Westport gets government loan

Natural-gas engine maker Westport Innovations has been awarded what it calls a "strategic project investment" of $18.9 million from Technology Partnerships Canada (TPC), a firm sponsored by the Canadian government to help develop high-performance low-emissions engines. This "investment" is actually a loan Westport won't have to start repaying until fiscal 2007. These TPC funds will contribute to approximately

Natural-gas engine maker Westport Innovations has been awarded what it calls a "strategic project investment" of $18.9 million from Technology Partnerships Canada (TPC), a firm sponsored by the Canadian government to help develop high-performance low-emissions engines.

This "investment" is actually a loan Westport won't have to start repaying until fiscal 2007. These TPC funds will contribute to approximately one-third of the research and development costs of Westport's vehicle programs over the next several years, the company said.

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