Westport fuel systems announces plan to invest up to $10 million USD in global manufacturing facility in Changzhou Hydrogen Valley, China.
Westport Fuel Systems Inc. (“Westport” or the “Company”) (TSX: WPRT / Nasdaq: WPRT), a global leader in low-emissions alternative fuel transportation technologies, announced plans to expand its global manufacturing footprint in China in support of future growth of Westport’s hydrogen componentry business and other alternative fuel system technologies.
Westport is focusing on China for this manufacturing expansion as China leads the world in hydrogen investment and infrastructure development. The investment agreement provides for the City of Changzhou to build the new hydrogen innovation center and manufacturing facility in the Changzhou Hydrogen Valley.
David M. Johnson, chief executive officer of Westport Fuel Systems, said:
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Westport’s GFI-branded hydrogen fuel system components have had a strong presence in the Chinese marketplace for over ten years, these components support both fuel cell and internal combustion engine applications that use hydrogen fuel.
“The city of Changzhou is dedicated to becoming the capital of new energy industries, making them an ideal partner for growth and providing the opportunity to establish manufacturing excellence on a regional basis, which in turn supports our global customers accelerating hydrogen as a prevailing low-emission transportation solution.”
Huan Heng, deputy mayor of Changzhou, said:
We are excited to be partnering with Westport to develop a state-of-the-art hydrogen innovation center and manufacturing facility.
“Changzhou Hydrogen Valley is an important hub in advancing hydrogen-fueled vehicles for China and the world at large. We are pleased to partner and support Westport, a global leader in hydrogen and alternative-fuel solutions, in joining our growing community of innovative technology companies, and we look forward to our shared future growth.”
Under the terms of the investment agreement, Westport and Changzhou will design and construct an ultra-modern manufacturing facility for hydrogen fuel systems, and office space specifically to meet Westport’s advanced manufacturing requirements.
The Changzhou site is expected to also include a contemporary innovation center that will provide continued focus on hydrogen solutions in support of Westport’s mission to develop innovative, specialized, and market-ready emission-reduction solutions. Westport’s plan to invest up to $10 million USD over the next ten years is intended to enable production of established hydrogen componentry to support the fast-growing hydrogen-fueled vehicles targeted to be on the road in China.
The new Westport facility is planned to be in operation in 2024 supporting Westport’s current and growing customer base with key hydrogen components for a variety of applications including commercial vehicles, buses, high-speed trains, material handling, stationary power generation and more. Westport’s investment in Changzhou is a steppingstone to continued hydrogen technology advancement around the world.
About Westport Fuel Systems
At Westport Fuel Systems, we are driving innovation to power a cleaner tomorrow. We are a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global transportation industry.
Our technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America, and South America, we serve our customers in more than 70 countries with leading global transportation brands. At Westport Fuel Systems, we think ahead. For more information, visit www.wfsinc.com.
About Changzhou City
Changzhou city is located in the center of the Yangtze River Delta. It covers an area of 4,385 square kilometers and has a population of 5.37 million. In 2022, Changzhou’s gross domestic product (GDP) reached 955 billion yuan, and its per capita GDP exceeded 26,000 US dollars. Changzhou is also a famous cultural tourism city with history and culture.
It was awarded the happiest city in China in 2022. Changzhou is an important city and advanced manufacturing base in Shanghai metropolitan area, Suzhou, Wuxi and Changzhou metropolitan area, ranking 16th among the national advanced manufacturing cities.
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Westport Announces Plan to Invest Up to $10 Million USD in Global Manufacturing Facility in Changzhou Hydrogen Valley, China, VANCOUVER, British Columbia and CHANGZHOU, China, February 27, 2023
