WPRT

Westport Regains Compliance with NASDAQ Minimum Bid Requirement

Retrieved on: 
Wednesday, June 21, 2023

VANCOUVER, British Columbia, June 21, 2023 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (“Westport” or the "Company") (TSX:WPRT / Nasdaq: WPRT), a global leader in low-emissions alternative fuel transportation technologies, announced today that it has received a Bid Price Compliance Letter from the Nasdaq Listing Qualifications Staff of the Nasdaq Stock Market LLC ("Nasdaq"), notifying the Company that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5450(a)(1) for continued listing on The Nasdaq Capital Market®.

Key Points: 
  • VANCOUVER, British Columbia, June 21, 2023 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (“Westport” or the "Company") (TSX:WPRT / Nasdaq: WPRT), a global leader in low-emissions alternative fuel transportation technologies, announced today that it has received a Bid Price Compliance Letter from the Nasdaq Listing Qualifications Staff of the Nasdaq Stock Market LLC ("Nasdaq"), notifying the Company that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5450(a)(1) for continued listing on The Nasdaq Capital Market®.
  • On June 21, 2023, Nasdaq determined that for the last 10 consecutive business days, from June 6, 2023, to June 20, 2023, the closing bid price of the Company's ordinary shares has been at $1.00 per share or greater.
  • Accordingly, the Company has regained compliance with Listing Rule 5450(a)(1), and considers this matter now closed.

Westport Announces Effective Date of Share Consolidation

Retrieved on: 
Thursday, June 1, 2023

As of the date hereof, and following the Consolidation, there are 17,174,972 Common Shares issued and outstanding.

Key Points: 
  • As of the date hereof, and following the Consolidation, there are 17,174,972 Common Shares issued and outstanding.
  • Immediately prior to the Consolidation, the Company had 171,751,409 Common Shares issued and outstanding.
  • No fractional Common Shares will be issued pursuant to the Consolidation and any fractional shares that would otherwise be issued will be rounded down to the nearest whole Common Share.
  • No action is required by non-registered shareholders (shareholders who hold their common shares through an intermediary) to receive post-Consolidation Common Shares in connection with the Consolidation.

Westport Fuel Systems Reports First Quarter 2023 Financial Results

Retrieved on: 
Monday, May 8, 2023

VANCOUVER, British Columbia, May 08, 2023 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (“Westport") (TSX:WPRT / Nasdaq:WPRT) reported financial results for the first quarter ended March 31, 2023, and provided an update on operations.

Key Points: 
  • VANCOUVER, British Columbia, May 08, 2023 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (“Westport") (TSX:WPRT / Nasdaq:WPRT) reported financial results for the first quarter ended March 31, 2023, and provided an update on operations.
  • Net loss of $10.6 million for the quarter, compared to net income of $7.7 million for the same quarter last year.
  • Cash and cash equivalents were $72.0 million at the end of the first quarter of 2023.
  • Late 2023 also marks the beginning of our LPG fuel system production and sales to our European OEM customer.

Westport Showcases its Market Ready HPDI™ Fuel System, A Single Solution for Multiple Fuels at ACT Expo 2023

Retrieved on: 
Tuesday, May 2, 2023

The vehicles will be presented beginning today through May 4, at the Advanced Clean Transportation (ACT) Expo 2023 in Anaheim, California.

Key Points: 
  • The vehicles will be presented beginning today through May 4, at the Advanced Clean Transportation (ACT) Expo 2023 in Anaheim, California.
  • Further information on the fuel system technology will be available at the Westport booth, #7084.
  • Alternative fuels used in internal combustion (IC) engines are necessary to achieve a zero-emissions transition in the next two decades.
  • “Our HPDI fuel system is a practical solution at the OEM level supported by market-available fuels when a vehicle hits the road.

Westport Fuel Systems Welcomes New Executive Vice President of Product Development and Chief Technology Officer

Retrieved on: 
Monday, May 1, 2023

VANCOUVER, British Columbia, May 01, 2023 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (“Westport” or the “Company”) (TSX: WPRT / Nasdaq: WPRT), a global leader in low-emissions alternative fuel transportation technologies, today announced the appointment of Fabien G. Redon as the company’s chief technology officer (CTO) and executive vice president of product development.

Key Points: 
  • VANCOUVER, British Columbia, May 01, 2023 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (“Westport” or the “Company”) (TSX: WPRT / Nasdaq: WPRT), a global leader in low-emissions alternative fuel transportation technologies, today announced the appointment of Fabien G. Redon as the company’s chief technology officer (CTO) and executive vice president of product development.
  • In this role, Redon will report directly to David M. Johnson, the company’s chief executive officer.
  • As chief technology officer and executive vice president, Redon will be responsible for developing and delivering clean alternative fuel systems products from concept to customers in the global transportation and off-road markets while effectively implementing global integration strategies to optimize resource utilization worldwide.
  • “Fabien brings a wealth of technical leadership experience to Westport that is ideal for continued advancement of innovation and technology while driving efficiencies,” said David M. Johnson, chief executive officer of Westport Fuel Systems.

Westport Receives Nasdaq Notification Regarding Minimum Bid Price Compliance and Announces Board of Director Approval of Share Consolidation

Retrieved on: 
Wednesday, April 26, 2023

The Company also announced that the Board has approved a consolidation of the Company’s issued and outstanding common shares at a consolidation ratio of 10-for-1 (the “Share Consolidation”).

Key Points: 
  • The Company also announced that the Board has approved a consolidation of the Company’s issued and outstanding common shares at a consolidation ratio of 10-for-1 (the “Share Consolidation”).
  • The Notification has no immediate impact on the listing of the Company’s common shares, which will continue to trade on the Nasdaq.
  • To regain compliance, the Company's ordinary shares must have a closing bid price of at least US$1.00 for a minimum of 10 consecutive business days.
  • Westport’s board of directors has approved a Share Consolidation of the Company's issued and outstanding common shares on a ten-to-one (10:1) basis.

Westport to Issue First Quarter 2023 Financial Results on Monday, May 8, 2023

Retrieved on: 
Wednesday, April 19, 2023

VANCOUVER, British Columbia, April 19, 2023 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (TSX: WPRT / Nasdaq: WPRT) announced today it will release financial results for the first quarter of 2023 on Monday, May 8 after market close.

Key Points: 
  • VANCOUVER, British Columbia, April 19, 2023 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (TSX: WPRT / Nasdaq: WPRT) announced today it will release financial results for the first quarter of 2023 on Monday, May 8 after market close.
  • A conference call and webcast to discuss the financial results and other corporate developments will be held on Tuesday, May 9, 2023.
  • To access the conference call replay, please dial 1-800-319-6413 (Canada & USA toll-free) or 1-604-638-9010 using the passcode 0003.
  • The telephone replay will be available until May 16, 2023.

Westport Files Replacement Preliminary Short Form Base Shelf Prospectus

Retrieved on: 
Friday, April 14, 2023

VANCOUVER, British Columbia, April 14, 2023 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (TSX: WPRT / Nasdaq: WPRT) announces it has filed a preliminary short form base shelf prospectus (once filed in final form and received by the relevant Canadian securities regulatory authorities, the “Shelf Prospectus”) with the securities commissions in each of the provinces and territories of Canada.

Key Points: 
  • VANCOUVER, British Columbia, April 14, 2023 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (TSX: WPRT / Nasdaq: WPRT) announces it has filed a preliminary short form base shelf prospectus (once filed in final form and received by the relevant Canadian securities regulatory authorities, the “Shelf Prospectus”) with the securities commissions in each of the provinces and territories of Canada.
  • The Company’s current base shelf prospectus and corresponding shelf registration statement expires on April 16, 2023.
  • The Shelf Prospectus, when made final, will allow Westport to offer up to USD$200,000,000 of common shares, preferred shares, subscription receipts, warrants, options or any combination thereof during the 25-month period that the Shelf Prospectus will be effective.
  • A copy of the preliminary short form base shelf prospectus can be found on SEDAR at www.sedar.com.

Westport Publishes 2022 Annual and Special Meeting Results

Retrieved on: 
Thursday, April 6, 2023

VANCOUVER, British Columbia, April 06, 2023 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (“WFS” or the “Company”) (TSX:WPRT / Nasdaq:WPRT) today held its Annual and Special Meeting of Shareholders (the “Meeting”) in a virtual format.

Key Points: 
  • VANCOUVER, British Columbia, April 06, 2023 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (“WFS” or the “Company”) (TSX:WPRT / Nasdaq:WPRT) today held its Annual and Special Meeting of Shareholders (the “Meeting”) in a virtual format.
  • Shareholders approved all resolutions presented at the meeting including the election of all nominated directors, the appointment of KPMG LLP as the Company’s auditors, an advisory Say-on-Pay vote and approval for board discretion to initiate a share consolidation.
  • A summary of the results are as follows:

Westport Signs Third Global Heavy-Duty OEM Collaboration Agreement to Demonstrate H2 HPDI™ Fuel System on IC Engine Platform

Retrieved on: 
Monday, March 6, 2023

VANCOUVER, British Columbia, March 06, 2023 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (“Westport” or the “Company”) (TSX: WPRT / Nasdaq: WPRT), a global leader in low-emissions alternative fuel transportation technologies, today announced its collaboration with a global original equipment manufacturer (OEM) to evaluate the performance, efficiency and emissions of the OEM’s engine equipped with Westport’s H2 HPDI fuel system.

Key Points: 
  • VANCOUVER, British Columbia, March 06, 2023 (GLOBE NEWSWIRE) -- Westport Fuel Systems Inc. (“Westport” or the “Company”) (TSX: WPRT / Nasdaq: WPRT), a global leader in low-emissions alternative fuel transportation technologies, today announced its collaboration with a global original equipment manufacturer (OEM) to evaluate the performance, efficiency and emissions of the OEM’s engine equipped with Westport’s H2 HPDI fuel system.
  • This collaboration marks Westport’s third major OEM engagement evaluating its H2 HPDI fuel system to date.
  • Westport’s production HPDI system fueled with LNG and bioLNG is a mature and proven commercialized platform, providing a solid foundation to develop the hydrogen-fueled version of the HPDI system.
  • This collaboration is designed to demonstrate that Westport’s H2 HPDI fuel system is a cost-effective solution that delivers dramatic CO2 abatement while achieving power, torque, and efficiency that exceeds the performance of a diesel engine.