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Westport Joins Forces with Transportation and Energy Partners to Demonstrate ICE Hydrogen-Powered Transport in Sweden

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H2 HPDI™ Fuel System-Equipped Truck Operated by Heavy Hauler, KAJ Inrikes, Transports Trailer in Älmhult

VANCOUVER, BC, Dec. 12, 2023 /PRNewswire/ –Westport Fuel Systems Inc. (“Westport” or the “Company”) (TSX: WPRT) (Nasdaq: WPRT), a leading supplier of advanced alternative fuel systems and components for the global transportation industry, today announced the successful completion of a heavy transport demonstration with KAJ Inrikes and others, of its H2 HPDI™ fuel system-equipped prototype truck hauling a trailer filled with IKEA home-furnishing products in Älmhult, Sweden. This is the second validation of the H2 HPDI system in a heavy haul application with a major fleet in the last 60 days1 and represents an important step in accelerating decarbonization in the heavy-duty transport industry.

During the event, the complete hydrogen ecosystem was represented, including green hydrogen production; hydrogen filling stations; Westport’s unique HPDI technology; vehicle manufacturers; fleet operators; and the end user, IKEA, as a buyer of sustainable transportation services.

Ola Henriksson, senior product manager at Scania, commented, “We had a great day participating in the showcasing of the Westport H2 HPDI fuel system technology and are appreciative of this collaborative initiative, and the hospitality of KAJ Inrikes and the surrounding players in the hydrogen ecosystem.” He continued, “Scania is staying true to its purpose of driving the shift towards more sustainable transport systems, and the technology of using hydrogen in the internal combustion engine is an interesting decarbonization pathway because it represents an attractive solution with high maturity and quick time to market.”

The collaboration between Westport and key transportation and energy partners includes:

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  • KAJ Inrikes, fleet operator, a “green-focused” haulage company, performing transport for IKEA and other key customers in the Älmhult and Jönköping area.
  • Smålandslogistik, large fleet owner, a long haulage and distribution company, that has identified the environment and decarbonization as important areas where they can contribute meaningful impact through their daily business.
  • Metacon AB, hydrogen fuel provider, a Sweden-based supplier of energy technology, including electolyzers and reformers for refining biogas into fossil-free hydrogen.
  • Hydri AB, hydrogen infrastructure company, building and operating a complete network of green hydrogen refueling stations in Sweden.

Westport’s H2 HPDI fuel system for internal combustion engines results in a robust and affordable solution with higher power and torque than the same engine running on diesel fuel. Moreover, the European Commission has recommended a definition of a Zero Emission Vehicle as part of the upcoming HD CO2 regulation; Westport expects H2 HPDI-powered vehicles to meet this ZEV definition for a range of heavy-duty commercial vehicles. In this collaborative effort, the Westport HPDI fuel system-equipped truck operating on hydrogen pulled a trailer filled with approximately 40 tons of IKEA home-furnishing products, demonstrating the high performance of the IC hydrogen engine.

Kaj Johansson, president of KAJ Inrikes, commented, “As the first heavy transport hauler in Sweden to be Euro VI compliant, we take emissions reduction very seriously. We are pleased to have participated in this demonstration as it illustrates our commitment to IKEA, and all our customers, to support their transport decarbonization goals.” He continued, “Westport’s H2 HPDI fuel system is an affordable and efficient technology because it keeps the current driveline and compression ignition engine platform while delivering the high performance we need at low cost for decarbonization in long-haul trucking.”

“Heavy hauling is recognized as amongst the most challenging applications within transportation to decarbonize. These heavy transport fleets require sustainable technologies that are viable for their operations as well as practical and affordable for today’s market,” said Anders Johansson, vice president, Heavy-Duty OEM for Westport Fuel Systems. “We are encouraged to see a global retail giant such as IKEA field testing our H2 HPDI prototype truck as part of its decarbonization continuum, experiencing for themselves the robustness of the system and its real-life benefits.”  

“We are happy to dedicate one of our lanes, operated by KAJ Inrikes, to test the hydrogen-powered vehicle,” said Michal Silhacek, category land manager, IKEA Supply Chain Operations. “We look forward to exploring the possible role of this technical solution in our future zero-emission transportation.”

“The Westport H2 HPDI technology left us very impressed,” commented Nicklas Svensson, senior manager at Smålandslogistik. “Its high efficiency, powerful performance, and the potential of long-range operations is a very attractive solution. Our confidence is bolstered by its foundation on a traditional powertrain, ensuring minimal investment in new workshop facilities. Additionally, the adaptability of the system to biogas is a significant advantage, aligning with our vision of fuel self-sufficiency because we can utilize local biomass and excess electricity, transforming them into fuel for our truck fleet.”

Christer Wikner, president and CEO of Metacon, commented, “It was great to see Westport’s technology in action today. This means that hydrogen can now power heavy-duty vehicles and deliver higher efficiency, power, and torque than the corresponding diesel engine. The introduction of high-performance internal combustion engines for hydrogen will be able to accelerate the transformation of the transport sector without customers having to adapt to any real change other than the fuel used in their trucks.”

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Westport’s technology enables heavy-duty vehicles to be powered by green hydrogen in an internal combustion engine and this is a milestone that is in line with Hydris’ ongoing rollout of Sweden’s largest network of hydrogen stations,” said Peter Enå, CEO of Hydri AB. “We are excited to contribute to a transition where high-performance hydrogen-powered vehicles become the norm, and Westport’s progress confirms that we’re on the right track. Together, we are strengthening the foundation upon which to build a sustainable transport sector.”

About Westport Fuel Systems

At Westport, we are driving innovation to power a cleaner tomorrow. We are a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global transportation industry. Our technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America, and South America, we serve our customers in more than 70 countries with leading global transportation brands. At Westport, we think ahead. For more information, visit www.wfsinc.com.

About KAJ Inrikes AB

KAJ Inrikes AB is based in Älmhult and conducts haulage operations with a focus on transport for IKEA, including deliveries from the distribution centers in Älmhult and Torsvik to the department stores in Malmö, Helsingborg, Älmhult, Kalmar, Gothenburg, Uddevalla, Karlstad, Örebro and Västerås. Deliveries to the distribution centers from IKEA’s suppliers are also a key transport initiative of the company. Visit kajinrikes.es for more information.

About Metacon AB

Metacon AB is an international energy technology company commercializing energy systems for the production of hydrogen, electricity, and heat. Metacon was established in 2011 and is based in Uppsala, Sweden. Metacon offers large scale electrolyzer systems and also develops and holds patented technology for cost-effective and electricity independent production of green hydrogen from biogas or other hydrocarbons such as ethanol, through compact catalytic reforming systems. Metacon serves the transport sector, heavy industry, and real estate markets, providing innovative products and solutions designed to positively influence the environment and climate. Read more about Metacon.

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About Hydri

Hydri, an infrastructure company based in Göteborg, Sweden, is a hydrogen refueling company addressing the transport industry. Hydri is establishing the first and largest green hydrogen station network in Sweden to be rolled out from 2024 onward. Visit hydri.co for more information.

Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable securities laws (“forward looking statements”). Forward looking statements are frequently characterized by words such as “expect”, “intend”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements made in this press release include statements regarding the timing and commitment to decarbonize the heavy-duty transport sector and the potential utilization of the H2 HPDI technology, and the performance, characteristics, and cost effectiveness of such. These forward-looking statements are neither promises nor guarantees but involve known and unknown risks and uncertainties and are based on both the views of management and assumptions that may cause Westport’s actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activities, performance or achievements expressed in or implied by these forward-looking statements. These risks, uncertainties and assumptions include those related to the timing and commitment to decarbonize the heavy-duty transport sector and the potential utilization of the H2 HPDI technology, the pricing and availability of hydrogen as a transportation fuel, our ability to address technological challenges, governmental policies and regulation, as well as other risk factors and assumptions that may affect our actual results, performance or achievements or financial position that are described in Westport’s continuous disclosure filings available under Westport’s SEDAR profile at www.sedar.com and under Westport’s EDGAR profile at www.sec.gov. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they were made. Westport disclaims any obligation to publicly update or revise such statements to reflect any change in its expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in these forward-looking statements except as required by law.

Contacts: Westport Media Relations, NA T: +1 947-339-8097, EUROPE T: +39 337-144-8438, E: [email protected]; Westport Investor Relations, T: +1 604-718-2046, E: invest@wfsinc.com

On November 29, 2023, a cold winter day in Älmhult, Sweden, transportation and energy partners successfully completed a heavy transport demonstration utilizing Westport's H2 HPDI™ fuel system-equipped prototype truck pulling a trailer filled with IKEA home-furnishing products. The truck was hauled by KAJ Inrikes with support from key companies representing the entire hydrogen ecosystem. Photo Credit to Göran Rosengren/Tidningen Proffs

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Invitation to presentation of EQT AB’s Q1 Announcement 2024

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STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.

The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.

To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.

The webcast can be followed live here and a recording will be available afterwards.

Information on EQT AB’s financial reporting

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The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.

The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]

Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334

This information was brought to you by Cision http://news.cision.com

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https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826

The following files are available for download:

https://mb.cision.com/Main/87/3956826/2712771.pdf

Invitation to presentation of EQT AB’s Q1 Announcement 2024

https://news.cision.com/eqt/i/eqt-ab-group,c3285895

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EQT AB Group

 

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Kia presents roadmap to lead global electrification era through EVs, HEVs and PBVs

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  • Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
  • Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
  • Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
    • Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
    • PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
  • Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
  • 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
  • CEO reaffirms Kia’s commitment to ESG management

SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.

Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.

During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.

The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.

“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”

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BioVaxys Technology Corp. Provides Bi-Weekly MCTO Status Update

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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.

As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.

The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.

Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.

About BioVaxys Technology Corp.

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BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.

ON BEHALF OF THE BOARD

Signed “James Passin
James Passin, Chief Executive Officer
Phone: +1 646 452 7054

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