Westport Announces $6.5 Million Milestone Payment From Light-Duty Divestiture

Core Viewpoint - Westport Fuel Systems has successfully received a milestone payment of $6.5 million as part of its divestiture of the Light-Duty segment, which enhances its cash position and supports ongoing operations and strategic initiatives [1][2]. Group 1: Financial Impact - The company received $6.5 million (Euro 5.5 million) as part of the sale of its Light-Duty segment, which was triggered by achieving a defined post-closing milestone [1]. - This interim payment is expected to strengthen Westport's cash position, allowing for support of ongoing operations and strategic initiatives [2]. Group 2: Strategic Focus - Westport remains disciplined in executing the remaining elements of the divestiture process while also focusing on operational efficiency improvements [2]. - The company is committed to connecting synergistic technologies to promote cleaner energy solutions, emphasizing its role as a leading supplier of alternative fuel systems [3][4]. Group 3: Technological Commitment - Westport's technologies support a variety of clean fuels, including natural gas, renewable natural gas, and hydrogen, enabling OEMs and commercial transportation industries to meet performance demands and regulatory requirements [4]. - The company aims to help partners achieve sustainability goals without compromising performance or cost-efficiency [4].