Westport (WPRT) Pioneers Hydrogen-Driven Transport in Madrid
To usher in a new era of sustainable transport, Westport Fuel Systems WPRT — a global supplier of advanced alternative fuel systems — has successfully executed a groundbreaking heavy transport demonstration in Madrid, Spain. This achievement, featuring the H2 HPDI fuel system-equipped prototype truck, marks the maiden venture of its kind in Spain and is a testament to the nation's commitment to decarbonizing its heavy transport sector.
The demonstration witnessed the prototype truck, equipped with the H2 HPDI system, transporting refrigerated goods in Madrid. This operation was enabled through a collaborative synergy between Westport and key partners in the transportation and energy sectors.
Disfirmur SL, a prominent transport and logistics enterprise dedicated to efficient and eco-friendly transport, took the helm in executing refrigerated goods transportation. The refueling of the hydrogen-powered vehicle was managed by Enagás' subsidiary, Scale Gas, at its hydrogen refueling station in Madrid. Furthermore, Versallis Tech Services, a specialist in hydrogen and renewable energy services, rendered technical coordination and support throughout the operation.
This venture was brought to fruition by Mercadona, a leading supermarket chain in Spain. Mercadona facilitated the test through its distribution service in Madrid, thereby reinforcing its commitment to pioneering sustainable logistics solutions.
Juan J. Sanchez, CEO of Disfrimur, stressed the need for heavy-duty hydrogen-fueled trucks to help businesses such as Mercadona realize their transport decarbonization aspirations. He endorsed the efficiency and affordability of trucks equipped with Westport's H2 HPDI fuel system as a game-changer in meeting present operational demands.
Echoing these sentiments, Miguel A. Castro Pérez, general manager of Mobility at Scale Gas, emphasized that this trial was a step toward the company’s dedication to decarbonizing the transport sector. He highlighted the importance of integrating hydrogen into the firm’s portfolio of infrastructure solutions tailored for the heavy-duty transport segment.
Anders Johansson, Westport's vice president of Heavy Duty OEMs, underscored the viability of the H2 HPDI fuel system. He expressed enthusiasm about the prototype truck being utilized by a major industry player. Its usage successfully ensured the timely delivery of fresh products to a supermarket logistics center.
José López-Gallego, COO of Versallis Tech Services, expressed optimism that this demonstration would amplify awareness regarding hydrogen's potential to revolutionize heavy transport. He emphasized its cost-competitive edge over traditional fossil fuel technologies.
This collaborative endeavor, encapsulating the strengths of each participating entity, has laid a robust foundation for ushering in a sustainable and efficient transport paradigm in Madrid, leveraging carbon-neutral fuel.
Zacks Rank & Key Picks
WPRT currently carries a Zacks Rank #4 (Sell).
A few better-ranked players in the same industry include Adient plc ADNT, Allison Transmission ALSN and Magna International MGA.
The Zacks Consensus Estimate for ADNT’s fiscal 2023 sales and EPS implies year-over-year growth of 9% and 1,791%, respectively. The earnings estimate for the current fiscal has been revised upward by 15 cents in the past 60 days. The consensus mark for fiscal 2024 sales and EPS implies year-over-year growth of 3.4% and 78%, respectively. Adient sports a Zacks Rank #1 (Strong Buy) and has a VGM Score of A.
The Zacks Consensus Estimate for ALSN’s 2023 sales and EPS implies year-over-year growth of 9.3% and 26.4%, respectively. The earnings estimate for 2023 has been revised upward by 6 cents in the past 60 days. The consensus mark for 2024 sales and EPS implies year-over-year growth of 2% and 4%, respectively. Allison carries a Zacks Rank #2 (Buy) and has a VGM Score of A.
The Zacks Consensus Estimate for MGA’s 2023 sales and EPS implies year-over-year growth of 13% and 31%, respectively. The earnings estimate for 2023 has been revised upward by 8 cents in the past 60 days. The consensus mark for 2024 sales and EPS implies year-over-year growth of 5.7% and 24.2%, respectively. Magna carries a Zacks Rank #2 and has a VGM Score of A.
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