Skip to comments.Westport Acquires Clean Energy’s Natural Gas Vehicle Business ...
Posted on 06/28/2013 5:06:58 PM PDT by shove_it
Westport Innovations Inc. (WPT.TO) (WPRT), the global leader in natural gas engines, today announced that it has acquired BAF Technologies, Inc. (BAF) and its subsidiary, ServoTech Engineering, Inc. (ServoTech), subsidiaries of Clean Energy Fuels Corp. (CLNE) for $25 million in Westport stock. Westport and Clean Energy also announced a $5 million joint marketing and sales program.
Westport believes that the amalgamation will create the largest product portfolio and largest market presence in the North American light duty natural gas vehicle (NGV) space. Specifically, Westport secures its position as Fords largest partner under the Qualified Vehicle Modifier (QVM) program with over 10 products and approximately 150 Ford authorized dealerships. The transaction allows both Westport and Clean Energy to focus on the significant growth opportunities as natural gas emerges as a global fuel for transportation...
(Excerpt) Read more at finance.yahoo.com ...
this might have a shot, given they have Ford involved. if not for regular drivers, possibly commercial’vehicles.
Some day if/when these two companies start making money, a big fish like GE will come along and buy them out.
Yeah; and GE will do it with Taxpayer money, too! LOL
I’m a believer in natgas fuel for transportation but it’s just taking too long. These companies need stronger backing to promote it in the trucking and auto sectors. Cummins backs WPRT somewhat but what’s needed is for a Chevron or GE to get on board and really get it going. It’s clear that after many attempts by Boone Pickens to get fed govt support, that’s not gonna happen. These little companies are just limping along.
From the Motley Fool 1 Jul 2013 ...
Foolish bottom line
Ford and Westport shares have performed very well in a strong market year to date, while Clean Energy shares have lagged the S&P 500 (though a nearly 6% increase isn’t too shabby.) While Ford’s global dominance and long-term success won’t give shareholders the upside of Clean Energy and Westport, its predictable profitability (and 2.5% dividend yield) is worth a long-term investment look.
If you’re looking to catch onto the explosive potential in natural gas as a fuel for transportation, the conversation for many begins — and ends — with Westport and Clean Energy. And while I am watching closely for huge growth in the second half of 2013 for both companies, there’s no such thing as a sure bet. Start a small position and watch closely before adding to it. The most wise investing words I’ve ever heard apply here: “If it’s as big as we hope, I won’t need much. If it’s not, I won’t want much.”
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