VANCOUVER, June 28, 2011 /CNW/ - Westport Innovations Inc.
(TSX:WPT/NASDAQ: WPRT), a global leader in alternative fuel,
low-emissions transportation technologies, today announced that it has
entered into an agreement with General Motors (NYSE: GM/TSX:GMM) to help
develop advanced natural gas engine technology. Both General Motors and
Westport will bring their extensive expertise to develop natural gas
engine controls, emissions and performance strategies.
"We are excited to work with GM and invest in advanced natural gas
technology for the automotive market," said Ian Scott, President of
Westport's Light-Duty Division. "This technology offers the promises of
a cleaner, lower cost fuel and reduced carbon footprint, while
advancing the use of domestic energy. This agreement demonstrates
Westport's success as an advanced technology partner to global
automotive manufacturers. Westport's recent announcement regarding the
planned acquisition of Emer S.p.A., of Italy, is an integral part of
our strategy to provide partners, such as GM, with the most advanced
Westport announced the planned opening of a new Technical Center in
Michigan. Westport's personnel currently includes approximately 15
people in Farmington Hills, MI, and Westport plans to add more people
and invest in facilities as demand grows for natural gas-powered,
"Natural gas is 97% North American sourced and much less expensive than
gasoline or diesel fuels," according to John Lapetz, Westport's
Light-Duty Division Managing Director, North American Vehicle Programs.
"It also produces about 15 - 20% less CO2 than those fuels."
To support OEM programs, Westport plans to add research and development
facilities to develop technologies that enable vehicles to run on
natural gas for business and government fleets, and personal use.
Utilization of domestic energy, the creation of jobs and protection of
the environment, are all part of Westport's business objectives.
"Hybridization, lower-displacement with turbo charging, direct injection
and other fuel-saving technologies now being applied to gasoline and
diesel engines, can also be applied to natural gas fueled engines for
even greater improvements in efficiency and fuel cost savings," Lapetz
About Westport Innovations Inc.
Westport Innovations Inc. is a global leader in alternative fuel,
low-emissions technologies that allow engines to operate on
clean-burning fuels such as compressed natural gas (CNG), liquefied
natural gas (LNG), hydrogen, and biofuels such as landfill gas. Our
unique technologies reduce nitrogen oxides (NOx), particulate matter
(PM), and greenhouse gas emissions (GHG). The Company focuses on three
distinct categories or target markets - light-, medium-, and heavy-duty
- through Westport business units or joint ventures. Westport's
Light-Duty Division is focused on light-duty automotive systems,
components and engines, including 2.4L engines for industrial
applications such as forklifts and oilfield service. Cummins Westport
(CWI), a joint venture with Cummins, sells the world's broadest range
of low-emissions alternative fuel engines for commercial urban fleets
such as buses, refuse trucks and vocational vehicles. Westport Heavy
Duty (Westport HD), our proprietary development platform, is engaged in
the engineering, design and marketing of natural gas-enabling
technology for the heavy-duty diesel engine and truck market. To learn
more about our business, visit our website or subscribe to our RSS feed
at www.westport.com, or follow us on Twitter @WestportWPRT.
Note: This document contains forward-looking statements, including
statements regarding the demand for our products, the future success of
our business and technology strategies, investment, cash and capital
requirements, intentions of partners and potential customers, the
performance and competitiveness of our products and expansion of
product coverage, future market opportunities, costs of natural gas
versus other fuels, the addition of future personnel, investment in
and addition of facilities and terms of future agreements. These
statements are neither promises nor guarantees, but involve known and
unknown risks and uncertainties and are based on assumptions that may
cause our actual results, levels of activity, performance or
achievements to be materially different from any future results, levels
of activities, performance or achievements expressed in or implied by
these forward looking statements. These risks and assumptions include
risks and assumptions related to our revenue growth, operating results,
industry and products, the general economy, conditions of and access to
the capital and debt markets, governmental policies and regulation,
technology innovations, fluctuations in foreign exchange rates, demand
for natural gas powered vehicles, the acceptance of natural gas
vehicles in fleet markets, the relaxation or waiver of fuel emission
standards, the inability of fleets to access capital or government
funding to purchase natural gas vehicles, the sufficiency of bio
methane for use in our vehicles, the development of competing
technologies as well as other risk factors and assumptions that may
affect our actual results, performance or 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 the forward looking statements except as
required by National Instrument 51-102.
SOURCE Westport Innovations Inc.
For further information:
Vice President, Investor Relations & Communications
Westport Innovations Inc.