"This is a pivotal time for the clean transportation industry and for Westport Fuel Systems."
I’m pleased to join and to lead Westport Fuel Systems at this pivotal time for our industry and for our company. In my short time on the job, I’ve met with our customers, employees, and key partners in North America, Europe, and Asia. I’m excited about the opportunities we have and am inspired by our ability and plans to address our challenges. I aim to accelerate our transformation into a profitable, sustainable organization.
We provide our original equipment manufacturers ("OEM") partners, customers, and fleets with market-ready solutions that enable both emissions reductions and operating cost savings. Our broad portfolio of components, fuel systems, electronics, cryogenics, and technology solutions are sold in 70 countries through an extensive global distribution network. Cost-competitive solutions to decarbonize the transportation sector and improve air quality and public health outcomes in our cities are commercially available now.
A number of fundamental market trends are driving our business:
Globally, California and Europe continue to lead the way but both China and India are accelerating their efforts. Europe for example, has proposed aggressive CO2 emissions reduction standards for commercial vehicles. The phrase “game changer” is often overused but given the magnitude of the emissions reductions required and the financial implications of these regulations, we believe it’s applicable here. Westport HPDI 2.0TM provides a CO2 emission reduction benefit of approximately 20% and is commercially available, cost competitive, and on the road across Europe today.
I would like to highlight a few of our significant business accomplishments in 2018. We have made substantial progress in improving our operating results and have achieved several key milestones along the way.
I would like to take the opportunity to thank Nancy Gougarty for her years of tireless dedication to the mission and vision of Westport Fuel Systems. Her leadership and commitment have cemented our market-leading position and I am honoured to take the helm of the organization at this exciting time.
On behalf of the management team and Westport Fuel Systems employees around the world, thank you for your continued support.
Chief Executive Officer
Net income from continuing operations of $4.9 million and Adjusted EBITDA of $9.4 million due to revenue growth and operating cost reductions
Westport Fuel Systems Inc. announced today that it will disclose its financial results for the third quarter ended September 30, 2019 on Thursday, November 7, 2019 after market close.
Westport Fuel Systems today announced that it has reached a settlement fully resolving the SEC’s investigation.
Westport Fuel Systems today announced they have been invited to present at the 8th Annual Gateway Conference, which is being held September 4-5, 2019 at the Four Seasons Hotel in San Francisco, California
Westport Fuel Systems Appoints Richard Orazietti as Chief Financial Officer