Westport Innovations Inc. (WPT) rose the most in almost three years after the maker of natural-gas engines said it’s working with Royal Dutch Shell Plc (RDSA) to market the benefits of liquefied natural gas-powered vehicles to consumers.
Westport, which has not reported an annual profit since its initial public offering in 1997, rose $4.42, or 19 percent, to $27.24 at 4 p.m. in Nasdaq Stock Exchange composite trading, the biggest gain since November 2008. The shares have risen 47 percent this year.
The companies said they will focus their marketing on North America initially. Westport, based in Vancouver, develops truck engines. Shell, based in The Hague, is Europe’s largest oil company.
“As a result of this initiative, we believe the use of natural gas as a fuel for transportation will accelerate,” David Demers, Westport’s chief executive officer, said in the statement.
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