Westport Signs Third Global Heavy-Duty OEM Collaboration Agreement to Demonstrate H2 HPDI™ Fuel System on IC Engine Platform
March 06 2023 - 06:00AM
GlobeNewswire Inc.
Westport Fuel Systems Inc. (“Westport” or the “Company”) (TSX:
WPRT / Nasdaq:
WPRT), a global
leader in low-emissions alternative fuel transportation
technologies, today announced its collaboration with a global
original equipment manufacturer (OEM) to evaluate the performance,
efficiency and emissions of the OEM’s engine equipped with
Westport’s H2 HPDI fuel system. This collaboration marks Westport’s
third major OEM engagement evaluating its H2 HPDI fuel system to
date. Funded by the OEM, the work starts immediately and continues
through year end.
“Vehicle makers around the world are recognizing
that there are many possible paths to reaching the important goal
of significantly reducing or eliminating emissions,” said David M.
Johnson, chief executive officer of Westport Fuel Systems.
“Demonstrating our H2 HPDI fuel system is the first step on the
path to commercialization and supports the growing view that a ‘one
size fits all’ approach to emissions reduction does not exist.
Maintaining existing diesel engine architectures and related
manufacturing infrastructure is critical to enabling OEMs to offer
timely, efficient, cost-effective peak performance in transport
applications.”
Hydrogen use in an internal combustion engine
with Westport’s H2 HPDI fuel system offers a cost-effective
solution that delivers substantial CO2 reductions while allowing
OEMs to preserve their existing engine architecture, leverage
existing engineering talent and experience, installed investments,
and decades of technology development in vehicle powertrain design,
supply chain, and manufacturing.
Westport’s production HPDI system fueled with
LNG and bioLNG is a mature and proven commercialized platform,
providing a solid foundation to develop the hydrogen-fueled version
of the HPDI system. This collaboration is designed to demonstrate
that Westport’s H2 HPDI fuel system is a cost-effective solution
that delivers dramatic CO2 abatement while achieving power, torque,
and efficiency that exceeds the performance of a diesel engine.
About Westport Fuel Systems
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 transportation 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.
Forward-Looking Information
This press release contains "forward-looking information" within
the meaning of applicable securities laws ("forward looking
statements"). Forward looking statements are frequently
characterized by words such as "expect", "intend", "may", "will",
"potential", "proposed" and other similar words, or statements that
certain events or conditions "may" or "will" occur. Forward-looking
statements made in this press release include statements regarding
the timing and completion of the development work on the referenced
hydrogen fueled engine equipped with Westport's H2 HPDI fuel system
and the performance, characteristics, and cost effectiveness of
such engine. These forward-looking 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 Westport's 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, uncertainties and assumptions include
those related to the success and completion of the engine
development program, the pricing and availability of hydrogen as a
transportation fuel, our ability to address technological
challenges, the general economy, solvency, governmental policies
and regulation, fluctuations in foreign exchange rates, as well as
other risk factors and assumptions that may affect our actual
results, performance or achievements or financial position that are
described in Westport's continuous disclosure filings available
under Westport's SEDAR profile at www.sedar.com and under
Westport's EDGAR profile at www.sec.gov. In addition, the effects
and the impact of inflation and supply chain disruptions are
difficult to predict at this time and could cause actual results to
differ materially from the forward-looking statements contained
herein. Readers should not place undue reliance on any such
forward-looking statements, which speak only as of the date they
were made. Westport disclaims any obligation to publicly update or
revise such statements to reflect any change in its 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 law.
Contacts: |
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Westport Media Relations |
Westport Investor Relations |
T: +1 947-339-8097 |
T: +1 604-718-2046 |
E: media@wfsinc.com |
E: invest@wfsinc.com |
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