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Westport Fuel Systems

#9511

Rank

$50.51M

Marketcap

CA Canada

Country

Westport Fuel Systems
Leadership team

Mr. David M. Johnson (CEO & Director)

Mr. Nicola Cosciani (Exec. VP of Global Operations)

Mr. Lance Garner Follett (Chief Legal Officer & Exec. VP)

Products/ Services
Automotive, Manufacturing
Number of Employees
1,000 - 20,000
Headquarters
Vancouver, British Columbia, Canada
Established
1995
Company Registration
SEC CIK number: 0001370416
Revenue
100M - 500M
Traded as
WPRT
Social Media
Overview
Location
Summary
Westport Fuel Systems Inc. engages in the engineering, manufacturing, and supplying alternative fuel systems and components for use in transportation applications worldwide. The company operates through Original Equipment Manufacturer and Independent Aftermarket segments. It offers alternative fuel systems and components, which include a range of alternative fuels, such as liquefied petroleum gas, compressed natural gas, liquefied natural gas, renewable natural gas, and hydrogen; and independent aftermarket, light and heavy-duty original equipment manufacturers (OEMs) and delayed OEMs, electronics, hydrogen, and fuel storage activities. The company also provides Westport High Pressure Direct Injection 2.0, a fully integrated fuel systems that enables diesel engines using primarily natural gas fuel to match the power, torque, and fuel economy benefits found in traditional compression ignition diesel engines, which reduces greenhouse gas emissions. Its products and services are used for passenger cars; light-, medium-, and heavy-duty trucks; and cryogenics and hydrogen applications under the Cummins Westport, BRC Gas Equipment, Westport, OMVL, Prins, GFi Control systems, Emer, Zavoli, TA Gas Technology, Valtek, and AFS brands. The company was formerly known as Westport Innovations Inc. and changed its name to Westport Fuel Systems Inc. in June 2016. Westport Fuel Systems Inc. was incorporated in 1995 and is headquartered in Vancouver, Canada.
History

In the early 1980s Philip Hill, then a University of British Columbia mechanical engineering professor, sought improvements to natural gas combustion in engines. Hill's team of graduate students and research engineers focused on natural gas as a fuel in diesel engines to reduce emissions of nitrogen oxides and harmful atmospheric particulate matter. At the same time, he wanted to preserve the performance, fuel economy, durability and reliability characteristics of the traditional diesel engine.

With funding limited and finding few suitable commercial components or testing equipment, Hill and his team designed and fabricated their own components and equipment. The theoretical results they obtained from their research and experimentation was a significant factor in the later development of Westport.By injecting a small amount of diesel fuel before a main, high-pressure, direct injection of natural gas to start the combustion, Hill was able to successfully retain important characteristics of the diesel engine. In 1994, through UBC's University-Industry Liaison Office, Hill met David Demers, who later became Westport's CEO. In 1995 the two founded Westport Innovations Inc. to capitalize on the HPDI technology.

Milestones

2001: Westport and Cummins formed a joint venture, Cummins Westport Inc, which now offers medium-duty natural gas vehicle engines from 150 to over 400 horsepower. Now used in over 60 OEM vehicles, over 30,000 of the engines have sold worldwide.

2005: Westport and Beijing Tianhai Industry Co. Ltd. began a relationship which led to forming a joint venture—BTIC Westport Inc.—to develop and market natural gas tanks for transportation.

2006: Westport HD Engine and LNG Fuel System for heavy-duty trucking applications was launched. The HPDI technology is based on the 15-litre Cummins ISX but is adaptable to other OEM engines as well.

2008: Westport formed a joint venture with Weichai Power, China's largest heavy-duty engine manufacturer, and Hong Kong Peterson Equipment Ltd. Today Weichai Westport Inc. manufactures and sells alternative-fuel engines for automobiles, heavy-duty trucks, power generation and shipping applications. Westport listed on the NASDAQ Stock Market in 2008 as WPRT, while continuing to trade under WPT on the Toronto Stock Exchange.

2009: Westport and Volvo committed to a supply agreement for Westport natural gas fuel systems for commercializing Volvo heavy-duty applications.

2010: Juniper Engines Inc. became a wholly owned subsidiary of Westport as a result of the acquisition of OMVL SpA in July 2010 and OMVL's 51% share of Juniper. Westport LD now offers natural gas and liquefied petroleum gas engines and fuel systems for the OEM light-duty automotive and industrial market.

2011: Westport acquired Emer SpA, a fuel system and components manufacturer, and AFV, a Swedish bi-fuel engine manufacturer and supplier of alternative fuel systems for Volvo Cars.

In April, 2013 Cummins using technology developed by Westport Innovations began shipping large natural gas fueled engines to truck manufacturers in the United States as trucking companies began converting portions of their fleets to natural gas and the natural gas distribution network in the United States began to expand.

Mission
The mission of Westport Fuel Systems is to be a world-leading provider of alternative fuel solutions for the transportation industry by delivering safe, quality, and reliable alternative fuel systems and components that meet customer expectations and regulatory requirements.
Vision
Westport Fuel Systems will be the world’s trusted innovator, leader and total solution provider for commercial and passenger vehicle alternative fuel systems, enabling our customers to achieve lower emissions and greater performance.
Key Team

Mr. Bart van Aerle (Exec. VP of IAM & LD OEM)

Mr. William Edward Larkin (Chief Financial Officer)

Mr. Rohan Athaide (Compliance Officer and VP of Risk Management & Assurance)

Mr. Marco Seimandi (VP of Sales & Marketing)

Mr. Solomon Samuel (VP of Global HR)

Dr. Melih Ogmen (Chief Technology Officer of Applied Technologies)

Mr. Tim Smith (Exec. VP & Chief of Staff)

Recognition and Awards
Westport Fuel Systems has been recognized for its leadership and innovation in the alternative fuels industry. In 2019, it was awarded the Frost & Sullivan Automotive Innovator of the Year Award and the Profit 500 Growth Company of the Year Award. The company is also the recipient of the 2020 Clean Air Award from The Texas Commission on Environmental Quality.
References

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Westport Fuel Systems
Leadership team

Mr. David M. Johnson (CEO & Director)

Mr. Nicola Cosciani (Exec. VP of Global Operations)

Mr. Lance Garner Follett (Chief Legal Officer & Exec. VP)

Products/ Services
Automotive, Manufacturing
Number of Employees
1,000 - 20,000
Headquarters
Vancouver, British Columbia, Canada
Established
1995
Company Registration
SEC CIK number: 0001370416
Revenue
100M - 500M
Traded as
WPRT
Social Media