Cespira’s Hydrogen HPDI™ Fuel System Now in On-Road Testing

Rhea-AI Summary

Westport Fuel Systems (TSX:WPRT, Nasdaq:WPRT) said its joint venture Cespira will deploy the HPDI™ hydrogen fuel system in on-road testing with Volvo heavy-duty trucks, with a commercial launch planned prior to 2030. Cespira's HPDI platform is already used in over 10,000 Volvo LNG trucks and the hydrogen variant keeps core system architecture while aiming for near-100% CO2 reductions versus diesel.

Positive

• On-road testing with Volvo for hydrogen HPDI
• Commercial launch planned prior to 2030
• Proven platform used in over 10,000 Volvo LNG trucks
• Near-100% CO2 reduction claim versus diesel trucks

Negative

• Commercial launch described as planned, not a firm binding commitment
• Hydrogen HPDI classification as Zero Emissions Vehicle is capable but not guaranteed

Key Figures

CO2 reduction: nearly 100% CO2 reductions Volvo LNG trucks: over 10,000 trucks Commercial launch timing: prior to 2030 +5 more

8 metrics

CO2 reduction nearly 100% CO2 reductions Hydrogen HPDI vs diesel trucks

Volvo LNG trucks over 10,000 trucks Cespira HPDI system in Volvo LNG trucks worldwide

Commercial launch timing prior to 2030 Volvo’s planned commercial launch of hydrogen HPDI trucks

Milestone payment $6.5 million Light-Duty divestiture escrow milestone (Feb 4, 2026 6-K)

China hydrogen share close to 50% of global sales Hydrogen transport market share in H1 2025 (China facility context)

Ownership stake 6.70% of common stock Grace & White ownership as of Dec 31, 2025

Baird ownership 1.0% of class Baird-affiliated entities’ stake based on 17,282,934 shares

Market cap $31,947,064 Pre-news market capitalization

Market Reality Check

Price: $1.9400 Vol: Volume 16,336 is 0.46x th...

low vol

$1.9400 Last Close

Volume Volume 16,336 is 0.46x the 20-day average of 35,142, suggesting limited pre-news positioning. low

Technical Shares at $1.82 are trading below the $2.36 200-day MA and about 56.14% under the 52-week high of $4.15.

Peers on Argus

WPRT was down 1.09% while key peers showed mixed moves: SYPR up 5.56%, GTEC up 9...

1 Up

WPRT was down 1.09% while key peers showed mixed moves: SYPR up 5.56%, GTEC up 9.19%, WKSP up 6.23%, and PRTS slightly down. Only one momentum-screened peer (CVGI) appeared, up 3.23% without news, pointing to stock-specific rather than sector-driven action.

Historical Context

5 past events · Latest: Mar 20 (Negative)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 20	Cybersecurity incident	Negative	-4.1%	Unauthorized IT access and delayed annual financial filings disclosure.
Mar 12	Earnings scheduling	Neutral	+2.5%	Announcement of Q4 and full-year 2025 results and call timing.
Feb 04	Milestone payment	Positive	+4.8%	Receipt of $6.5M non-dilutive escrow payment from Light-Duty sale.
Jan 19	Production ramp	Positive	+4.8%	Start of production at new high-pressure controls and hydrogen facilities.
Jan 02	Board changes	Positive	+14.0%	New Chair and director appointment to strengthen financial expertise.

Pattern Detected

Recent operational and strategic positives have generally seen aligned positive price reactions, while the cybersecurity incident coincided with a modest decline.

Recent Company History

Over the past months, Westport has reported several strategic developments. A $6.5 million Light-Duty divestiture milestone on Feb 4, 2026 and new high-pressure facilities announced on Jan 19, 2026 both saw positive price reactions. Board changes disclosed on Jan 2, 2026 also aligned with a strong gain. In contrast, the cybersecurity incident revealed on Mar 20, 2026 led to a -4.11% move. Today’s hydrogen HPDI on-road testing update extends this pattern of hydrogen-focused operational milestones.

Market Pulse Summary

This announcement highlights a key validation step for Westport’s hydrogen HPDI technology, as Cespi...

Analysis

This announcement highlights a key validation step for Westport’s hydrogen HPDI technology, as Cespira’s system moves into on-road testing in Volvo heavy-duty trucks with a commercial launch planned before 2030. The platform builds on a base of over 10,000 Volvo LNG trucks and targets nearly 100% CO2 reductions versus diesel. In recent months, Westport has combined hydrogen-focused capacity expansion with non-dilutive cash inflows, while also managing a cybersecurity incident and delayed filings, all relevant for evaluating execution risk and strategic progress.

Key Terms

internal combustion engine, oems, lng, biolng, +1 more

5 terms

internal combustion engine technical

"Hydrogen use in an internal combustion engine with Cespira’s HPDI fuel system..."

A device that creates motion by burning fuel inside cylinders, turning the energy from small controlled explosions into mechanical force that drives wheels or machinery—think of it as a piston-driven muscle that converts fuel into movement. Investors care because its prevalence and efficiency shape demand for fuels, vehicle and parts makers, maintenance services, and emissions regulation exposure; changes in technology, fuel prices or rules can shift profits across entire industries.

oems technical

"while allowing OEMs to preserve their existing engine architecture..."

OEMs, or Original Equipment Manufacturers, are companies that produce the main components or products that other companies use to build finished goods. For investors, OEMs are important because their performance can influence the supply chain, manufacturing costs, and overall market trends in industries like technology, automotive, and electronics. Their success often reflects broader economic health and consumer demand.

lng technical

"Cespira’s HPDI fuel system, running on LNG and bioLNG, is a well-established..."

Liquefied natural gas (LNG) is natural gas that has been cooled into a liquid so it takes up far less space for transport and storage, like turning a bulky bundle into a compact package for shipping. Investors care because LNG enables gas trade across regions without pipelines, so changes in production, export capacity, shipping, or demand can quickly affect energy company revenues, infrastructure operators and commodity prices, amplifying both opportunity and risk.

biolng technical

"Cespira’s HPDI fuel system, running on LNG and bioLNG, is a well-established..."

BioLNG is renewable natural gas that has been cooled into a liquid so it can be stored and shipped like conventional liquefied natural gas; think of it as compressed plant- and waste-derived fuel turned into a portable, cold-packed form. It matters to investors because it creates a low‑carbon substitute for diesel and fossil gas, opening new markets, pricing premiums, infrastructure needs and policy incentives that can drive revenue growth or capital investment risks for companies involved in production, transport, and fueling.

green hydrogen medical

"For example, green hydrogen is created from water."

Green hydrogen is hydrogen made by splitting water with electricity that comes from renewable sources, producing little or no carbon emissions. Investors watch it because it can act like a rechargeable, low‑carbon fuel or energy carrier for industries and transport that are hard to electrify, creating long‑term demand for production plants, storage and transport infrastructure and making returns sensitive to technology costs, energy prices and policy support.

AI-generated analysis. Not financial advice.

Advancing HPDI Technology for Hydrogen Fuel

VANCOUVER, British Columbia, April 01, 2026 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (“Westport" or the “Company”) (TSX:WPRT / Nasdaq:WPRT), a leading supplier of advanced alternative fuel systems and components for the global transportation industry, is pleased to announce that its joint venture, Cespira and their HPDI™ fuel system technology will be utilized by Volvo in on-road testing of heavy-duty trucks powered by hydrogen. Volvo has indicated that a commercial launch is planned to take place prior to 2030.

“On-road testing is a key milestone in demonstrating that Cespira’s hydrogen HPDI fuel system is a cost-effective solution that operates on a zero-carbon fuel while delivering best-in-class power, torque, and efficiency,” said Dan Sceli, Chief Executive Officer of Westport. “Hydrogen use in an internal combustion engine with Cespira’s HPDI fuel system delivers nearly 100% CO2 reductions over diesel fueled trucks 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.”

Cespira’s HPDI fuel system, running on LNG and bioLNG, is a well-established and reliable commercial platform. It is used in over 10,000 Volvo LNG trucks worldwide. The hydrogen powered version of HPDI uses fundamentally the same system that has been proven for LNG with a few small variations. Hydrogen HPDI is a high-performance solution to support climate neutrality in the heavy-duty mobility sector that is capable of being classified as a Zero Emissions Vehicle under the EU CO2 emissions standards. Moreover, hydrogen can be produced from different feedstock than fossil fuels. For example, green hydrogen is created from water. This makes hydrogen a promising option to deliver energy security and independence in various regions around the world and positioning it as an attractive fuel for the future.

More information about Cespira, a joint venture between Westport and Volvo AB can be found here.

About Westport

Westport is a technology and innovation company connecting synergistic technologies to power a cleaner tomorrow. As a leading supplier of affordable, alternative fuel, low-emissions transportation technologies, we design, manufacture, and supply advanced components and systems that enable the transition from traditional fuels to cleaner energy solutions.

Our proven technologies support a wide range of clean fuels – including natural gas, renewable natural gas, and hydrogen – empowering OEMs and commercial transportation industries to meet performance demands, regulatory requirements, and climate targets in a cost-effective way. With decades of expertise and a commitment to engineering excellence, Westport is helping our partners achieve sustainability goals—without compromising performance or cost-efficiency – making clean, scalable transport solutions a reality.

Westport is headquartered in Vancouver, Canada. For more information, visit www.westport.com.

Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements, including statements regarding, among other things, the anticipated performance, efficiency and emissions characteristics of Cespira’s hydrogen HPDI™ fuel system; the expected benefits of hydrogen use in internal combustion engines; the progress, timing and outcomes of on-road testing and development activities; the timing and likelihood of potential future commercialization and launch of hydrogen-powered heavy-duty trucks; the ability for hydrogen HPDI technology to support climate neutrality and to be classified as a zero-emissions vehicle under applicable standards; the availability, adoption and market demand for hydrogen and related infrastructure; and the intentions, plans and actions of our joint venture and other partners. Forward-looking statements are based on management’s current expectations and assumptions and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements.These risks, uncertainties and assumptions include, among others: the ability of Westport, Cespira and their partners to successfully develop, validate and commercialize hydrogen HPDI technology on expected timelines or at all; the results of testing and the ability to achieve required performance, durability, reliability, safety and regulatory requirements; the availability and cost of hydrogen (including renewable/low-carbon hydrogen), refueling and distribution infrastructure and related supply chains; customer acceptance and adoption rates for hydrogen-powered vehicles; changes in laws, regulations and standards applicable to emissions, zero-emissions vehicle classification and incentives; competitive technologies and products; general economic and market conditions; as well as other risk factors, uncertainties and assumptions that may affect our actual results, performance, achievements or financial position discussed in our most recent Annual Information Form and other filings with securities regulators. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they were made. We disclaim any obligation to publicly update or revise such statements to reflect any change in our 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 National Instrument 51-102. The contents of any website, RSS feed or twitter account referenced in this press release are not incorporated by reference herein.

Contact Information

Westport Investor Relations
T: +1 604-718-2046

FAQ

What is Westport (WPRT) announcing about Cespira's hydrogen HPDI on April 1, 2026?

Westport announced Cespira's HPDI hydrogen fuel system will be used in Volvo on-road truck testing, with a commercial launch planned before 2030. According to Westport, the hydrogen variant adapts the proven LNG HPDI platform used in over 10,000 Volvo LNG trucks.

How does Cespira's hydrogen HPDI affect CO2 emissions for Volvo trucks (WPRT)?

Cespira's hydrogen HPDI aims to deliver nearly 100% CO2 reductions compared with diesel trucks. According to Westport, the system lets OEMs retain existing engine architecture while operating on zero-carbon hydrogen fuels.

What evidence supports Cespira's HPDI reliability for Westport (WPRT)?

The HPDI platform is established in commercial service, having been used in over 10,000 Volvo LNG trucks. According to Westport, the hydrogen HPDI keeps fundamentally the same system with only small variations from the LNG version.

When does Westport expect a commercial launch for hydrogen HPDI with Volvo (WPRT)?

A commercial launch is planned to occur prior to 2030. According to Westport, on-road testing with Volvo is a key milestone toward demonstrating commercial viability ahead of that timeline.

Will Cespira's hydrogen HPDI be classified as a Zero Emissions Vehicle under EU rules for Westport (WPRT)?

Cespira's hydrogen HPDI is described as capable of being classified as a Zero Emissions Vehicle under EU CO2 standards. According to Westport, the solution meets performance and emissions criteria that could support such classification.