Westport has announced the signing of an investment agreement with Volvo Group to establish a joint venture (JV)which aims to accelerate the commercialisation and global adoption of Westport’s high pressure direct injection (HPDI) fuel system technology for long-haul and off-road applications.
Under the tersm of the new JV Westport will contribute certain HPDI™ assets and opportunities, including fixed assets, intellectual property, and business, while Volvo Group will acquire a 45% interest in the JV for approximately US$28 million.
Wesport’s HPDI (High-Pressure Direct Injection) system offers truck builders a cost-effective means to reduce co2 emissions in long-haul trucking and other high-load, off-road applications. The fuel system enables the manufacturers to run their trucks on alternative fuels, while maintaining compatibility with conventional diesel-fueled products. The system allows the replacement of greenhouse gas-emitting fuels with carbon-neutral or zero-carbon alternatives like biogas or hydrogen without compromising durability, affordability, efficiency, or performance, says Westport.
