News Tagged with "Agreements"

August 4, 2020
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Westport Fuel Systems Announces Supply Contract with NAFTAL

MTM to Supply LPG Systems to the Growing Algerian Market

Westport Fuel Systems Inc. today announced a new contract between MTM and NAFTAL (Algerian State Owned Agency for Distribution and Sale of Oil and Gas) to supply 30,000 liquified petroleum gas systems into the growing Algerian market.

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May 26, 2020
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Westport Fuel Systems Awarded GASTEC Tender

BRC to Supply Systems to the Growing Egyptian Market

Westport Fuel Systems Inc. have been awarded a competitive tender bid by the Egyptian International Gas Technology Company to supply 6,300 compressed natural gas sequential injection fuel systems into the growing Egyptian market in 2020.

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August 28, 2018
HPDI 2.0agreements

Westport Fuel Systems and Weichai Westport to Commercialize HPDI 2.0 Technology for China

Westport Fuel Systems Inc.announced today that it has entered into definitive development and supply agreements with Weichai Westport Inc. to develop, market, and commercialize a heavy-duty, natural gas engine featuring the Westport HPDI 2.0™ technology, based on one of Weichai Power Co., Ltd.’s heavy-duty engine platforms.

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July 25, 2018
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Westport Fuel Systems Completes Sale of CNG Compressor Business for 12.3 Million Euro

Westport Fuel Systems Inc. today announced that it has completed the sale of its compressed natural gas compressor business to Snam S.p.A., a leading European gas utility company, for total proceeds of 12.3 million Euro, net of a 500,000 Euro holdback to be released upon fulfillment of an independent audit process to be completed within 30 business days.

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December 22, 2017
HPDI 2.0agreements

Westport Fuel Systems Signs MOU with Weichai Power

Next Step in the Commercialization of Westport™ HPDI for Heavy Duty Trucks in China

Westport Fuel Systems Inc. announced today that it has signed a non-binding Memorandum of Understanding (“MOU”) with Weichai Power Co., Ltd. at a signing ceremony hosted by Mr. Tan Xuguang, Chairman and Chief Executive Officer of Weichai Holding Group Co., Ltd. in Jinan, Shandong Province, China. This MOU sets the framework for finalizing the development, marketing, and commercialization of the Westport high pressure direct injection technology in China.

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September 27, 2016
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Westport Fuel Systems Announces Supply Agreement with Honda Turkey

BRC LPG systems to be fully integrated into the new Honda Civic ECO

Westport Fuel Systems today announced the signing of a new multi-year agreement between a distributor of Westport Fuel Systems and Honda Turkey to supply liquefied petroleum gas (“LPG”) systems for the new Civic ECO model that will be launched in October 2016.

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May 2, 2016
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Fuel Systems Stockholder Meeting Scheduled For Tuesday, May 31

Fuel Systems’ Board of Directors recommends Fuel Systems stockholders vote “FOR” the Merger with Westport, Compelling merger edging closer to completion

Fuel Systems’ Board of Directors recommends Fuel Systems stockholders vote “FOR” the Merger with Westport; Compelling merger edging closer to completion.

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April 20, 2016
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Westport Closes Second Tranche of Cartesian Investment

Cartesian Capital Group purchases Westport Hong Kong economic interest citing long-term view of natural gas vehicle market in China

Westport has sold a derivative economic interest in its Hong Kong holding company, Westport Hong Kong Ltd. to Cartesian Capital Group for an upfront payment of US$6.3 million plus a potential future payment based on Cartesian's return on investment.

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March 18, 2016
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Westport Shareholders Vote For Merger with Fuel Systems at Shareholder Meeting

Merger plus all other resolutions pass with overwhelming shareholder support

At the meeting, shareholders approved the issuance of such number of Westport common shares as required according to the Agreement and Plan of Merger dated September 1, 2015 (as amended) to complete the Merger, with 98% of votes cast voted in favour of the resolution, 94% of votes cast voted in favour of the amendment to Westport’s Omnibus Incentive Plan, and 98% of votes cast voted in favour of amending the articles of incorporation of Westport to change its name from Westport Innovations Inc. to Westport Fuel Systems Inc.

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March 17, 2016
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Westport Appoints New Director to Board

Rodney Nunn to join Westport’s Board of Directors

Westport announces that Rodney (Rod) Nunn, President and CEO of KSR International Co.—a leading Tier One automotive supplier—has been appointed to Westport's Board of Directors as part of a nomination agreement between Westport and certain entities affiliated with Westport’s largest shareholder, Kevin Douglas (“the Douglas Group”).

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News Releases

August 6

Westport Fuel Systems Reports Second Quarter 2020 Financial Results

Westport Fuel Systems Inc. reported financial results for the second quarter ended June 30, 2020 and provided an update on operations.

August 4

Westport Fuel Systems Announces Supply Contract with NAFTAL

MTM to Supply LPG Systems to the Growing Algerian Market

July 24

Westport Fuel Systems Secures €15 Million Loan from UniCredit

Transaction to Bolster the Liquidity of MTM in Cherasco, Italy

July 24

Westport Fuel Systems Announces Refinancing of Convertible Notes with Cartesian Capital Group

Westport Fuel Systems today announced that it has has entered into an agreement for the refinancing of its convertible notes held by funds associated with Pangaea Two Management, LP and Cartesian Capital Group.

July 23

Westport Fuel Systems Secures US$10 Million Credit Facility from Export Development Canada

Westport Fuel Systems today announced that they have closed a US$10 million term credit facility from Export Development Canada to bolster liquidity during the COVID-19 pandemic.

Industry News

Published: March 26

Coronavirus Economic Fallout May Boost NGVs as Alternative Transportation

Natural gas vehicles (NGV) may get a boost as power markets and renewable equipment production are seen as potential casualties.

Published: March 16

Europe Increasingly Turns to CNG, LNG

The statistics not only show continuously growing sales of CNG and especially liquefied natural gas fueled vehicles, but also the growth of corresponding fueling infrastructure.

Published: March 12

Finnish heavy-duty transport expert Simeon: ”Gas is energy of the future”

Simeon’s gas-powered Volvo is used to transport gas for partners. Stenberg is pleased with the new tractor unit.

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