
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.
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.
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.
Westport Fuel Systems will offer 16,700,000 common shares at a price of US$1.50 per share, for gross proceeds of US$25,050,000.