Westport Innovations Inc. (USA) (NASDAQ:WPRT) shares boosted yesterday after the engine technology developer signed a deal with Caterpillar Inc. (NYSE:CAT) to develop engines that can use cheaper natural gas instead of diesel to power mining trucks and locomotives. Natgas prices have dropped to levels of $2 per million British thermal units as compared to around $10 in 2008 as swelling production from shale fields has flooded the market.
Westport has already teamed up with General Motors Company (NYSE:GM) and Cummins Inc. (NYSE:CMI) to develop natural gas-powered engines. Westport and the world’s largest maker of earth-moving equipment will also develop technology to use the fuel in Caterpillar’s engines working for applications like electric power, industrial, machine, marine and petroleum.
http://www.pt-news.org/westport-innovations-inc-usa-nasdaqwprt-after-general-motors-company-nysegm-and-cummins-inc-nysecmi-now-teams-up-with-caterpillar-inc-nysecat/123040/
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