December 10, 2009 (FinancialWire) — Westport Innovations Inc. (TSX: WPT) (NASDAQ: WPRT) has priced an offering of common shares in the United States and Canada. Westport will offer 4.75 million common shares at a price of $10.50 per share, for gross proceeds of $49.9 million.

Jefferies & Co., Inc. (NYSE: JEF) is the sole book-running manager.

Westport has granted the underwriters of the offering an option to purchase an additional 712,500 common shares at the offering price during the period ending 30 days from the date of Westport’s final prospectus supplement filed in connection with the offering to cover over-allotments, if any. If the over-allotment option is exercised in full, gross proceeds of the offering will be approximately $57.4 million.

Vancouver-based Westport Innovations is a supplier of proprietary solutions that allow engines to operate on clean-burning fuels such as compressed natural gas, liquefied natural gas, hydrogen and biofuels such as landfill gas.

Cummins Westport Inc., Westport’s joint venture with Cummins Inc., manufactures and sells a range of low-emissions alternative fuel engines for commercial transportation applications such as trucks and buses. BTIC Westport Inc., Westport’s joint venture with Beijing Tianhai Industry Co. Ltd., manufactures and sells LNG fuel tanks for vehicles.

Westport’s joint venture with OMVL SpA, Juniper Engines Inc., offers light-duty LPG engine solutions for industrial applications such as forklifts.

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