VANCOUVER, May 18, 2012 /CNW/ - Westport Innovations Inc. (TSX:WPT)
(NASDAQ:WPRT), the global leader in natural gas engines, today
announced that Volvo Trucks today unveiled its plans to launch a 13
liter heavy-duty natural gas engine featuring Westport™ high pressure
direct injection (HPDI) technology. The product is scheduled to launch
for the North American market in 2014.
"The partnership with the Volvo Group is an important product
development program and will help meet the increasing demand for
natural gas engines and vehicles in the heavy-duty market." said David
Demers, CEO of Westport Innovations.
As previously disclosed in a press release dated February 27, 2012,
under the terms of the agreement, each partner will contribute
significant resources and pay for its own people and costs of the
program. Westport will lead the program. When the product is launched,
Westport will supply its HD system components for an agreed upon amount
per engine, comparable to other such arrangements previously announced.
About Westport Innovations Inc.
Westport Innovations Inc. is a leading global supplier of proprietary
solutions that allow engines to operate on clean-burning fuels such as
compressed natural gas (CNG), liquefied natural gas (LNG), hydrogen,
and renewable natural gas (RNG) fuels such as landfill gas and helps
reduce greenhouse gas emissions (GHG). Westport technology offers
advanced LNG fueling systems with direct injection natural gas engine
technology for heavy-duty vehicles such as highway trucks and off-road
applications such as mining and rail. Westport's joint venture with
Cummins Inc., Cummins Westport Inc. designs, engineers and markets
spark-ignited natural gas engines for North American transportation
applications such as trucks and buses. Westport LD division is one of
the global leaders for natural gas and liquefied petroleum gas (LPG)
fuel in passenger cars, light-duty trucks and industrial applications
such as forklifts. To learn more about our business, visit our website
or subscribe to our RSS feed at www.westport.com, or follow us on Twitter @WestportDotCom.
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future performance. In particular, this press release contains
forward-looking information which includes statements regarding the
launch date for the Volvo 13 liter heavy-duty natural gas engine in the
North American market, demand for our products, the future success of
our business and technology strategies, intentions of partners and
potential customers, the performance and competitiveness of our
products and expansion of product coverage and future market
opportunities. These statements are neither promises nor guarantees,
but involve known and unknown risks and uncertainties and are based on
assumptions that may cause our actual results, levels of activity,
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growth, operating results, industry and products, the general economy,
conditions of and access to the capital and debt markets, governmental
policies and regulation, technology innovations, fluctuations in
foreign exchange rates, the availability and price of natural gas,
global government stimulus packages, the acceptance of and shift to
natural gas vehicles in fleet markets, the relaxation or waiver of fuel
emission standards, the inability of fleets to access capital or
government funding to purchase natural gas vehicles, the development
of competing technologies as well as other risk factors and assumptions
that may affect our actual results, performance or achievements or
financial position discussed in our most recent Annual Information Form
and other filings with securities regulators. Readers should not place
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actual results will differ from those set forth in the forward- looking
statements except as required by National Instrument 51-102. The
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press release are not incorporated by reference herein.
<p> <b>Inquiri</b><b>es:</b><br/> Darren Seed<br/> Vice President, Investor Relations & Communications<br/> Westport Innovations Inc.<br/> Phone: 604-718-2046<br/> Email: <a href="mailto:invest@westport.com">invest@westport.com</a> </p>