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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.
Westport Fuel Systems & Scania partner on direct-injected hydrogen engine research project
Westport Fuel Systems will begin a research project with Scania to apply an HPDI 2.0 fuel system with hydrogen to the latest Scania commercial vehicle engine. Preliminary test results are expected in the second half of 2021.
Our specialty is working with gaseous fuels. Hydrogen use in an internal combustion engine with our HPDI fuel system could offer another cost-competitive pathway to reduce CO
2 emissions from transportation. This exciting evolution of our patented technology could provide an economic, competitive alternative to fuel cells while providing a similar greenhouse gas emission reduction profile.