Westport Fuel Systems Inc. (NASDAQ: WPRT)

Westport Fuel Systems Inc. engineers manufactures and supplies alternative fuel systems and components for transportation applications to enable the use of fuels such as hydrogen liquefied natural gas biomethane compressed natural gas and liquefied petroleum gas in passenger cars and light‑medium‑ and heavy‑duty commercial vehicles and off‑highway applications offering environmental and economic advantages over diesel gasoline or battery electric vehicles.

Westport Fuel Systems Inc. generates revenue by designing manufacturing developing validating certifying and selling alternative fuel components and systems including pressure regulators injectors electronic control units valves filters complete bi‑fuel mono‑fuel and dual‑fuel LPG and natural gas conversion kits and high‑pressure hydrogen components to original equipment manufacturers Tier 1 and Tier 2 suppliers and aftermarket distributors and installers across approximately 70 countries.

The company operates through the following segments: Cespira Light‑Duty High‑Pressure Controls and Systems Heavy‑Duty OEM.

• Cespira promotes develops and commercializes the HPDI fuel system technology a fully OEM‑integrated solution enabling heavy‑duty trucks to operate on natural gas RNG hydrogen and other alternative fuels supplying systems engineering services and components including LNG HPDI fuel system products to engine manufacturers and commercial vehicle OEMs with the system delivering equivalent power torque and fuel efficiency as conventional compression ignition engines while reducing greenhouse gas emissions using renewable fuels such as RNG and adapting the technology for hydrogen and other alternative fuel applications in internal combustion engines.

• Light‑Duty specializes in LPG and CNG solutions including fuel storage tanks serving OEM delayed OEM and independent aftermarket markets offering industry‑leading direct injection engine technology compliant with EURO 7 and EPA 24 standards along with lightweight high‑quality fuel storage solutions with systems integrated into production lines by vehicle manufacturers conversions performed at 0 km in specialized centers operated by Westport or its partners and aftermarket products including conversion kits supporting post‑sale conversions through an extensive dealer and installer network operating in approximately 70 countries worldwide.

• High‑Pressure Controls and Systems designs develops and produces high‑demand components for transportation and industrial applications partnering with leading fuel cell hydrogen engine and alternative fuel engine manufacturers and companies committed to decarbonizing transport offering versatile solutions serving a variety of fuel types with components already powering emission‑reducing innovation across alternative fuels while positioning the company for significant growth as the go‑to choice for those shaping the future of clean energy.

• Heavy‑Duty OEM reflects historical results from the heavy‑duty business for the period January 1 2024 until the formation of the Cespira joint venture on June 3 2024 and going forward will reflect revenue earned from a transitional services agreement with Cespira intended to support the joint venture in the short‑term as the organization establishes its operations.

Westport Fuel Systems Inc. holds a leadership position in direct injection technology for alternative fuel systems leveraging expertise and advanced engineering to deliver high‑performance solutions that set it apart from competitors who struggle with the complexities of DI technology while facing competition from alternative powertrain technologies including incumbent technologies and increased market competition from aftermarket kit providers as the natural gas engine product market grows.

Westport Fuel Systems Inc. serves original equipment manufacturers Tier 1 and Tier 2 OEM suppliers distributors service providers for the aftermarket and customers in approximately 70 countries worldwide including leading global transportation brands.