Westport Innovations Inc. has acquired Alternative Fuel Vehicle Sweden AB (AFV) of Gothenburg, Sweden, for approximately $7.6 million. AFV is the sole supplier of natural gas fuel systems to Volvo Car Co. (VCC).
Founded in 2009 by a team of former Volvo employees, AFV builds and installs the natural gas systems at facilities located inside VCC's main production center in Gothenburg. In addition to close ties to management at both VCC and heavy-duty vehicle producer Volvo AB, AFV has had support from Swedish energy supplier GÃ¶teborg Energi.
Westport says the acquisition creates ‘a highly competitive new OEM for Europe, as well as proven OEM-level validation and integration capabilities and a high performance system.’