At the start of the regular session today, shares of Westport Fuel Systems Inc. (WPRT) fumbled under 1%. Westport stock gained 2.18% to trade at $5.15 in the premarket session. WPRT stock fell by 1.56% last trading session, finishing at $5.04. There were 1.41 million shares traded last trading session, below the average daily volume of 2.25 million shares traded over the last 50 days. In the last five days, WPRT stock has dropped -6.84%; however, it has lost -8.53% over the last month.

Over the last three months, WPRT stock prices have lost -29.11%. This year, WPRT stock prices have lost -5.44 percent. Additionally, WPRT stock is being traded at a price to earnings ratio of 148.24, while its price to sales ratio is 3.25. Since the announcement of the collaboration WPRT stock has gained momentum in premarket trading.

WPRT collaborated with whom?

Westport’s mission is to power a cleaner tomorrow through innovation. In the global automotive industry, WPRT is a leading supplier of advanced components and systems for fuel delivery of clean, low-carbon fuels including natural gas, renewable natural gas, propane, and hydrogen.

Using WPRT’s technology, transportation applications can achieve the fuel efficiency and performance they require, while addressing climate change and urban air quality challenges. As a global transportation company headquartered in Vancouver, Canada, WPRT’s global brands serve customers in more than 70 countries through operations across Europe, Asia, North America and South America.

Together, Westport, TUPY and AVL announced today that they have formed a collaboration for the development of one of the most efficient hydrogen (H2) internal combustion engines (ICEs) ever devised so far for transportation of heavy goods.

• Using high pressure direct injection technology (HPDI), the direct collaboration will combine advanced materials and casting technologies.
• TUPY is a world-leading manufacturer of high-performance structural components such as castings and machinings.
• The German company AVL is the world’s largest independent company for developing, simulating and testing automotive products.
• A joint effort between TUPY, WPRT, and AVL will be undertaken to develop an HPDI hydrogen ICE that will improve fuel efficiency and reduce fuel consumption.
• It is necessary to use superior materials, castings, and machining technologies to deal with high peak firing pressures.
• Early this year, AVL and the Graz University of Technology collaborated to develop the AVL Hydrogen Engine.
• Also, WPRT has successfully started and operated heavy-duty ICEs using HPDI on H2.
• AVL, TUPY, and WPRT plan on launching the first testbed results early in 2022.

What does WPRT gain from this collaboration?

By working with AVL and TUPY, Westport (WPRT) is demonstrating that an H2 HPDI solution is capable of meeting the performance and efficiency requirements demanded by the market, leveraging billions of dollars of existing research and development expertise available over the past century.

OEMs can get carbon-neutral technology quickly, cost-efficiently, and without sacrificing performance with hydrogen HPDI. On a proven technology platform, WPRT contends HPDI already powers thousands of trucks, helping to reduce or nearly eliminate greenhouse gases.