The world currently faces major challenges that are significantly impacted by transportation growth:
- oil supply and energy security, and the peak in global oil production,
- rising air pollution levels in the world's rapidly growing cities, and
- increasing greenhouse gas emissions linked to climate change and global warming.
Vehicle growth and oil demand in China alone are expected to increase by more than 300% over the next 25 years.
These complex challenges are driving the rapid development of natural gas as a fuel for commercial transportation. Governments
around the world realize that natural gas or biomethane powered vehicles should be a major component of their transportation strategies.
High transportation growth markets like China, India, and Brazil are driving the future energy picture for transportation. All three
have been steadily increasing their natural gas use.
This trend towards natural gas presents increasing opportunities for Westport's technologies and expertise.
Our primary strategies are based on the following foundation:
- We believe that there will always be environmental customers that place a value on lower-than-diesel emissions.
- Technology leadership allows us to provide an economic value proposition to customers. We are expanding into international markets that have attractive natural gas to diesel price differentials. Future Westport natural gas solutions will compete directly with diesel on an economic basis, leading to potential large-scale adoption in those markets.
- Increasing concerns over energy security, air pollution, and global urbanization will lead to even stronger environmental and economic drivers in the future. We will monitor, evaluate and match our technologies to these opportunities.
Ultimately, we believe that the global deployment of natural gas vehicles with Westport technologies can be significant factors in:
- reducing dependence on oil, allowing many countries to use abundant, indigenous natural gas or biomethane from landfill gas,
- mitigating the effects of air pollution in cities, and
- providing the bridge towards hydrogen-based transportation.
|
|
Share