Shares of Westport Fuel Systems Inc. (WPRT) are rising more than 13% Thursday morning on the news of it agreeing to begin a research project with truck and bus manufacturer Scania on direct injected hydrogen engine.
The project is to apply Westport's HPDI 2.0TM fuel system with hydrogen to the latest Scania commercial vehicle engine.
Preliminary test results are expected in the second half of 2021.
"Hydrogen use in an internal combustion engine with our HPDI fuel system could offer another cost-competitive pathway to reduce CO2 emissions from transportation," said David M. Johnson, Chief Executive Officer of Westport Fuel Systems. "This exciting evolution of our patented technology could provide an economic, competitive alternative to fuel cells while providing a similar greenhouse gas emission reduction profile."
WPRT touched a new high of $8.21 this morning.
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