Mr. Scott Baker reports

WESTPORT ANNOUNCES METHANOL HPDI(TM) PROJECT WITH A LEADING GLOBAL SUPPLIER OF POWER SOLUTIONS FOR MARINE APPLICATIONS

Westport Fuel Systems Inc. has developed a proof-of-concept project with a leading global supplier of power solutions for marine applications (the OEM (original equipment manufacturer)) to test Westport's high-pressure direct injection (HPDI) fuel system utilizing methanol for marine applications. The project, expected to start in the first quarter of 2024, will be fully financed by the OEM, and is planned to run for approximately nine months.

The project marks the potential application of the HPDI fuel system for use with marine applications, serving as an initial proof-of-concept project utilizing methanol. It also signifies the possibility of an expansion of Westport's HPDI fuel system beyond the LNG (liquefied natural gas) applications commercially available now and the hydrogen applications demonstrated to date. Using renewable or carbon-neutral methanol derived from green or blue hydrogen, Westport is confident this alternative fuel approach offers an economical and efficient pathway to decarbonize the sector without compromising performance.

"We are excited to continue to demonstrate Westport's HPDI fuel system as a sustainable solution for hard-to-abate sectors like marine applications," said Scott Baker, vice-president of global engineering for Westport Fuel Systems. "Westport's HPDI technology is versatile and can be used with a range of low-carbon and zero-carbon fuels."

Mr. Baker continued: "Demonstrating methanol capability with HPDI further validates our proprietary technology as an affordable solution to decarbonize the marine sector. Our fuel system is expected to provide similar torque, power and efficiency to diesel, while also potentially reducing NOx emissions utilizing easily accessible and lower-cost methanol as the fuel."

Methanol presents several advantages for off-road and marine applications, including its high energy density, which extends operational range and reduced emissions compared with traditional fossil-based fuels. Its combustion characteristics contribute to high engine efficiency and performance, with significant engine out NOx (nitric oxides) reductions. In addition, the ease of distribution and handling, stable storage, and lower costs enhance its practicality for off-road fleets. Methanol's adaptability to existing engines, potential for blending and global availability further position it as a versatile and accessible fuel option for off-road vehicles, making it a compelling choice for industries seeking efficient, cost-effective and environmentally friendly solutions that they can apply relatively quickly to their entire fleets. Renewable methanol produced from low-carbon sources is growing globally; according to the Methanol Institute there are more than 80 renewable methanol projects currently under way around the globe.

About Westport Fuel Systems Inc.

Westport is driving innovation to power a cleaner tomorrow. It 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.

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