VANCOUVER, BC, June 25, 2024 /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, is pleased to publish its 2023 Environmental, Social and Governance (“ESG”) report (the “2023 ESG Report”). The 2023 ESG Report outlines the Company’s accomplishments within its primary areas of focus that include reduced emissions and energy consumption, operational health and safety, diversity, equity and inclusion, responsible sourcing, human rights, and ESG governance.

“We are committed to shaping a future that is driven by the three pillars of ESG – environmental stewardship, social responsibility, and strong governance,” said Dan Sceli, Chief Executive Officer of Westport. “We have embraced the challenge of achieving sustainable operations, with an unwavering dedication to our core values of integrity, respect, and perseverance. We are focused on decarbonizing transportation to help clean our air and create a more sustainable future for all.”

Highlights of the 2023 ESG Report include:

• >90% of total waste recycled from production sites,
• 20% reduction in Scope 1 CO₂ emissions,
• 7% decrease in Scope 2 emissions,
• disclosure of Scope 3 GHG emissions
• 32% of our global workforce is female, and
• won two prestigious national awards – the Friendly Workplace recognition at the plant in Poland and the Award for Excellence at the facilities in Italy.

Westport, with a significant portion of its business located in Europe, is actively working on the implementation of the Corporate Sustainability Reporting Directive (CSRD). This initiative marks a significant step forward in the Company’s commitment to advancing ESG goals. By adopting the CSRD standards, Westport aims to enhance transparency, accountability, and sustainability in our operations, reinforcing dedication to responsible business practices and long-term value creation for all our stakeholders.

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.

Advertisement

Contacts: Westport Media Relations, T: + 1 604-718-1992, E: [email protected]; Westport Investor Relations, T: +1 604-718-2046, E: [email protected]

Logo – https://mma.prnewswire.com/media/2444396/Westport_Fuel_Systems_Inc__Westport_Fuel_Systems_Publishes_2023.jpg

View original content:https://www.prnewswire.co.uk/news-releases/westport-fuel-systems-publishes-2023-esg-report-302182282.html

Funding Supports LanzaJet Global Growth and Establishes MUFG’s Interest in Sustainable Aviation Fuel

CHICAGO, June 25, 2024 /PRNewswire/ — LanzaJet, a leading sustainable fuels technology company and sustainable fuels producer, today announced an investment from MUFG, one of the world’s leading financial groups with total assets of approximately $2.9 trillion. The investment enables LanzaJet to continue building its capability and capacity to deploy its proprietary ethanol to sustainable aviation fuel (SAF) process technology.

“We continue to build a leading team of investors along the SAF value chain who believe in LanzaJet’s ability to decarbonize aviation, which will both address climate change and enable the global economy,” said Jimmy Samartzis, Chief Executive Officer of LanzaJet. “The investment from MUFG further enables LanzaJet’s efforts to scale SAF production, with one of the world’s leading financial groups enabling the development of infrastructure globally.”

MUFG’s investment is part of LanzaJet’s current $100 million growth equity funding round, with support from leading companies across industries and around the world. In the last few months, LanzaJet has announced investments from Southwest Airlines, Microsoft, Groupe ADP, and now MUFG. While SAF production continues to scale, LanzaJet maintains its role in developing the industry by continuing its work building the ecosystem required to decarbonize aviation through SAF. LanzaJet continues to be at the forefront by commercializing its next generation ethanol-to-SAF technology and opening its fully-funded LanzaJet Freedom Pines Fuels biorefinery – the world’s first commercial-scale ethanol-to-SAF plant. Located in the United States, the historic plant will produce SAF and renewable diesel from low-carbon and sustainable ethanol and achieve International Sustainability and Carbon Certification (ISCC).

“MUFG is deeply committed to redefining the future of finance by prioritizing innovative and sustainable industry solutions. Our strategic support for LanzaJet is a prime example of this commitment, signifying our belief in the critical role of sustainable fuels for the economic and environmental well-being of the businesses we serve,” said Koichiro Oshima, Managing Executive Officer, Head of Financial Solutions Group, MUFG Bank, Ltd. “This partnership not only aligns with our mission to drive progress but also showcases our dedication to catalyzing positive change. By investing in sustainable pathways, we aim to ensure the resilience and success ofour stakeholders, paving the way for a more sustainable and prosperous future for all.”

Advertisement

In addition to MUFG, LanzaJet’s portfolio of investors and funders includes All Nippon Airways (ANA), Breakthrough Energy, British Airways, Groupe ADP, LanzaTech, Microsoft’s Climate Innovation Fund, Mitsui & Co., Shell, Southwest Airlines, and Suncor Energy.

ABOUT LANZAJET
LanzaJet is a leading sustainable fuels technology company dedicated to accelerating the clean energy transition. As a Sustainable Aviation Fuel (SAF) technology provider and producer with patented ethanol-based alcohol-to-jet (ATJ) technology, LanzaJet is creating an opportunity for future generations by catalyzing the deployment of SAF and other clean energy critical to addressing the climate crisis and transforming the global economy. Further information is available at https://www.lanzajet.com/

ABOUT MUFG

Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,100 locations in more than 40 countries. MUFG has nearly 120,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to be “the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges.

Logo – https://mma.prnewswire.com/media/2447793/LJ_MUFG_Logo.jpg

Advertisement

View original content:https://www.prnewswire.co.uk/news-releases/lanzajet-announces-strategic-investment-from-mufg-japans-leading-financial-group-302182088.html

GUANGZHOU, China, June 25, 2024 /PRNewswire/ — Highest Performances Holdings Inc. (“HPH” or the Group, NASDAQ: HPH), announces that its Puyi Fund’s assets under advice for its asset allocation services reached RMB 24.7 billion as of June 21, 2024, reflecting a remarkable year-on-year growth of 188%. This substantial increase in scale showcases significant growth for the fund.

This accomplishment is primarily attributed to the Puyi Fund’s service philosophy, “long-term commitment to clients and clients’ long-term benefits,” introduced in 2023, as well as the ongoing efforts of the Company in adjusting its product strategy and embracing digital transformation. On one hand, the Company implemented a comprehensive family wealth management account system, redirecting its flagship products towards fixed-income funds and fund portfolios to enhance clients’ perception of wealth acquisition. On the other hand, the Company has elevated its overall service standard through digital transformation, greatly improving the client’s investment experience.

Transforming Product Strategy to Maximize Client Returns

In relation to product strategy transformation, Puyi Fund offers investors a comprehensive solution for managing their family wealth through a scientific approach. This solution guides investors in allocating their investment assets across three types of accounts: Flexible Withdrawal Accounts, Stable Appreciation Accounts, and High-Yield Pursuit Accounts. By considering various market conditions and cycles, investors can make informed decisions on how to distribute their funds among these accounts through a scientific approach for achieving risk mitigation, consistent asset growth, and long-term sustainable investment returns.

Taking into account the prevailing market conditions in China, Puyi Fund advises investors to allocate 25% to 90% of their funds to Stable Appreciation Accounts, depending on their risk tolerance. These accounts primarily involve investing in fixed-income funds, providing investors with consistent and reliable expected returns. By employing the stable appreciation strategy, Puyi Fund aims to restore investors’ confidence in the market, leading to increased trust and recognition. Consequently, Puyi Fund has experienced a period of rapid growth and positive development.

Advertisement

An analysis of data from the Chinese mutual fund market highlights the alignment of Puyi Fund’s client-centric product strategy transformation with market demands. According to Wind data, the market value of the Chinese mutual fund market stood at RMB 25.45 trillion at the end of 2021. By the end of May 2024, this amount grew to RMB 29.09 trillion, representing an increase of RMB 3.64 trillion or 14.30%. The value of equity and hybrid funds, however, experienced a decline from RMB 8.54 trillion to RMB 6.34 trillion, marking a decrease of RMB 2.21 trillion. In contrast, bond funds and money market funds collectively witnessed a significant increase of RMB 5.69 trillion. These market trends suggest that Chinese fund investors are shifting their risk preferences towards lower-risk and higher-certainty assets. Puyi Fund’s strategic transformation is well-positioned to take advantage of this evolving trend.

Enhancing Digital Service Innovation with a Focus on Client Service

In its digital transformation efforts, Puyi Fund places a strong emphasis on “client-centricity” and “service excellence”. By harnessing the power of big data, algorithm mining, and the Sensor Intelligent System, Puyi Fund establishes personalized service scenarios tailored to the unique needs of thousands of individuals. Through meticulous operations that cover the full client lifecycle, Puyi Fund offers full-scope online transactions for both public and private fund clients, establishing a distinctive digital competitive advantage. As of June 2024, the year-to-date client retention rate for fund advisory services stands at 75%, significantly enhancing the likelihood of investment profitability and returns for clients. This success enables clients to truly appreciate the value of advisory services and the time invested in their investments.

Furthermore, Puyi Fund has made continuous advancements in its intelligent client service system, leveraging digital platforms to offer investors comprehensive and efficient services. As of June 2024, the intelligent client service has catered to the needs of approximately 250,000 investors, providing 7*24 services, with a problem resolution rate surpassing 90%. Moreover, Puyi Fund complements intelligent client service with human support, resulting in a client satisfaction rate of 99%. This approach guarantees that investors receive timely and effective assistance whenever required.

Optimizing Trust-Based Communication Channels with Clients

Advertisement

Puyi Fund’s capability to swiftly establish client trust is attributable to its distinctive offline service channels. Unlike other third-party fund sales institutions that heavily rely on online platforms, Puyi Fund provides face-to-face, one-on-one services through offline channels. This approach is especially valuable in navigating complex investment environments, effectively calming investor emotions, enabling them to stay composed and gain a proper understanding of products, ultimately making well-informed investment decisions. Since 2024, Puyi Fund’s research and advisory team has released 28 specialized research reports and organized 19 online client exchanges, along with 35 offline client events, in response to market dynamics and client needs. These initiatives have effectively addressed investors’ concerns and enhanced their confidence.

It is worth mentioning that Puyi Fund’s institutional business has experienced remarkable growth this year, particularly in attracting clients from prominent financial institutions including banks, wealth management subsidiaries, and insurance companies. To cater specifically to institutional investors, Puyi Fund has developed an intelligent over-the-counter fund trading system called “Web-based Institution Master system”. This system provides institutional investors with a wide range of product portfolios, a comprehensive investment research system, and personalized trading experiences. As a result, it comprehensively improves the service quality and efficiency for institutional clients.

As of June 21, Puyi Fund established partnerships with 117 mutual fund companies, including the top 20 fund managers in terms of size, providing access to nearly 11,000 public funds and implementing over 20 customized advisory strategies. In the private fund sector, Puyi Fund has selected over 30 fund managers from the entire market. Of these, 38% manage assets over RMB 10 billion, while 29% manage assets between RMB 5 billion and RMB 10 billion. This selection covers a wide range of mainstream strategy products in the market, catering to the allocation needs of various types of investors.

It is reported that Puyi Fund, an independent third-party fund sales institution holding a fund sales business license issued by the China Securities Regulatory Commission, operates as a subsidiary of Highest Performances Holdings Inc. (NASDAQ: HPH). Embracing the concept of buyer advisor, Puyi Fund is dedicated to delivering comprehensive family financial asset allocation services to individual investors and diversified financial services to institutional investors through its financial technology service platform. With exceptional resource integration capabilities, professional research expertise, and high-quality client service, Puyi Fund strives to cultivate long-term partnerships with clients, catering to their personalized asset allocation needs in various scenarios while assisting a broader range of investors in achieving sustainable long-term returns. As of December 31, 2023, the accumulated assets under Puyi Fund’s allocation advisory services surpassed RMB 75.1 billion, exhibiting a compound annual growth rate of 128.8% from 2015 to 2023.

About Highest Performances Holdings Inc. (NASDAQ: HPH)

Advertisement

HPH was founded in 2010 with the aim of becoming a top provider of smart home and enterprise services. Its mission is to improve the quality of life for families worldwide, focusing on two main driving forces: “technological intelligence” and “capital investments.”HPH has a global strategic perspective and identifies high-quality enterprises with global potential for investment and operations. Its areas of focus include asset allocation, education and study tours, cultural tours, sports events, healthcare and elderly care and family governance.

HPH currently holds controlling interests in two leading financial service providers in China, namely Fanhua Inc., a technology-driven platform, and Fanhua Puyi Fund Distribution Co., Ltd., an independent wealth management service provider.

Highest Performances Holdings Inc., formerly known as Puyi Inc., was renamed on March 13, 2024 to reflect its strategic transformation.

View original content:https://www.prnewswire.co.uk/news-releases/puyi-fund-managed-by-highest-performances-holdings-inc-surpasses-rmb-24-0-billion-in-assets-under-advice-showing-promising-start-to-strategic-transformation-302181854.html

Advertisement