Here’s everything potential investors in WRPT stock need to know about the deal and the company.
- Westport Fuel Systems is going to supply Amazon with natural gas engines.
- These engines will be used in the e-commerce company’s delivery fleet.
- This fleet is made up of trucks that transport goods between its warehouses and distribution centers.
- The deal comes as Amazon progresses toward its goal of net-zero carbon emissions by 2040.
- It’s worth noting that Amazon is looking to invest in electric and natural gas alternatives to reach this goal.
- The company has already purchased over 700 natural gas trucks.
- Westport Fuel Systems is a designer and manufacturer of natural gas engine parts.
- The company currently does business in more than 70 countries and partners with major brands.
- Its base of operations is located in Vancouver, Canada.
- The company was founded in 1995 and joined the public market in 2008.
- WPRT is led by CEO and Board member David Johnson.
- Johnson has a 25-year history in the field of engine development, which includes previously working for Ford (NYSE:F) and General Motors (NYSE:GM).
- WPRT stock is seeing heavy trading today with some 14 million shares having changed hands.
- That’s a hefty jump from its daily average trading volume of 3.9 million shares.
WPRT stock was up 45.1% as of Monday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.