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-Westport Announces Methanol HPDI™ Project with a Leading Global Provider of Energy Solutions for Marine Applications
Represents the inaugural adaptation of the HPDI fuel system using methanol for marine applications
VANCOUVER, BC, Feb. 26, 2024 /PRNewswire/ -- Westport Fuel Systems Inc. ("Westport" or the "Company") (TSX: WPRT) (Nasdaq: WPRT), a leading provider of advanced fuel systems and components alternative for the global transportation industry, today announced a proof-of-concept project with a leading global provider of power solutions for marine applications (the "OEM") to test Westport High Pressure Direct Injection ("HPDI") that uses methanol for marine applications (the "Project"). The project, expected to begin in the first quarter of 2024, will be fully funded by the OEM and is planned to last approximately nine months.
The project marks the potential application of the HPDI fuel system for use in marine applications, and serves as an initial proof-of-concept project using methanol. It also means the possibility of an expansion of Westport's HPDI fuel system beyond the currently commercially available LNG applications and the hydrogen applications demonstrated to date. By using renewable or carbon-neutral methanol derived from green or blue hydrogen, Westport is confident that this alternative fuel approach offers a cost-effective and efficient path to decarbonise the sector without compromising performance.
“We are excited to continue demonstrating Westport's HPDI fuel system as a sustainable solution for hard-to-cut sectors such as 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 variety of low and zero carbon fuels."
Baker added, "Demonstrating methanol capability with HPDI further validates our patented technology as an affordable solution to decarbonize the marine sector. Our fuel system is expected to provide diesel-like torque, power and efficiency, while "potentially reduces NOx emissions by using easily accessible and lower cost methanol as a fuel."
Methanol has several advantages for marine and off-road applications, including its high energy density, which extends operating range and reduces emissions compared to traditional fossil fuels. Its combustion characteristics contribute to high engine efficiency and performance, with significant NOx reductions. Additionally, ease of distribution and handling, stable storage and lower costs increase its practicality for off-road fleets. Methanol's adaptability to existing engines, its blending potential, and its global availability further position it as a versatile and affordable fuel option for off-road vehicles, making it a compelling option for industries seeking efficient, cost-effective solutions. and environmentally friendly that they can apply relatively quickly to all their fleets. Renewable methanol produced from low-carbon sources is growing globally; According to the Methanol Institute, there are currently more than 80 renewable methanol projects underway around the world1.
About Westport Fuel Systems
At Westport, we drive innovation to power a cleaner tomorrow. We are a leading provider of advanced components and delivery systems for clean, low-carbon fuels, such as natural gas, renewable natural gas, propane and hydrogen, to the global transportation industry. Our technology delivers the performance and fuel efficiency transportation applications require 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, we serve our customers in more than 70 countries with leading global transportation brands. At Westport we think about the future. For more information visit www.wfsinc.com.
About HPDI
HPDI is a cost-effective way to reduce CO2 in long-haul trucking and other off-road and heavy-duty applications. Westport's HPDI fuel system is a complete system that offers OEMs the flexibility to easily differentiate their biogas, natural gas, hydrogen and other fuel product lines, while maintaining maximum similarity to their conventional diesel-powered products. . Using HPDI, greenhouse gas-emitting fuels, such as diesel, can be replaced with carbon-neutral or zero-carbon fuels, such as biogas or hydrogen, while maintaining the durability, affordability, efficiency and performance characteristics have associated with diesel. For additional information about HPDI, visit https://wfsinc.com/technology/hpdi.
Forward-looking statements:
This press release contains forward-looking statements, including statements regarding methanol for marine applications, the high-power market and the factors responsible for the growth and potential development of the H HPDI system for the marine sector. These statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties and are based on both management's views and assumptions that may cause our actual results, levels of activity, performance or achievements to be materially different. of any future results. levels of activity, performance or achievements expressed or implied by these forward-looking statements. These risks, uncertainties and assumptions include those related to the general economy, supply chain disruptions, government policies and regulations, high power industry factors, H HDPI system demand, affordability to decarbonize the marine industry, as well as 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 such forward-looking statements, which speak only as of the date on which they are made. We disclaim any obligation to publicly update or revise any such statements to reflect any changes in our expectations or in events, conditions or circumstances on which such statements may be based, or which 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 referenced in this press release are not incorporated herein by reference.
Media Relations, E: media@wfsinc.com; Investor Relations, T: 1 604-718-2046, E: invest@wfsinc.com
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