WESTPORT FUEL SYSTEMS Business Summary

Westport Fuel Systems Inc. (WPRT) is a global leader in alternative fuel delivery systems, primarily generating revenue through the sale of high-pressure components, engineering services, and its 55% equity interest in Cespira, a joint venture with Volvo Group. Following the strategic divestiture of its Light-Duty segment in July 2025, the company has consolidated its operations into two core pillars: Cespira, which commercializes proprietary High-Pressure Direct Injection (HPDI) technology for heavy-duty and off-road applications, and the High-Pressure Controls & Systems segment, which provides fuel-agnostic components for hydrogen and natural gas platforms. Westport competes directly with Cummins Inc., Ballard Power Systems, and Xos, Inc., positioning itself as a specialized technology provider that enables internal combustion engines to achieve diesel-like performance and efficiency using low-carbon gaseous fuels. The company was founded in 1995 by David Demers and Dr. Philip Hill, a University of British Columbia professor whose research into high-pressure natural gas combustion formed the bedrock of the firm's IP. The current leadership team is headed by CEO Dan Sceli, a 37-year manufacturing veteran appointed in January 2024, and CFO Elizabeth Owens, a seasoned finance executive who assumed the role in August 2025 after a decade with the firm. Legal and corporate development initiatives are overseen by Executive Vice President Lance Follett. As of January 2026, the Board of Directors is chaired by Tony Guglielmin, the former CFO of Ballard Power Systems, with recent appointments including financial expert Brad Kotush. The company maintains a deep strategic partnership with Volvo Group, which holds a 45% stake in the Cespira joint venture and serves as a primary OEM customer.