Westport Fuel Systems Inc. (Westport) designs, manufactures, develops, validates, certifies, and sells alternative fuel, including alternative fuels, such as hydrogen (H2), liquefied natural gas (LNG), biogas, biomethane, and renewable natural gas (collectively RNG), compressed natural gas (CNG), and liquefied petroleum gas (LPG) components and systems for passenger cars, light-, medium-, and heavy-duty commercial vehicles, and off-highway applications.
The company's portfolio of products inclu...
Westport Fuel Systems Inc. (Westport) designs, manufactures, develops, validates, certifies, and sells alternative fuel, including alternative fuels, such as hydrogen (H2), liquefied natural gas (LNG), biogas, biomethane, and renewable natural gas (collectively RNG), compressed natural gas (CNG), and liquefied petroleum gas (LPG) components and systems for passenger cars, light-, medium-, and heavy-duty commercial vehicles, and off-highway applications.
The company's portfolio of products includes pressure regulators, injectors, electronic control units, valves, and filters, as well as complete bi-fuel, mono-fuel, and dual-fuel LPG and natural gas conversion kits, and high-pressure hydrogen components. Cespira, a 55% owned joint venture (JV) with the Volvo Group, launched in 2024, is advancing the development and commercialization of the HPDI fuel system, a fully OEM-integrated solution that enables heavy-duty trucks to operate on natural gas, RNG, hydrogen, and other alternative fuels.
Business Segments
The company's diverse portfolio of technologies, products, and services are sold under a wide range of established brands. These provide the foundation for sustainable growth in existing markets and guide its expansion into new and emerging markets worldwide. The company's business is operated under the following four segments:
Cespira
In June 2024, Westport and Volvo entered into a series of joint venture agreements (collectively, the JV Agreement), establishing Cespira to promote, develop, and commercialize the HPDI fuel system technology (see Material Contracts – Joint Venture Governance Agreements). The JV will prioritize scaling the HPDI fuel system and supporting the global transition to carbon-neutral fuel systems, particularly in heavy-duty, long-haul trucking, where multiple technologies are required to achieve substantial decarbonization. Under the terms of the agreement, Westport owns a 55% equity interest in Cespira, while Volvo owns 45%. Cespira's business operations involve supplying systems, engineering services, and components, including LNG HPDI fuel system products, to engine manufacturers and commercial vehicle OEMs. The fully integrated LNG HPDI fuel systems enable diesel engines to operate predominantly on alternative fuels while delivering equivalent power, torque, and fuel efficiency as conventional compression ignition engines. The system can be a cost-effective way to reduce greenhouse gas emissions using renewable fuels such as RNG. Furthermore, the JV is engaged in adapting HPDI fuel systems for hydrogen and other alternative fuel applications in internal combustion engines.
Light-Duty
The Light-Duty segment specializes in LPG and CNG solutions, catering to OEM, delayed OEM (DOEM), and independent aftermarket (IAM) markets. Customers can choose from Westport IAM conversions, DOEM solutions, or OEM-manufactured monofuel and bi-fuel vehicles. The segment offers industry-leading direct injection engine technology that complies with EURO 7 and EPA 24 standards, along with lightweight, high-quality fuel storage solutions. The Light-Duty business serves three distinct markets:
OEM: Systems are integrated into production lines by vehicle manufacturers.
DOEM: Conversions are performed at 0 km in specialized centers operated by Westport or its partners.
IAM: Aftermarket products, including conversion kits, support post-sale conversions through an extensive dealer and installer network operating in approximately 70 countries worldwide.
High-Pressure Controls and Systems
The company's High-Pressure Controls and Systems segment is at the forefront of the clean energy revolution, designing, developing, and producing high-demand components for transportation and industrial applications. The company partners with the world's leading fuel cell, hydrogen engine, and alternative fuel engine manufacturers, as well as companies committed to decarbonizing transport, offering versatile solutions that serve a variety of fuel types. While the company believes hydrogen is key to the future decarbonization of transport, its components and solutions are already powering emission-reducing innovation today across a range of alternative fuels. Although the company is a small enterprise, its strategic position and innovative capabilities position it for significant growth, as the go-to choice for those shaping the future of clean energy, today and tomorrow.
Heavy-Duty OEM
The Heavy-Duty OEM business represents historical results from the company's heavy-duty business for the period January 1, 2024, until the formation of the Cespira joint venture, which occurred on June 3, 2024. Going forward, the Heavy-Duty OEM segment will reflect revenue earned from a transitional services agreement in place with Cespira, intended to support the JV in the short term as the organization establishes its operations.
Business Strategy
The company's strategy is to increase financial flexibility and establish the foundation required to enable it to achieve its strategic pillars through enhanced financial performance. It aims to streamline operations to enhance agility while building a world-class manufacturing system that boosts global competitiveness.
Geographical Markets Served
The company operates on a global scale, serving markets across Europe, Asia, North America, and South America.
History
The company was incorporated in 1995. It was formerly known as Westport Innovations Inc. and changed its name to Westport Fuel Systems Inc. in June 2016.
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