Welcome to our dedicated page for Westport Fuel Systems news (Ticker: WPRT), a resource for investors and traders seeking the latest updates and insights on Westport Fuel Systems stock.
Westport Fuel Systems Inc (WPRT) is a global leader in advanced alternative fuel technologies, delivering clean energy solutions for transportation sector decarbonization. This page provides investors and industry stakeholders with timely, verified updates on the company’s strategic initiatives and market developments.
Access the latest press releases, earnings reports, and announcements covering WPRT’s engineering innovations, OEM partnerships, and aftermarket solutions. Track progress in natural gas, hydrogen, and renewable fuel systems designed to reduce emissions across global transportation networks.
Key updates include product launches, regulatory milestones, joint ventures, and financial performance. Our curated news collection ensures you stay informed on WPRT’s role in advancing sustainable mobility while maintaining compliance with evolving environmental standards.
Bookmark this page for direct access to Westport Fuel Systems’ official communications and analysis of their clean energy technology roadmap. Regularly updated to provide a comprehensive view of the company’s contributions to low-carbon transportation solutions.
Westport Fuel Systems reported a net loss of $(32.7) million or $(0.19) per share for 2022, compared to a net income of $13.7 million in 2021. Revenue decreased to $305.7 million in 2022, down from $312.4 million the previous year, attributed to the Euro's weakening against the U.S. dollar. The fourth quarter saw revenues of $78.0 million, a decline from $82.7 million in 2021. Despite operational challenges, Westport secured new programs for LPG systems and announced promising test results for its H2 HPDI technology. The company plans to focus on growth strategies in markets like Europe, India, and China in 2023.
Westport Fuel Systems (TSX: WPRT / Nasdaq: WPRT) announced a new collaboration with a global OEM to assess the performance and emissions of an engine featuring its H2 HPDI fuel system. This project, funded by the OEM, is Westport's third major OEM engagement for the H2 HPDI technology. The initiative aims to demonstrate that hydrogen can be a cost-effective solution for reducing CO2 emissions while maintaining existing diesel engine architectures. The collaboration is set to commence immediately and will last until the end of the year.
Westport Fuel Systems (TSX: WPRT / Nasdaq: WPRT) announces a strategic partnership with the City of Changzhou, China, to construct a hydrogen innovation center and manufacturing facility. This $10 million investment aims to support Westport’s hydrogen componentry business as China leads in hydrogen infrastructure. The facility, expected to be operational by 2024, will produce components for hydrogen-fueled vehicles, enhancing Westport’s manufacturing footprint in China. The partnership aligns with Changzhou's goal to be a hub for new energy industries, promoting low-emission transportation solutions globally.
Westport Fuel Systems Inc. (WPRT) will report its Q4 2022 and full fiscal year 2022 financial results on March 13, 2023, post-market. A corresponding conference call is scheduled for March 14, 2023, at 10:00 a.m. ET.
Investors can join via dial-in at 1-604-638-5340 or toll-free 1-800-319-4610. A replay of the call will be available until March 21, 2023. Westport is a leader in advanced fuel systems for clean fuels, serving over 70 countries.
Westport Fuel Systems has officially regained compliance with Nasdaq's minimum bid price requirement. A Bid Price Compliance Letter from Nasdaq confirms that from January 31, 2023 to February 13, 2023, the closing bid price for Westport's ordinary shares was $1.00 or more for ten consecutive business days. This compliance restores Westport's listing status on Nasdaq, following previous concerns regarding its share price. The Company remains a prominent player in providing advanced fuel delivery systems for low-carbon fuels globally.
Westport Fuel Systems (WPRT) announced a collaboration with Johnson Matthey to develop an emissions aftertreatment system for Westport's H2 HPDI hydrogen fuel system. This partnership aims to significantly reduce or eliminate vehicle emissions while enhancing transport performance and efficiency. The prototype system will be tested at Westport's engineering center in Vancouver, focusing on creating cleaner heavy-duty transportation. Both companies emphasize the importance of sustainable solutions in the commercial vehicle sector, with hydrogen ICE playing a critical role in future transport technologies.
Westport Fuel Systems has secured a deal to develop liquefied petroleum gas (LPG) systems for a global OEM, projected to generate €40 million annually. Production is slated to commence in Q1 2025. This follows a prior €38 million contract supporting Euro 6 vehicle applications for the same OEM. Westport aims to advance low-emission fuel adoption in vehicles, particularly as LPG provides a cleaner alternative to gasoline and diesel, complying with stringent Euro emissions regulations.
Westport Fuel Systems, a leader in low-emissions fuel technologies, announces its Capital Markets Day on December 8, 2022, showcasing its hydrogen internal combustion H2 HPDI fuel system. The event will outline the company’s strategy and financial outlook, providing a technical and commercial perspective on the new fuel system designed for heavy-duty transportation. CEO David M. Johnson emphasizes Westport's commitment to engineering advanced, affordable clean fuel systems. Interested parties can access the virtual event through their website.
Westport Fuel Systems reported a 4% revenue decline, totaling $71.2 million, for Q3 2022, largely due to unfavorable foreign exchange impacts. Excluding currency effects, revenues would have risen by 10%. A net loss of $11.9 million marked a significant increase from the $5.8 million loss in Q3 2021, driven by equity income loss from a joint venture and foreign exchange losses. However, promising hydrogen HPDI technology test results showed potential for improved efficiency in heavy-duty transport. Cash reserves stood at $86.5 million, indicating liquidity.
Westport Fuel Systems Inc. (TSX:WPRT / Nasdaq:WPRT) announced on November 3, 2022, that it received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement. The notification does not affect the immediate trading of its shares, which will continue on Nasdaq. Westport has until May 2, 2023, to regain compliance by ensuring a closing bid price of at least US$1.00 for 10 consecutive days. The company may consider options such as a reverse share split to meet this requirement, while its business operations remain unaffected.
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