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Shares of Westport Fuel Systems soared as high as 50% on Monday after the company agreed to supply natural-gas truck engines to Amazon.
Amazon has ordered over 1,000 engines from Westport as the Seattle-based e-commerce giant explores new ways to reduce carbon emissions.
Craig-Hallum analyst Eric Stine called the agreement arguably one of the most significant events for natural gas for transportation in many years.
Shares of Westport Fuel Systems soared nearly 50% to a five-year high on Monday after the company agreed to supply natural-gas truck engines to Amazon s shipping fleet.
The e-commerce giant has ordered over 1,000 engines from Westport as a part of a multi-year rollout, boosting Amazon s growing truck fleet. The trucks will be supplied by a joint venture between Vancouver, Canada-based Westport and Columbus, Indiana-based Cummins Inc., a power technology company.