VANCOUVER, BC – Westport Innovations Inc. (TSX:WPT / NASDAQ:WPRT), engineering the world's most advanced natural gas engines and vehicles, announced today that it has completed an engineering program with Daimler AG to develop and assess Westport High Pressure Direct Injection (HPDI) system for a Daimler heavy duty engine. The prototype HPDI engine met all technical targets resulting in a payment of 2.4 million Euro (approximately $2.7 million USD) by Daimler to Westport. For competitive reasons, further terms of the program have not been disclosed.
Westport™ HPDI 2.0 is the only natural gas technology capable of delivering performance and fuel economy equivalent to that of current high performance diesel-fueled engines, but with diesel substitution of over 90%. This combination of high performance and high efficiency is critical for heavy-duty engines in demanding commercial applications. In addition to delivering performance and fuel economy, Westport™ HPDI 2.0 is designed to meet the latest in stringent emission regulations, including Euro VI and EPA 2014.
At Westport Fuel Systems, we are driving innovation to power a cleaner tomorrow. We are a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global automotive industry. Our technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America and South America, 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.
$6.0 Million of Principal Payments Deferred to Improve Liquidity
Westport Fuel Systems today announced it will temporarily suspend production at its facilities in Cherasco and Albinea, Italy.
Strong 2019 Financial Performance
Westport Fuel Systems today announced the decision to temporarily suspend production in its Brescia, Italy facility effective immediately.
Westport Fuel Systems Inc. today announced that it will disclose its financial results for the fourth quarter and year ended December 31, 2019 on Tuesday, March 17, 2020 after market close.