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February 4, 2026

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Westport Announces $6.5 Million Milestone Payment From Light-Duty Divestiture

Investing 3 Mins Read

~ Previously announced Light-Duty divestiture providing non-dilutive capital that strengthens Westport’s cash position~

Westport Fuel Systems Inc. (‘Westport’) (TSX:WPRT Nasdaq: WPRT), a supplier of alternative fuel systems and components for the global transportation industry, today announced that it has received $6.5 million (Euro 5.5 million) as part of its previously announced sale of the Light-Duty segment. The escrow payment was triggered under the terms of the sale agreement following the achievement of a defined post-closing milestone.

‘This milestone payment reflects continued progress in the post-closing steps of our Light-Duty business divestiture,’ said Elizabeth Owens, Chief Financial Officer at Westport. ‘While additional payments are expected as the transaction phases are completed, this interim payment strengthens our cash position today to support ongoing operations and our strategic initiatives. We remain disciplined in executing the remaining elements of the divestiture process along with our ongoing operational efficiency improvements.’

Additional information relating to the Light-Duty divestiture can be found in news releases posted on Westport’s website HERE.

About Westport
Westport is a technology and innovation company connecting synergistic technologies to power a cleaner tomorrow. As a leading supplier of affordable, alternative fuel, low-emissions transportation technologies, we design, manufacture, and supply advanced components and systems that enable the transition from traditional fuels to cleaner energy solutions.

Our proven technologies support a wide range of clean fuels – including natural gas, renewable natural gas, and hydrogen – empowering OEMs and commercial transportation industries to meet performance demands, regulatory requirements, and climate targets in a cost-effective way. With decades of expertise and a commitment to engineering excellence, Westport is helping our partners achieve sustainability goals—without compromising performance or cost-efficiency – making clean, scalable transport solutions a reality.

Westport is headquartered in Vancouver, Canada. For more information, visit Westport.com.

Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements, including statements regarding the receipt and timing of additional milestone-based payments related to the divestiture of our Light-Duty business, the impact of the Euro 5.5 million escrow release disclosed herein, expectations regarding our cash position, and our ongoing operational and strategic initiatives, including efficiency improvements. These forward-looking 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 actual results to differ materially from those expressed or implied. These risks, uncertainties and assumptions include those related to the completion of remaining post-closing obligations connected to the Light-Duty divestiture, the timing and satisfaction of conditions required for any additional milestone payments, general economic conditions of and access to the capital and debt markets, solvency, governmental policies and regulation, foreign exchange rate fluctuations, supply-chain factors and other risks and assumptions described 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 of publication. 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. The contents of any website, RSS feed or twitter account referenced in this press release are not incorporated by reference herein.

Contact Information
Westport Investor Relations
T: +1 604-718-2046

        

News Provided by GlobeNewswire via QuoteMedia

This post appeared first on investingnews.com

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Politics

Lawmakers question whether US moving fast enough to capitalize on Hezbollah’s weakened state

Politics 3 Mins Read

A House Foreign Affairs Middle East and North Africa Subcommittee hearing on Tuesday underscored what lawmakers and witnesses repeatedly described as a ‘historic’ but ‘narrowing’ opportunity to weaken Hezbollah and restore Lebanese state sovereignty, while exposing sharp disagreement over whether current U.S. policy is moving fast or forcefully enough.

Opening the hearing, Chairman Mike Lawler, R-NY., said Lebanon is ‘at a crossroads’ following the Nov. 2024 Israel-Hezbollah ceasefire, arguing the moment offers ‘an unprecedented opportunity’ to help Lebanon ‘break free of the shackles of Iran’s malign influence.’ He warned, however, that progress has been uneven, saying implementation of the Lebanese Armed Forces’ has been ‘haphazard at best.’

The ranking member, Rep. Brad Sherman, D-Calif., struck a more confrontational tone toward the administration, warning that Hezbollah is already rebuilding and that U.S. policy risks squandering the moment.

‘There is a historic opportunity in Lebanon to disarm Hezbollah and remove its grip on the Lebanese state,’ he said. ‘That window of opportunity, however, is narrow. Hezbollah is working hard to rebuild, rearm and to reconstitute itself.’

He criticized cuts to non-security assistance and faulted comments by a Trump administration envoy who described Hezbollah as ‘a political party that also has a militant aspect to it,’ arguing such language ‘sent the wrong signals’ at a critical moment.

David Schenker, senior fellow at The Washington Institute for Near East Policy, testified that while Hezbollah has been weakened militarily, the pace of disarmament remains slow and obstructed.

‘The LAF has a presence in the south that it didn’t have prior to November 2024,’ Schenker said. ‘But they are not in control. Hezbollah still controls the region.’

Schenker said the obstacle is no longer capability but political will. ‘At this point, the question of disarmament is not a matter of capability but of will,’ he told lawmakers, warning that Hezbollah continues to thrive amid corruption and a cash-based economy.

Hanin Ghaddar, senior fellow at The Washington Institute for Near East Policy, said that even full weapons surrender would not dismantle Hezbollah’s power.

‘Hezbollah is not sustained by weapons alone,’ Ghaddar said. ‘It survives through an economic and political ecosystem that protects cash flows, penetrates state institutions and enables military rebuilding.’

She warned that Lebanon’s unregulated cash economy has become Hezbollah’s most durable asset. ‘Weapons can be collected, but money keeps flowing,’ Ghaddar said. ‘Disarmament without dismantling the cash economy… will not be durable.’

All three witnesses emphasized U.S. support should be tied to measurable performance such as progress on disarmament of Hezbollah and economic reform.

Schenker called for renewed sanctions against corrupt Lebanese officials, saying, ‘We should be sanctioning leaders right now… who are obstructing reform.’

Dana Stroul, director of research and senior fellow at The Washington Institute for Near East Policy, warned that Washington’s approach remains incomplete.

‘For the past year, U.S. policy has focused on Hezbollah disarmament, which is critical, but on its own is only a partial strategy,’ Stroul said.

She cautioned that upcoming parliamentary elections could either ‘strengthen or undermine the anti-Hezbollah government,’ calling it the ‘worst-case outcome’ if Hezbollah-aligned politicians retain power.

Ghaddar said Hezbollah’s weakening has shifted Lebanese public discourse. ‘The mythology of resistance has shattered,’ she said. ‘Peace is no longer taboo.’

She argued that normalization with Israel would raise the political cost of Hezbollah’s rearmament and help lock in reform. ‘Without a credible peace horizon, disarmament and economic reform will be temporary. With one, they become structural,’ Ghaddar said.

This post appeared first on FOX NEWS

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Business

Elon Musk’s SpaceX acquires xAI

Business 3 Mins Read

SpaceX on Monday acquired xAI, the artificial intelligence startup that also owns the X social media platform, in a deal combining two companies owned by Elon Musk.

Musk in a news release said that the combination would aim to pursue AI data centers in outer space.

The deal comes on the verge of SpaceX’s highly anticipated initial public offering, which is expected to occur later this year.

The deal creates ‘the most ambitious, vertically-integrated innovation engine on (and off) Earth, with AI, rockets, space-based internet, direct-to-mobile device communications and the world’s foremost real-time information and free speech platform,’ Musk said in a statement.

The combined company will become the world’s most valuable private company, worth more than $1.2 trillion, Bloomberg News reported. NBC News has not been able to verify the valuation, and the companies did not respond to requests for comment.

Musk went on to say that space would be a crucial avenue for building advanced artificial intelligence.

‘In the long term, space-based AI is obviously the only way to scale,’ Musk wrote. ‘The only logical solution therefore is to transport these resource-intensive efforts to a location with vast power and space.’

Musk also offered an ambitious timeline for starting to develop AI from space. He’s failed to meet many of the previous goals he set for his companies.

“My estimate is that within 2 to 3 years, the lowest cost way to generate AI compute will be in space,” he wrote in Monday’s news release.

SpaceX already conducts rocket tests using reusable parts, provides cellular phone and data services to T-Mobile customers, and is working with NASA to return humans to the moon in the near future.

Meanwhile, xAI, Musk’s bid to get in on the AI boom, has reportedly soared to a more than $200 billion valuation. Along the way, the company and its AI bot, Grok, have drawn criticism. Recently, the company limited its image generation technology after users said it was creating sexualized deepfakes. A number of state attorneys general and the European Union are investigating the company.

Musk’s companies have often been intertwined, but Monday’s deal brings them even closer together. Another one of Musk’s companies, Tesla, has invested in xAI and uses some of its technology.

Musk merged his social media site X with xAI in early 2025, but the tie-up between xAI and SpaceX marks the largest combination to date of Musk’s vast business projects.

Founded in 2002, SpaceX has helped catapult Musk to the ranking of richest person in the world, with a net worth of more than $670 billion. The company has quickly become a critical supplier of satellite-based internet around the world, with more than 9,000 satellites orbiting Earth, used by both consumers and governments. SpaceX also holds multiple NASA contracts.

This post appeared first on NBC NEWS

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