VANCOUVER, BC – Westport Innovations Inc. (TSX:WPT / NASDAQ:WPRT), engineering the world's most advanced natural gas engines and vehicles, today announced the introduction of Westport's new combustion technology in Volvo Car Company's new Drive-E powertrain bi-fuel engine.
Volvo Cars is the first OEM to feature the new Westport system. It will be used on Volvo's new two-litre, direct injection, four-cylinder Drive-E powertrain family, which will be available on the Volvo V60 and V70 2016 models.
Part of the Volvo Engine Architecture family—ranked as one of the best engine families in the world—this engine offers 245 hp and 350 N·m in torque and emissions as low as 40g CO2/km (according to the Swedish Transport Administration's calculation method for BIOGAS), and is expected to be one of the greenest, most powerful natural gas engines in the world.
"This new powertrain consisting of Volvo's new Drive-E petrol engine paired with Westport's gas technology in a highly efficient bi-fuel engine, will offer customers a very competitive combination of high performance and low emissions," said Anders H. Gustavsson, Vice President VLM Special Products, Volvo Car Group.
Westport expects most customers will seek bi-fuel operation today with high performance gasoline direct injection coupled with Westport's new natural gas combustion technology.
"Westport has provided a turnkey solution that includes technology research and development, production, installation and market support," said Anders Johansson, Managing Director, Westport Sweden. "As gasoline engines evolve, it is critical that OEMs offer natural gas versions of these engines that retain the expected performance while providing the environmental and economical benefits of compressed natural gas."
Currently the Volvo Bi-Fuel has been sold only in Sweden, however Westport is open to introducing this model in other EU markets depending on customer demand.
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.
This press release contains forward-looking statements, including statements regarding the qualities and performance of the Volvo engines described herein, desires of customers for bi-fuel operation and the longer term market shift, the demand for our products, the future success of our business and technology strategies, investment in new product and technology development and otherwise, intentions of partners and potential customers, the performance and competitiveness of Westport's products and expansion of product coverage, future market opportunities and timing of future agreements as well as Westport management's response to any of the aforementioned factors. These statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties and are based on both the views of management and 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 uncertainties include risks and assumptions related to our industry and products, the general economy, governmental policies and regulation, technology innovations, the availability and price of natural gas, global government stimulus packages, the acceptance of and shift to natural gas vehicles, the relaxation or waiver of fuel emission standards, the inability of fleets to access capital or government funding to purchase natural gas vehicles, the development of competing technologies, our ability to adequately develop and deploy our technology, the actions and determinations of our joint venture and development partners, 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 these forward looking statements except as required by National Instrument 51-102. The contents of any website, RSS feed or Twitter account referenced in this press release are not incorporated by reference herein.
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