Westport Innovations (WPRT) announced this morning it has acquired a Sweden based company that provides natural gas fuel systems to Volvo for $7.6 million. Alternative Fuel Vehicle Sweden AB (AFV) of Gothenburg, has been installing the nat gas fuel systems for the bi-fuel V70 wagons since 2009 and aims to expand into other markets with the help of Westport.
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"Natural gas technology is playing an … Read the rest
Significant news hit yesterday in the world of natural gas vehicles. Nat gas engine extraordinaire Westport Innovations (WPRT) announced it will work with General Motors (GM) for the advancement of natural gas engine technology. The company also announced it plans to open a new R&D center in Michigan.
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"We are excited to work with GM and invest in advanced natural gas technology for the automotive … Read the rest
Westport Innovations (WPRT) has announced that Vedder Transport of British Columbia will purchase 50 Peterbilt LNG trucks featuring their LNG engines, pumps and fuel injectors. A few months ago Robert Transport of Quebec purchased 180 of these Peterbilt LNG trucks which has been the largest order to date.
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“This is a significant order for LNG trucks in Western Canada,” said Clark Quintin, President of Westport’s … Read the rest
The largest single order for LNG trucks using Westport Innovations (WPRT) natural gas engine systems was announced today. Quebec based Robert Transport placed an order for 180 Peterbilt LNG trucks featuring Wesport HD Systems. The HD Systems consist of a 15 litre engine, proprietary fuel injectors, LNG fuel tanks and pumps and electrical components.
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“This is the single largest order for LNG Trucks powered … Read the rest
In proposed legislation introduced by Senator Harry Reid yesterday, it was clear that the natural gas fuel providers and parts suppliers may be big beneficiaries. Along with establishing a Nat Gas Vehicle and Infrastructure Development Program within the DOE, nearly $4 billion in rebates would be provided to purchasers of nat gas vehicles as well as another $2.5 billion for grants for infrastructure and R&D.
Andrew J. Littlefair, Clean Energy President and CEO, said, “We … Read the rest
Westport Innovations (WPRT) announced it has signed an agreement with Volvo Powertrain, a subsidiary of Volvo AB, defining Westport’s responsibility to develop biogas and natural gas fueled engines for Volvo. Details won’t be released until later, but the companies have agreed to share the risks of development, Westport will be reimbursed for engineering costs and will generate revenue for every new nat gas/biogas engine sold to Volvo. The two companies first signed an agreement last … Read the rest
Just a few analyst rating changes/price target adjustments today.
Morgan Stanley has cut the price target on First Solar (FSLR) from $160 to $145 this morning, but maintains its Overweight rating. This follows price cuts from Citi and Hapoalim yesterday. Shares are holding up well today, up about 2% and continue to hold the key $100 level. Click Here For Your FREE First Solar Analysis
Macquarie initiated coverage on Westport Innovations (WPRT) with a Buy … Read the rest
Westport Innovations (WPRT), which develops natural gas engines, reported a decent quarter after the bell today with results slightly ahead of analyst estimates. The company has never had a profitable quarter but continues to move closer to that goal and is expecting its first profitable year in 2011. The company reported a loss of $7.3 million or .21/share on revenues of $38.4 million.
The CEO commented on its relationship with Volvo, saying, “This was a … Read the rest