VANCOUVER, British Columbia, Sept. 23, 2020 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (“Westport Fuel Systems”) (TSX:WPRT / Nasdaq:WPRT) today issued a statement to clarify market news regarding its Weichai Westport Inc. (“WWI”) joint venture and WWI’s 12-liter engine equipped with the HPDI 2.0™ fuel system (“WP12HPDI”).

As previously disclosed, certification for the WP12HPDI engine has been obtained from the Ministry of Ecology and Environment (“MEE”) of the People’s Republic of China. This is an important step in the process of bringing HPDI 2.0 to the Chinese commercial vehicle market. The engine certification is required in order to complete vehicle … Continue Reading

VANCOUVER, British Columbia, Sept. 18, 2020 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (“Westport Fuel Systems”) (TSX:WPRT / Nasdaq:WPRT) today announced that its Weichai Westport Inc. (“WWI”) joint venture has received certification from the Ministry of Ecology and Environment of China (“MEE”) for its 12-liter engine equipped with the HPDI 2.0TM fuel system (“WP12HPDI”). WWI is now in a position to market and sell the heavy-duty natural gas engines with HPDI technology to various truck original equipment manufacturers (“OEMs”).  Weichai Power Co., Ltd’s (“Weichai Power”) 12-liter heavy-duty engine platform is the base engine for the WP12HPDI.

“Following the delays introduced … Continue Reading

VANCOUVER, British Columbia, Sept. 15, 2020 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (“Westport Fuel Systems” or the “Company”) (TSX:WPRT / Nasdaq:WPRT) today announced that it has signed definitive agreements with its joint venture partner in India, UNO MINDA Group (“UNO MINDA” or the “Group”), to sell the assets of its wholly owned subsidiary Rohan BRC Gas Equipment Pvt. Ltd. to Minda Emer Technologies Ltd., a 50%/50% joint venture owned by Westport Fuel Systems and UNO MINDA.

Rohan BRC Gas Equipment primarily manufactures and sells compressed natural gas (“CNG”) pressure reducers to automotive original equipment manufacturers (“OEMs”) and sells CNG … Continue Reading

VANCOUVER, British Columbia, Aug. 31, 2020 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (“Westport Fuel Systems” or the “Company”) (TSX:WPRT / Nasdaq:WPRT) today announced that it has been awarded a long-term agreement for the supply of electronic control units to a leading Tier One automotive supplier.

Westport Fuel Systems will manufacture and supply the electronic control units that will be integrated in the electric water pumps of two light-duty vehicle models of the counterparty automotive original equipment manufacturer (“OEM”) in Europe, starting in the first quarter of 2021. The electric coolant pump is the core component of the vehicle cooling … Continue Reading

VANCOUVER, British Columbia, Aug. 11, 2020 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (“Westport Fuel Systems” or the “Company”) (TSX:WPRT / Nasdaq:WPRT) today announced that they have secured a €7 million loan from Deutsche Bank to improve liquidity during the COVID-19 pandemic and finance capital investments for long-term growth.

The six-year €7 million term loan was issued to Westport Fuel Systems’ Italian subsidiary, Emer S.p.A (“Emer”), under the Italian government’s Decreto Liquidità (“Liquidity Decree”), an enhanced framework of business support established to help manage the challenges of COVID-19. This loan provides Emer with improved liquidity for working capital, payroll, and … Continue Reading

VANCOUVER, British Columbia, Aug. 11, 2020 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (“Westport Fuel Systems” or the “Company”) (TSX:WPRT / Nasdaq:WPRT) today released their inaugural Environmental, Social and Governance (“ESG”) Report outlining the Company’s progress and focus on strengthening ESG performance and enhanced disclosures. This ESG report follows our prior year Sustainability Report and will be a valuable tool for investors and stakeholders to review Westport Fuel Systems’ key material ESG topics, opportunities and performance.

“Westport Fuel Systems is a purpose-driven organization and our 2019 Report demonstrates our commitment to ESG programs and performance to drive sustainable growth” said … Continue Reading

VANCOUVER, British Columbia, Aug. 06, 2020 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (“Westport Fuel Systems”) (TSX:WPRT / Nasdaq:WPRT) reported financial results for the second quarter ended June 30, 2020 and provided an update on operations. All figures are in millions of U.S. dollars unless otherwise stated.

Key Results

VANCOUVER, British Columbia, Aug. 04, 2020 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (“Westport Fuel Systems” or the “Company”) (TSX:WPRT / Nasdaq:WPRT) today announced a new contract between MTM (the fully owned Italian subsidiary of Westport Fuel Systems) and NAFTAL (Algerian State Owned Agency for Distribution and Sale of Oil and Gas) to supply 30,000 liquified petroleum gas (“LPG”) systems into the growing Algerian market.

The systems will be delivered in 2020 and 2021 and extends a long and successful partnership between MTM and NAFTAL that has already deployed more than 90,000 LPG systems in the last four years.  The … Continue Reading

VANCOUVER, British Columbia, July 24, 2020 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (“Westport Fuel Systems” or the “Company”) (TSX:WPRT / Nasdaq:WPRT) today announced that they have secured a €15 million loan from UniCredit (“UniCredit”) to improve liquidity during the COVID-19 pandemic.

The six-year €15 million term loan was issued to Westport Fuel Systems’ Italian subsidiary, MTM S.r.l.(“MTM”), under the Italian government’s Decreto Liquidità (“Liquidity Decree”), an enhanced framework of business support established to manage the challenges associated with COVID-19. This loan provides MTM with improved liquidity for working capital, payroll, and capital investment.

“UniCredit’s support of Westport Fuel … Continue Reading

VANCOUVER, British Columbia, July 24, 2020 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (“Westport Fuel Systems” or the “Company”) (TSX:WPRT / Nasdaq:WPRT) today announced that it 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 (“Cartesian”).

Under the terms of the agreement, the Company has agreed to pay down the principal amount of the existing convertible notes from USD $17.5 million to USD $10 million.  Concurrent with such repayment, the maturity of the remaining amended notes will be extended to three years from the … Continue Reading

VANCOUVER, British Columbia, July 23, 2020 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (“Westport Fuel Systems” or the “Company”) (TSX:WPRT / Nasdaq:WPRT) today announced that it will disclose its financial results for the second quarter ended June 30, 2020 on Thursday, August 6, 2020 after market close. To coincide with the disclosure, Westport Fuel Systems has also scheduled a conference call for Friday, August 7, 2020 at 10:30am Eastern Time (7:30am Pacific Time).

Live Conference Call & Webcast
The public is invited to listen to the conference call in real time by telephone or webcast. To access the conference call … Continue Reading

~Strengthens liquidity to weather the impact of COVID-19~

VANCOUVER, British Columbia, July 23, 2020 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (“Westport Fuel Systems” or the “Company”) (TSX:WPRT / Nasdaq:WPRT) today announced that they have closed a US$10 million term credit facility (the “facility”) from Export Development Canada (“EDC”) to bolster liquidity during the COVID-19 pandemic.

The credit facility from EDC enables the Company to make periodic requests for advances for a period of nine months from the date of the Amended and Restated Loan Agreement and has a final maturity date twelve months from the date of the Agreement. … Continue Reading