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Westport Fuel Systems Inc (2)
Symbol WPRT
Shares Issued 17,174,972
Close 2023-11-03 C$ 7.83
Market Cap C$ 134,480,031
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Westport Fuel to adapt H2 HPDI for locomotive OEM

2023-11-06 09:40 ET - News Release

Mr. Scott Baker reports

WESTPORT ANNOUNCES HYDROGEN HPDI(TM) PROJECT WITH A LEADING GLOBAL LOCOMOTIVE ORIGINAL EQUIPMENT MANUFACTURER

Westport Fuel Systems Inc. has entered into an agreement with a leading global provider of locomotives and related equipment for the freight and transit rail industries to adapt its hydrogen (H2) HPDI fuel system for use with the locomotive original equipment manufacturer's (OEM) engine design. The two-year H2 HPDI proof-of-concept project is expected to begin immediately and is fully financed by the OEM.

This is Westport's first application of the H2 HPDI system for a locomotive. These applications require large capital investments in equipment that must perform in demanding, sometimes isolated, harsh environments. Westport's H2 HPDI fuel system has the potential to be a retrofit solution in this high horsepower market, leveraging the proven durability of the base diesel engine, to quickly decarbonize the rail sector. Westport believes this is a particularly affordable path to decarbonizing this sector without compromising performance or efficiency.

"We are excited to work with a globally recognized team to jointly demonstrate the decarbonization potential of our HPDI technology in high horsepower applications," said Scott Baker, vice-president of global engineering for Westport Fuel Systems. "Rail is a market for our hydrogen system and is clearly aligned with our approach to provide alternative decarbonization solutions for all modes of transportation. With near-zero CO2 [carbon dioxide] emissions, H2 HPDI will assist our partner to affordably decarbonize the transportation markets it serves."

Westport is committed to realizing an affordable and viable pathway to minimize emissions through its decades-long record of innovation, specialized engineering and market-ready products.

About Westport Fuel Systems Inc.

At Westport Fuel Systems, the company is driving innovation to power a cleaner tomorrow. The company is 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. The company's 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, Westport serves its customers in more than 70 countries with leading global transportation brands.

About HPDI

HPDI is a cost-effective way to reduce CO2 in long-haul trucking and other high-load and off-road applications. Westport's HPDI fuel system is a complete system offering OEMs the flexibility to differentiate their biogas, natural gas, hydrogen and other fuel product lines easily, while also maintaining maximum commonality with their conventional diesel-fuelled products. Using HPDI, greenhouse gas-emitting fuels like diesel can be replaced with carbon-neutral or zero-carbon fuels like biogas or hydrogen, while maintaining the durability, affordability, efficiency and performance characteristics that have come to be associated with diesel.

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