Hello, and welcome to the Annual General and Special Meeting of shareholders of Westport Fuel Systems Inc. Please note that today's meeting is being recorded. If you participate in today's meeting and disclose personal information, you will be deemed to consent to the recording, transfer, and use of same. If you disclose personal information of another person in today's meeting, you will be deemed to represent and warrant to Computershare and the corporation that you first obtained all required consent for the disclosure, recording, transfer, and use of such personal information from all appropriate persons before your disclosure. During the meeting, we'll have a question and answer session. You can submit questions or comments at any time by clicking on the Q&A tab. I would now like to turn the conference over to Mr. Tony Guglielmin, Chair of the Board of Westport Fuel Systems Inc. Please go ahead, Mr. Guglielmin.
Good day, ladies and gentlemen, and welcome
Q&A function on your screen now. We will pause a few moments while we wait for any.
There are no questions in the queue. We can continue.
You have heard the motion. As there is no further discussion, we will proceed with the vote. Please use the voting function on your screen to submit your vote. Voting is closed. While we wait for the final voting figures to be tabulated, I can confirm that based on the size of the management proxy vote received, the special resolution approving the name change resolution is carried. We will now take questions from the webcast. Any registered shareholder or proxy holder who pre-registered and wishes to ask a question may submit a question through the Q&A function on your screen.
There are no questions from registered shareholders or proxy holders on the phone lines.
Well, thank you everyone. Seeing no questions, all formal items of the business on today's agenda have now been considered. There being no other formal business, I declare the formal portion of this Annual General and Special Meeting officially closed and adjourned. On behalf of the board of directors and management, we thank you for your participation today.
Thanks, Tony. With the Annual General and Special Meeting now concluded, we invite you all to stay with us for our informal management presentation, following which we will have a question and answer session with management. Dan, over to you.
Thanks, Larry. Good day. Thank you for joining us today. Before I begin, I would like to remind everyone that today's presentation includes forward-looking statements. Please refer to the forward-looking statements caution shown on this slide and the risk to factors and other disclosures in Westport's public filings. Since we reported our first quarter results in May, we have seen meaningful progress across several areas of the business. Most importantly, we have seen even stronger evidence that the market is beginning to understand the strategic value of our portfolio. Cespira's proven HPDI platform, our high-pressure controls capabilities, and the opportunity to extend those technologies into the North American heavy-duty transportation market with our CNG storage solution paired with Cespira's HPDI fuel system. We are seeing growing recognition that these are not standalone opportunities, but interconnected assets that can create value across multiple pathways and applications.
Cespira remains central to Westport's strategy. The joint venture with Volvo Group is demonstrating the commercial relevance of HPDI fuel system technology in the market today, particularly in LNG applications where fleet economics, emissions reduction, and performance all matter. The growth we saw in Q1 reinforces several important points. Customers are adopting the technology at a rapidly increasing pace. Cespira is gaining commercial traction. The platform has the potential to scale across multiple fuel pathways. That is important not only for Cespira, but also for Westport, because Cespira validates the core HPDI technology that underpins our broader strategy. As adoption expands and the technology platform evolves, we see opportunities to extend its relevance across additional lower- carbon and zero- carbon fuel pathways, creating new avenues for growth over time.
A recent example of that growth potential is the development agreement announced earlier this month between Cespira and Volvo Group to finalize the integration and commercialization of HPDI technology for Volvo Group's 13-litre hydrogen engine platform. This milestone represents a natural evolution of the HPDI platform beyond LNG applications and demonstrates the flexibility of the technology to support multiple fuel pathways. Just as importantly, it reflects a continuing confidence from Volvo Group in both Cespira and HPDI technology. For Westport, this serves as an important proof point that the platform can expand into new markets and applications while maintaining the performance characteristics that heavy-duty customers require. As the industry evaluates practical pathways towards decarbonization, hydrogen internal combustion may become an attractive option in applications where infrastructure cost or operational realities challenge other alternatives.
Since unveiling our new integrated high-pressure CNG storage solution, we have had the opportunity to engage directly with a broad range of industry participants, including some of North America's largest commercial fleets during meetings and demonstrations in Vancouver. The level of interest and quality of feedback have been encouraging and have reinforced our belief that the market is actively searching for practical, commercially viable decarbonization solutions. The conversations we are having increasingly focus on deployment pathways, operating economics, and fleet requirements rather than technology feasibility. Our focus remains on disciplined execution, continuing engagement with fleet and infrastructure partners, advancing demonstrations, validating the value proposition in real-world operating environments, and positioning the platform for future commercial opportunities. We recognize that none of this progress matters without the capital required to execute.
Since Q1, we have continued to evaluate financing alternatives and engage with the market to support the next phase of Westport's strategy. Our recent equity offering was an important step in strengthening our balance sheet and supporting the company's near-term priorities. We are mindful of dilution and the need to be disciplined in how we access capital, but we also believe the market now has a clear understanding of the value we are building through Cespira, our North American market opportunity, and our broader high-pressure technology portfolio. Going forward, our objective is to align financing with milestones. We want to use our market catalysts, partner validation, and demonstrated execution to improve our access to capital and support long-term shareholder value. Thank you again for your support and for your continued confidence in Westport.
Thanks, Dan. We'll now take the opportunity to answer any questions, if we can open the Q&A line here. Wait a moment for any to pop up. It looks like there's no further questions on the phone lines. Dan, I'll pass it over to you.
Thank you all for your interest and investment in Westport. You can always reach us at 604 718 2046 or at invest@westport.com. Thank you again, have a wonderful rest of your day. Goodbye.
This concludes today's conference call. Thank you for participating, have a pleasant day.