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Hamilton Spectator
13-05-2025
- Business
- Hamilton Spectator
Westport Fuel Systems Reports First Quarter 2025 Financial Results
VANCOUVER, British Columbia, May 13, 2025 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. ('Westport') (TSX:WPRT / Nasdaq:WPRT) reported financial results for the first quarter ended March 31, 2025, and provided an update on operations. All figures are in U.S. dollars unless otherwise stated. 'We continue to make significant strides in transforming Westport and sharpening our strategic focus. Our priorities remain clear: driving success through Cespira, our HPDI joint venture with Volvo Group; pursuing operational excellence through initiatives to streamline processes and reduce costs; and positioning Westport at the forefront of the alternative fuel shift. These priorities are guiding us as we work towards a brighter future. We're seeing the impact of our efforts in our recent results – we significantly improved our net loss to $2.5 million in Q1 of 2025 from a net loss of $13.6 million in Q1 of 2024. This was supported by a $3.5 million increase in gross profit and an $8.1 million decrease in operating expenses. We also reported a substantial improvement in adjusted EBITDA as compared to the same period of the prior year. Looking to the future, with the announcement of the proposed sale of our light-duty business, Westport is realigning to focus on the hard-to-decarbonize applications primarily in long-haul and heavy-duty trucking where our unique HPDI and high-pressure technologies offer significant growth potential. Critically, this transaction is designed to provide immediate cash proceeds that bolster our balance sheet and fund growth opportunities in Cespira and the High-Pressure Controls & Systems business. Now, the conversation has changed. Our attendance at the Advanced Clean Transportation Expo or ACT Expo, the largest showcase of clean transportation technologies in North America, validated our view that the market recognizes that the internal combustion engine utilizing alternative fuels is an affordable solution that also decarbonizes long-haul, heavy-duty transport. Westport is the clean-tech innovation company to help drive this change. Through Cespira, the HPDI fuel system does the on-engine work to our High Pressure Controls and Systems business where our components do the off-engine work we are providing OEMs with simplified solutions to decarbonize. Volvo recently highlighted that demand for their gas-powered trucks that utilize HPDI technology has been increasing, with sales up more than 25% in 2024, a trend that we saw continue into Q1 with Cespira delivering improved revenue driven by increased volumes as compared to Q1 of 2024. While we remain focused on scaling our alternative fuel solutions, including LNG, CNG, RNG, and hydrogen systems, we are matching the cleanest gaseous fuels with the most efficient engine technologies. We are committed to delivering practical, commercially viable low-carbon solutions today and providing sustainable, high-performance solutions that help our customers achieve their goals now and for years to come.' Dan Sceli, Chief Executive Officer Q1 2025 Highlights [1] Adjusted earnings before interest, taxes and depreciation is a non-GAAP measure. Please refer to NON-GAAP FINANCIAL MEASURES in Westport's Management Discussion and Analysis for the reconciliation. (1) This includes income or loss primarily from our investments in Cespira and Minda Westport Technologies Limited (2) Gross margins, EBITDA and Adjusted EBITDA are non-GAAP measures. Please refer to GAAP and NON-GAAP FINANCIAL MEASURES for the reconciliation to equivalent GAAP measures and limitations on the use of such measures. Segment Information Light-Duty Revenue for the three months ended March 31, 2025 was $64.2 million compared with $63.3 million for the three months ended March 31, 2024. Light-Duty revenue increased by $0.9 million compared to the prior year and was primarily driven by increase in sales in our light-duty OEM and DOEM businesses. The light-duty OEM business had an increase in sales from its Euro 6 program compared to the prior year. In the first quarter of 2024, DOEM had a significant decrease in sales to a customer. This was partially offset by lower sales in our IAM, electronics and fuel storage businesses compared to the prior year. Gross profit for the three months ended March 31, 2025 increased by $1.6 million to $14.0 million, or 22% of revenue, compared to $12.4 million, or 20% of revenue, for the same prior year period. This was primarily driven by a change in sales mix with an increase in sales to European customers and a reduction in sales to developing regions. High Pressure Controls & Systems Revenue for the three months ended March 31, 2025 was $1.4 million compared with $2.4 million for the three months ended March 31, 2024. The decrease in revenue for the three months ended March 31, 2025 compared to the prior year was primarily driven by the hydrogen industry slowdown impacting demand for hydrogen components. Gross profit for the three months ended March 31, 2025 decreased by $0.2 million to $0.2 million, or 14% of revenue, compared to $0.4 million, or 17% of revenue, for the same prior year period. This was primarily driven by lower sales volumes increasing the per unit manufacturing costs in the quarter. Heavy-Duty Original Equipment Manufacturer ('OEM') Revenue for the three months ended March 31, 2025 was $5.4 million, compared to $11.9 million for the prior year. The decrease in revenue for the three months ended March 31, 2025 is a result of the continuation of the business in Cespira. The revenue earned in the current quarter was from our services provided under the transitional service agreement with Cespira that is expected to end by Q2 2026. Gross profit for the three months ended March 31, 2025 increased by $2.1 million to $1.0 million, or 19% of revenue, compared to negative $1.1 million or negative 9% of revenue, for the same prior year period. The Heavy-Duty OEM segment received $0.9million in credits from component suppliers for inventory sold in the quarter. Selected Cespira Statements of Operations Data We account for Cespira using the equity method of accounting. However, due to its significance to our long-term strategy and operating results, we disclose certain Cespira's financial information in notes 7 and 17 of our interim financial statements for the three months ended March 31, 2025. The following table sets forth a summary of the financial results of Cespira for the three months ended March 31, 2025 . 1Gross margin is non-GAAP financial measure. See the section 'Non-GAAP Financial Measures' for explanations and discussions of these non-GAAP financial measures or ratios. Revenue Cespira revenues for the three months ended March 31, 2025 were $16.7 million. In the prior year, the Heavy-Duty OEM segment, which included our HPDI business, had revenues of $11.9 million. This was primarily driven by an increase in HPDI fuel systems sold in the period. Gross Profit Gross profit was $0.5 million for the three months ended March 31, 2025. In the prior year, the Heavy-Duty OEM segment had negative $1.1 million in gross profit primarily driven by the increase in sales volumes compared to the prior year and reductions in manufacturing cost. Operating loss Cespira incurred operating losses of $7.1 million for the three months ended March 31, 2025. Cespira continues to incur operating losses as it scales its operations and expand into other markets. Q1 2025 Conference Call Westport has scheduled a conference call for May 14, 2025, at 7:00 am Pacific Time (10:00 pm Eastern Time) to discuss these results. To access the conference call please register at The live webcast of the conference call can be accessed through the Westport website at . Participants may register up to 60 minutes before the event by clicking on the call link and completing the online registration form. Upon registration, the user will receive dial-in info and a unique PIN, along with an email confirming the details. The webcast will be archived on Westport's website at . Financial Statements and Management's Discussion and Analysis To view Westport financials for the first quarter ended March 31st, 2025, please visit About Westport Fuel Systems At Westport Fuel Systems, we are driving innovation to power a cleaner tomorrow. We are a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global automotive industry. Our technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America, and South America, we serve our customers in approximately 70 countries with leading global transportation brands. At Westport Fuel Systems, we think ahead. For more information, visit . Cautionary Note Regarding Forward Looking Statements This press release contains forward-looking statements, including statements regarding future strategic initiatives and future growth, future of our development programs (including those relating to HPDI and Hydrogen), our expectations for 2024 and beyond, including the demand for our products, and the future success of our business and technology strategies. These statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties and are based on both the views of management and assumptions that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activities, performance or achievements expressed in or implied by these forward looking statements. These risks, uncertainties and assumptions include those related to our revenue growth, operating results, industry and products, the general economy, conditions of and access to the capital and debt markets, solvency, governmental policies and regulation, technology innovations, fluctuations in foreign exchange rates, operating expenses, continued reduction in expenses, ability to successfully commercialize new products, the performance of our joint ventures, the availability and price of natural gas and hydrogen, new environmental regulations, the acceptance of and shift to natural gas and hydrogen vehicles,fuel emission standards, the development of competing technologies, our ability to adequately develop and deploy our technology, the actions and determinations of our joint venture and development partners, the effects and duration of the Russia-Ukraine conflict, supply chain disruptions as well as other risk factors and assumptions that may affect our actual results, performance or achievements or financial position discussed in our most recent Annual Information Form and other filings with securities regulators. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they were made. We disclaim any obligation to publicly update or revise such statements to reflect any change in our expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in these forward-looking statements except as required by National Instrument 51-102. Contact Information Investor Relations Westport Fuel Systems T: +1 604-718-2046 GAAP and Non-GAAP Financial Measures Our financial statements are prepared in accordance with U.S. generally accepted accounting principles ('U.S. GAAP'). These U.S. GAAP financial statements include non-cash charges and other charges and benefits that may be unusual or infrequent in nature or that we believe may make comparisons to our prior or future performance difficult. In addition to conventional measures prepared in accordance with U.S. GAAP, Westport and certain investors use EBITDA and Adjusted EBITDA as an indicator of our ability to generate liquidity by producing operating cash flow to fund working capital needs, service debt obligations and fund capital expenditures. Management also uses these non-GAAP measures in its review and evaluation of the financial performance of Westport. EBITDA is also frequently used by investors and analysts for valuation purposes whereby EBITDA is multiplied by a factor or 'EBITDA multiple' that is based on an observed or inferred relationship between EBITDA and market values to determine the approximate total enterprise value of a company. We believe that these non-GAAP financial measures also provide additional insight to investors and securities analysts as supplemental information to our U.S. GAAP results and as a basis to compare our financial performance period-over-period and to compare our financial performance with that of other companies. We believe that these non-GAAP financial measures facilitate comparisons of our core operating results from period to period and to other companies by, in the case of EBITDA, removing the effects of our capital structure (net interest income on cash deposits, interest expense on outstanding debt and debt facilities), asset base (depreciation and amortization) and tax consequences. Adjusted EBITDA provides this same indicator of Westports' EBITDA from continuing operations and removing such effects of our capital structure, asset base and tax consequences, but additionally excludes any unrealized foreign exchange gains or losses, stock-based compensation charges and other one-time impairments and costs which are not expected to be repeated in order to provide greater insight into the cash flow being produced from our operating business, without the influence of extraneous events. Segment Information EBITDA and Adjusted EBITDA are intended to provide additional information to investors and analysts and do not have any standardized definition under U.S. GAAP, and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with U.S. GAAP. EBITDA and Adjusted EBITDA exclude the impact of cash costs of financing activities and taxes, and the effects of changes in operating working capital balances, and therefore are not necessarily indicative of operating profit or cash flow from operations as determined under U.S. GAAP. Other companies may calculate EBITDA and Adjusted EBITDA differently. Segment earnings or losses before income taxes, interest, depreciation, and amortization ('Segment EBITDA') is the measure of segment profitability used by the Company. The accounting policies of our reportable segments are the same as those applied in our consolidated financial statements. Management prepared the financial results of the Company's reportable segments on basis that is consistent with the manner in which Management internally disaggregates financial information to assist in making internal operating decisions. Certain common costs and expenses, primarily corporate functions, among segments differently than we would for stand-alone financial information prepared in accordance with GAAP. These include certain costs and expenses of shared services, such as IT, human resources, legal, finance and supply chain management. Segment EBITDA is not defined under US GAAP and may not be comparable to similarly titled measures used by other companies and should not be considered a substitute for net earnings or other results reported in accordance with GAAP. Reconciliations of reportable segment information to consolidated statement of operations can be found in section 'NON-GAAP FINANCIAL MEASURES & RECONCILIATIONS' within this press release.
Yahoo
13-05-2025
- Automotive
- Yahoo
Hydrogen-fueled refuse trucks are ‘just a matter of when,' manufacturers say
This story was originally published on Waste Dive. To receive daily news and insights, subscribe to our free daily Waste Dive newsletter. Truck manufacturers still see a future for hydrogen-powered refuse vehicles despite the recent dissolution of Hyzon, which ran the first U.S. pilot for such vehicles last year. Manufacturers think waste and recycling haulers are a natural fit for the technology, given their proven ability in recent years to pivot to new fuel types like compressed natural gas. "This industry works very well at adapting to infrastructure," Tyler Ohlmansiek, director of e-mobility sales at Mack Trucks, said during a panel at WasteExpo on May 7. "That's a leg up for hydrogen in the waste and recycling space." Hyzon partnered with manufacturer New Way Trucks to deliver the first hydrogen fuel cell-powered refuse hauling vehicle in 2024, and it had begun receiving orders for the model. Recology, GreenWaste and other waste companies conducted pilots of the truck, and found that it was performing as well as diesel-powered trucks in certain applications. That early success wasn't enough to keep Hyzon afloat, however. Its board of directors voted to liquidate and dissolve the company in December, and an auction for its assets remains ongoing. Despite Hyzon's demise, New Way has still received interest in hydrogen fuel cell refuse trucks and is evaluating ways to continue in the space, said Marc de Smidt, senior director of engineering at New Way. That may include partnering with an entity that takes over the defunct company's assets or partnering with another fuel cell manufacturer. "We're working on getting something out there," de Smidt said. Other manufacturers are dipping their toe into the space as well, though mostly for heavy-duty applications beyond waste and recycling hauling. Kenworth was set to begin production this year on a hydrogen fuel cell truck jointly developed by Paccar and Toyota, but that's now delayed. Hyundai has been manufacturing a heavy-duty hydrogen fuel cell vehicle for several years, and recently debuted an updated model at the Advanced Clean Transportation Expo in California. Volvo Group and Daimler also plan to bring a hydrogen fuel cell truck to market this decade through a partnership. Hydrogen fuel cell-powered trucks face a shifting policy landscape, as the Trump administration has attempted to cut funding for a hydrogen research hub program created during the Biden administration. Critics have also attempted to repeal the Advanced Clean Trucks rule, first created by California and later adopted by other states. They say the rule's timeline to transition manufacturers away from fossil fuel-powered vehicles is aggressive and unrealistic given the availability and performance of alternatives. Nevertheless, manufacturers are still eager to make hydrogen fuel cell-powered vehicles work, in part because sustainability-minded customers are demanding them, said Mitesh Naik, director of product planning and strategy for Peterbilt Motors, a subsidiary of Paccar. 'Despite what happens with regulations, I know two things. Number one: We'll be ready. ... And number two: There's still a lot of ESG-minded customers,' said Naik. 'It's not a matter of if, it's just a matter of when.' The sector's adoption of battery-electric vehicles has also been growing, albeit slowly. Last year, 19 new battery-electric refuse vehicles were registered, according to an industry-sponsored report. That number is expected to grow, in part becauselast year Republic Services ordered 100 electric McNeilus Volterra waste and recycling vehicles from Oshkosh Corp. Proponents of hydrogen fuel cell-powered vehicles note the technology can be lighter than the battery packs needed for battery electric-powered heavy-duty vehicles. That means hydrogen trucks may be a better drop-in replacement for diesel trucks on more hauling routes. One of the key challenges to wider hydrogen truck adoption will be fueling infrastructure, panelists said. As fleets evolve, operators will have to decide where and how they deploy permanent hydrogen fueling stations, often working with third-party partners. In some cases, fleet operators could position a hydrogen fuel tank on their lots. That could be a quicker interim move to transition fleets, especially given the delays with gas and power utility interconnections that have caused setbacks for other fuel types, said Peterbilt's Naik. "OEMs can very quickly produce a truck, deliver a truck to a great partner and customer. But oftentimes the infrastructure is the missing item," he said. Jim Mendoza, director of equipment, procurement and maintenance for Recology, said haulers are looking for a "one-to-one" replacement for diesel-powered trucks, but "the reality is we may not get to one-to-one." Instead, he envisions a mixed fleet with some hydrogen fuel cell-powered vehicles, some battery-electric and some internal combustion-powered trucks. Even so, Mendoza said there are potential upsides beyond the emissions savings touted by proponents of hydrogen fuel cell vehicles. He said the trucks could also be a recruitment tool for haulers, noting Recology drivers didn't go home smelling like exhaust after the hydrogen fuel cell pilot, making the job more pleasant. "We don't have that influx of drivers anymore. We have to go shop for them and it's very difficult," Mendoza said. "This is maybe a good story for them.' Disclosure: Informa, which owns a controlling stake in Informa TechTarget, the publisher behind Waste Dive, is also the owner of WasteExpo. Informa has no influence over Waste Dive's coverage. Recommended Reading Hyzon lays off workers, plans to liquidate business Sign in to access your portfolio
Yahoo
04-05-2025
- Automotive
- Yahoo
Toyota Expands Commitment to Hydrogen Society with Fleet, Infrastructure and Next-Gen System Debut
Plans to introduce hydrogen trucks to Southern California-based Toyota North American Parts Center fleet Investments in hydrogen infrastructure to benefit trucking fleets and consumers North American debut of Toyota's more efficient, more powerful Gen 3 FC system ANAHEIM, Calif., April 28, 2025 /PRNewswire/ -- Toyota Motor North America (Toyota) today reaffirmed its commitment to a Hydrogen Society at the 2025 Advanced Clean Transportation Expo, introducing hydrogen-related plans, investments and debuting new fuel cell technologies and products. At a keynote during the ACT Expo's Hydrogen Workshop, Toyota Group Vice President of Powertrain Engineering Jordan Choby announced plans to introduce hydrogen-powered fuel cell electric Class 8 heavy-duty trucks as part of an effort to reduce the number of diesel-powered tractor trailers servicing Toyota's North America Parts Center California (NAPCC). To support the new hydrogen trucks in the fleet, the company also announced plans for a new hydrogen fueling station to be built on the NAPCC campus, as well as plans to further invest and vertically integrate into the hydrogen ecosystem. Toyota also debuted its next-generation fuel cell technology in North America, the Toyota Gen 3 FC system. "Hydrogen as a fuel – and especially fuel cells – offer benefits that can make a positive change, and we are invested in their long-term success," Choby said. "We are investing in resources that we believe will lead to sustainable growth, both for our operations and the entire value chain in this still-evolving transportation sector." With Class 8 heavy-duty trucks powered by fuel cells moving out of their pilot phase, Toyota will begin introducing production-level FCEV trucks to its logistics fleet, running routes from the Port of Long Beach to the NAPCC in Ontario, California, and even as far south as San Diego. The shift is part of Toyota's 2050 Challenge goal of reducing carbon dioxide emissions from its supply chain. "Our goals, capabilities to accomplish those goals and long-term mindset have put Toyota in a position to be a leader moving the global transportation industry forward," Choby said. To bring its plans to life, Toyota is working with Air Liquide and Iwatani to strengthen fueling infrastructure. With Iwatani, there is an additional focus on commercial vehicles for a state-of-the-art station using new liquid hydrogen technology and SAE J2601/5-capable high-flow fueling systems. The high-flow system enables faster fueling than conventional hydrogen fueling stations, comparable in fueling time with diesel fuel pumps, and especially useful to fleet and commercial customers in helping improve operational uptime. Toyota and Air Liquide will work together on sourcing and delivering hydrogen molecules from Air Liquide's dedicated hydrogen mobility plant in North Las Vegas, Nevada, with a focus on supplying the NAPCC station with reliable, affordable liquid hydrogen. Toyota will also look to build relationships with other companies and organizations in the U.S. as well as those abroad. In Japan, Toyota Motor Corporation is collaborating with Chiyoda on electrolysis technology, where they are combining their respective expertise in industrial products and plant engineering. Electrolyzers are devices capable of splitting water molecules into hydrogen and oxygen, the process to generate hydrogen fuel. Toyota is also looking to extract hydrogen from the methane byproducts derived from animal waste, wastewater treatment plants and landfills. "Hydrogen is another path to energy independence, security and innovation, expanding how we can move people, goods, information, energy, and society," Choby said. Finally, Choby provided an introduction of Toyota's new, next-generation Gen 3 FC system for its North American debut at ACT Expo. The presentation on the new system outlined a preliminary arrival in the U.S. in or after 2027. The Gen 3 FC system has been designed with versatility in mind, with different sizes and power outputs for commercial, heavy trucking and passenger vehicle applications. The next-gen system is expected to be 20% more efficient and 20% more powerful than the current system. For heavy truck powertrains, the Gen 3 FC is anticipated to go more than 600,000 miles (1 million kilometers) without a need for major service, a maintenance schedule on par with comparable diesel-powered trucks. "We envision a stronger hydrogen fueling infrastructure, evolved fuel cell stacks and a whole ecosystem of engaged partners and suppliers who, like us, are in it for the long haul," Choby said. The ACT Expo and Conference runs from April 28 to May 1 at the Anaheim Convention Center, and visitors can find Toyota during the Expo period from April 28 to April 30 at booth #4237. For more information, visit Advanced Clean Transportation (ACT) Expo. About Toyota Toyota (NYSE:TM) has been a part of the cultural fabric in North America for nearly 70 years, and is committed to advancing sustainable, next-generation mobility through our Toyota and Lexus brands, plus our more than 1,800 dealerships. Toyota directly employs nearly 64,000 people in North America who have contributed to the design, engineering, and assembly of nearly 49 million cars and trucks at our 14 manufacturing plants. In spring 2025, Toyota's plant in North Carolina will begin to manufacture automotive batteries for electrified vehicles. With more electrified vehicles on the road than any other automaker, Toyota currently offers 32 electrified options. For more information about Toyota, visit About Toyota Hydrogen Headquarters (H2HQ) Toyota Hydrogen Headquarters (H2HQ) is the lead office in North America for the development, engineering, commercialization and business operations of Toyota's hydrogen fuel cell technologies. Based in Gardena, California, H2HQ works collaboratively with Toyota's R&D offices in Michigan and Texas, as well as business units in Japan and internationally, to create zero-emissions fuel cell technologies that enable energy independence, innovation and the movement of people, goods, energy and information. Aaron Jacob View original content to download multimedia: SOURCE Toyota Motor North America Sign in to access your portfolio
Yahoo
29-04-2025
- Automotive
- Yahoo
Rehlko Signs Exclusive Agreement with Toyota to Supply Fuel Cell Modules
ANAHEIM, Calif., April 29, 2025 /PRNewswire/ -- Rehlko and Toyota Motor North America (Toyota) today announced at the Advanced Clean Transportation Expo a supplier agreement wherein Toyota will provide its hydrogen-powered fuel cell modules to Rehlko, a global leader in energy resilience, for use in stationary power generator products. The agreement pairs Rehlko's longstanding track record of delivering innovative energy solutions that improve life and provide independence, agility and security to mission-critical infrastructure, facilities and residences with Toyota's proven fuel cell technology. "Toyota is excited to work with Rehlko on helping to build strong energy solutions using our proven, scalable fuel cell technology," said Thibaut de Barros Conti, general manager, Toyota Hydrogen Solutions. "Integrating Rehlko's systems with Toyota's fuel cell technology has the potential to yield cleaner, reliable and more sustainable energy that can scale based on the needs of customers and society and enable smart, energy-independent mobility for all." Interest in alternative fuels, like hydrogen, has surged significantly for stationary applications, including both backup and primary uses. For operators especially focused on solutions that provide zero emissions at the point of use, Rehlko plans to integrate Toyota's fuel cell technology, which can be designed and manufactured to the same operational standards as conventional generators. The fuel cell-based generation systems can be used to power facilities, such as data centers, warehouses and off-grid networks, as well as to help protect against weather conditions and grid overload – all while producing local emissions that consist of water and air. "The 1MW fuel cell generator represents a significant step forward in energy resilience for mission-critical customers. It delivers the same reliability, but helps customers meet their resilience goals by cutting local emissions to zero," says Charles Hunsucker, President, Power Systems at Rehlko. "This cutting-edge technology is ready for orders today." Rehlko and Toyota's first collaboration was to develop and install a 100kW hydrogen fuel cell power generation system to reinforce and back up the electrical infrastructure and secondary power generation at Klickitat Valley Health, a hospital in rural Washington State. Building on the success of this project, Rehlko and Toyota have developed and engineered a commercialized 1MW system to meet the demand for 1MW or more, with Rehlko developing the overall system and Toyota supplying fuel cell technology. Toyota's research and development with hydrogen fuel cell technology spans more than 30 years, from creating the Toyota Mirai, one of the world's first mass-market passenger fuel cell electric vehicles, to scaling fuel cell technology for other applications. Toyota has put the technology through its paces from development and testing in conditions colder than -20° Fahrenheit to nearly 150° in Death Valley. Toyota maintains an engineering, product planning and business operations headquarters – NA H2HQ – in Southern California and fuel cell kit assembly in Georgetown, Kentucky. About Rehlko Rehlko, through its Power Systems business unit, delivers worldwide energy solutions, designed to ensure resilience for mission-critical applications of all sizes. Building on more than a century of expertise and dedication, the company offers complete power systems, including industrial backup generators (HVO, diesel, gaseous), enclosures, hydrogen fuel cells systems, automatic transfer switches, switchgear, monitoring controls, genuine parts and end-to-end services. As a global company with service partners in every country, Rehlko provides reliable, cutting-edge technology to keep industries and businesses running when the grid fails. Rehlko goes beyond basic recovery to create stronger, more resilient communities, driving a durable energy future. About Toyota Toyota (NYSE:TM), creator of the Prius hybrid and the Mirai fuel cell vehicle, is committed to building vehicles for the way people live through our Toyota and Lexus brands and directly employs nearly 64,000 people in North America (nearly 48,000 in the U.S.). For almost 70 years, Toyota has assembled nearly 47 million cars and trucks in North America at the company's 14 manufacturing plants. In spring 2025, the company's plant in North Carolina will begin to manufacture automotive batteries for electrified vehicles. Through our more than 1,800 North American dealerships (nearly 1,500 in the U.S.), Toyota sold more than 2.7 million cars and trucks (more than 2.3 million in the U.S.) in 2024, of which more than 43 percent were electrified vehicles (full battery, hybrid, plug-in hybrid and fuel cell). About Toyota Hydrogen Headquarters (H2HQ) Toyota Hydrogen Headquarters (H2HQ) is the lead office in North America for the development, engineering, commercialization and business operations of Toyota's hydrogen fuel cell technologies. Based in Gardena, California, H2HQ works collaboratively with Toyota's R&D offices in Michigan and Texas, as well as business units in Japan and internationally, to create zero-emissions fuel cell technologies that enable energy independence, innovation and the movement of people, goods, energy and information. For more information: Toyota Hydrogen Solutions | Media Contacts:Suzanne Jacob Related Links: View original content to download multimedia: SOURCE Toyota Motor North America
Forbes
29-04-2025
- Automotive
- Forbes
Tritium Unveils TRI-FLEX Scaling EV Charging Platform At ACT Expo 2025
Tritium unveiled its revolutionary TRI-FLEX charging platform at ACT Expo 2025 This year's Advanced Clean Transportation Expo, or ACT Expo 2025, is underway in Anaheim, California, with original equipment manufacturers (OEMs) and suppliers unveiling the latest advanced vehicles, low-carbon fuels, and innovative transportation technologies and services. Tritium, a global leader in DC fast chargers for electric vehicles (EVs), is using the event to announce its revolutionary TRI-FLEX charging platform—a next-generation distributed architecture that enables charge point operators to scale from four up to 64 charge points easily. The technology promises to address critical infrastructure challenges as the EV market transitions from early adoption to mainstream over the next several years. 'Today marks a paradigm shift in EV charging infrastructure," said Arcady Sosinov, Tritium's CEO, during the unveiling at ACT Expo. "TRI-FLEX is not just an incremental improvement but a fundamental reimagining of distributed charging architecture designed to scale efficiently at the speed of coming demand in the market." The TRI-FLEX hub—the core of the platform—is a power conversion system that scales from 400kW to 1.6MW of AC power and up to 3.2MW of DC power (a single Hub can power two to 32 TRI-FLEX dispensers—up to 64 charge points). Flexibility allows mixing and matching 100kW, 200kW, and 400kW dispensers in a single system, and the system's 25kW power resolution with real-time load balancing optimizes energy distribution. The TRI-FLEX hub carries a full IP65 environmental rating and advanced liquid cooling, maintaining reliable performance from Arctic cold (-35°C) to desert heat (+55°C). I interviewed Sosinov to learn more about the technology, better understand why the company feels the market is ready, and understand its impact on consumers, the end users: 'Think of traditional charging like having separate water heaters for every shower in your house – inefficient, expensive, and difficult to scale. TRI-FLEX is like one smart water heater serving many showers simultaneously, giving each precisely the temperature and pressure it needs. We call it 'distributed' charging infrastructure, and Tritium pioneered it over a decade ago. "TRI-FLEX dramatically enhances distributed charging: whereas existing charging systems typically only scale to 8 charging points, TRI-FLEX can scale to 64. That's eight times more charging points without requiring eight times the grid capacity. Our ultra-scaling architecture will support up to 64 vehicles from a single power system without requiring massive, costly and time-consuming grid upgrades. And best of all, customers can invest in a smaller system today and then scale to 64 charging points over time in a cost-effective way, without requiring new infrastructure or power cabinets (just add dispensers!). "This isn't incremental improvement—it's a fundamental reimagining of what's possible in EV charging. Start with what you need today, scale seamlessly as demand grows—without replacing your initial investment. That's the promise of TRI-FLEX.' 'We're at a pivotal moment in transportation history. The EV market is going to surge from early adoption to mainstream acceptance, with global sales of EVs set to hit 20% of all vehicles this year. By 2030, we're looking at 27 million EVs on U.S. roads alone, and a staggering 92 million by 2040. This isn't gradual growth – it's an electric avalanche. "Here's the challenge: today's charging infrastructure was built for yesterday's EV market. Current systems typically only scale to 8 charging points per power cabinet, require massive grid upgrades for expansion, and can't efficiently serve the growing diversity of vehicles from compact cars to commercial trucks. "The coming EV revolution can only move at the speed of its infrastructure. Without a fundamental shift in charging architecture, we'll hit a wall where EVs are increasingly popular but increasingly difficult to charge. TRI-FLEX removes this final barrier between early adoption and mainstream electrification, ensuring the infrastructure can actually keep pace with growing demand for a diverse set of electric vehicles.' 'Absolutely, customers can replace their existing charging infrastructure with TRI-FLEX, without upgrading their grid connection. That allows them to scale from 4 charging points to 64 charging points over time. "TRI-FLEX also has industry-leading power density of 512kW per square meter, which means it requires significantly less space than conventional systems. This is transformative for existing sites with limited real estate. "We're giving operators a clear upgrade path that transforms their sites gradually, responding to actual demand rather than speculation. No more "build it and hope they come" – just smart infrastructure that grows precisely when and how it's needed.' 'For EV drivers, this is about eliminating the last vestiges of range anxiety. Going forward, the biggest pain point won't be vehicle range – it will be finding available chargers when and where you need them. TRI-FLEX changes that equation by allowing for fast, cost-effective scaling of EV charging locations that can keep up with accelerating demand. "With up to 64 charging connections from a single system, the likelihood of waiting in line plummets. Our technology enables charging operators to install many more charging points in the same space with the same grid connection, dramatically increasing availability. "As the EV charging network expands into more diverse locations, reliability in extreme environments becomes crucial. Our fully sealed IP65-rated enclosures and advanced liquid cooling technology ensure consistent performance from Arctic cold to desert heat. This means TRI-FLEX will work in places where conventional chargers struggle but where drivers absolutely need dependable charging. When other systems might shut down in Phoenix's summer heat or Minneapolis's winter freeze, TRI-FLEX keeps delivering power.' 'This next-generation architecture has several patents pending. We've developed truly innovative approaches to power sharing, thermal management, and system integration that represent significant advances in the state of the art. The intellectual property portfolio we're building around TRI-FLEX will help secure Tritium's position at the forefront of charging technology for years to come. "We're taking orders today and expect to begin shipping next quarter. TRI-FLEX addresses the most pressing infrastructure challenges for charge point operators, fleet managers, and retail site developers, allowing for increased return on investment (ROI) and lower total cost of ownership (TCO). "It's worth remembering that Tritium has been a pioneer in DC fast charging for over a decade now. TRI-FLEX is just our latest innovation to keep powering the road forward.'
