Westport

2026-07-02 12:56:24 ET

?Investor Insight

Westport is advancing the decarbonization of heavy-duty transportation through proven alternative fuel technologies that deliver diesel-equivalent performance with lower emissions. Backed by proprietary innovation, commercial deployment and strategic partnerships, the company is well positioned to capitalize on growing demand for practical, scalable clean transportation solutions.

?Overview

Westport (NASDAQ:WPRT,TSX:WPRT) develops advanced fuel systems and components that enable internal combustion engines to operate on lower-carbon fuels without compromising the performance required by heavy-duty transportation. Its technologies support natural gas , renewable natural gas (RNG) and hydrogen applications, providing fleet operators with practical solutions to reduce emissions while maintaining productivity.

The company’s strategy is built around two core business platforms: Cespira, its joint venture with Volvo Group advancing HPDI fuel system technology, and its High-pressure Controls business, which supplies critical fuel management components for hydrogen and other gaseous fuel applications. Together, these businesses position Westport to address today’s growing demand for alternative fuel solutions while positioning the company for the longer-term adoption of hydrogen as transportation infrastructure continues to evolve.

Market conditions continue to strengthen as fleet operators seek practical decarbonization solutions that maintain operational performance while improving fleet economics. Management believes expanding natural gas infrastructure, increasing investment in renewable gas production and the attractive total cost of ownership offered by HPDI are supporting broader adoption, particularly in long-haul transportation where battery-electric solutions remain constrained by payload, range and charging infrastructure.

Westport continues to strengthen its commercial and financial position through technology innovation, operational excellence and strategic partnerships. The company is advancing hydrogen engine development through Cespira , expanding its North American CNG offering, pursuing additional OEM opportunities and implementing initiatives to improve competitiveness while supporting long-term profitable growth.

?Core Business Platforms

Cespira (HPDI Technology)

Cespira is Westport’s joint venture with Volvo Group and the commercial home of the HPDI technology. Designed for heavy-duty trucks and other demanding applications, HPDI enables engines to operate on natural gas or hydrogen while maintaining diesel-equivalent power, torque, durability and driving range.

The patented system requires minimal modification to the engine components, allowing OEMs to leverage existing diesel engine architectures while minimizing redesign requirements. Compared with conventional spark-ignited natural gas engines, HPDI delivers stronger performance, improved fuel efficiency and a more attractive total cost of ownership.

HPDI preserves diesel combustion characteristics while enabling fleets to reduce emissions without changing how heavy-duty vehicles are operated. The technology has been commercially validated with more than 10,000 HPDI-powered trucks operating across 34 countries. Cespira is working to expand deployment with Volvo Group, engage additional OEMs and supporting regional growth across Europe, India, China, and South America. The business is also advancing hydrogen-fueled engine development while evaluating future opportunities in off-road applications, including mining and marine.

High-pressure Controls

Westport’s High-pressure Controls business designs, develops and manufactures critical fuel management components supporting hydrogen and other gaseous fuel applications across transportation and industrial markets. Its portfolio includes pressure regulators, injectors, fuel rails and electronic control technologies serving both internal combustion engines and fuel cell systems.

Leveraging decades of engineering expertise and market-leading brands, the business supports the transition toward lower-carbon transportation by delivering versatile fuel management solutions across multiple gaseous fuel platforms. Westport is also expanding its North American offering through a high-pressure CNG fuel storage solution designed to complement HPDI technology and support broader fleet adoption.

?Management Team

Dan Sceli — Chief Executive Officer

Dan Sceli was appointed chief executive officer in January 2024 following a distinguished 37-year career in global manufacturing. He is leading Westport’s strategic focus on commercializing HPDI technology, strengthening global partnerships and positioning the company for long-term growth in clean transportation.

Elizabeth Owens — Chief Financial Officer

Elizabeth Owens brings more than 20 years of finance leadership experience across automotive, telecommunications, aviation and chemical manufacturing. Having spent the past decade with Westport, she oversees the company’s financial strategy and brings extensive expertise in finance, accounting, tax, mergers, acquisitions and divestitures.

Ashley Nuell — Vice President, Investor Relations

Ashley Nuell joined Westport in 2022 and has approximately 20 years of investor relations experience across the energy sector. She leads investor engagement and corporate communications as Westport advances its commercialization strategy and long-term growth initiatives.