Westport and BC Gas develop alliance

Westport Innovations Inc has announced a financing agreement with BC Gas Inc that will see the latter make an $8-million private placement in Westport in return for a minority equity stake. The proceeds will be used to acquire a 32% interest in BCG eFuels Inc, a BC Gas subsidiary which owns compressed natural gas refuelling facilities in BC and Ontario. BCG eFuels aims to become a leading supplier of alternative fuel infrastructure for vehicles and fleets. The agreement forms a key plank in Westport's strategy of becoming a developer of fuel systems that allow diesel engines to run on natural gas, as well as a supplier of the required fuel....