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 one-third of the research and development costs of Westport's vehicle programs over the next several years, the company said.