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What: Shares of Westport Innovations (USA) (NASDAQ:WPRT) jumped as much as 16% today, continuing a great week for the natural gas technology company.

So what: Westport and Gazprom, the Russian energy company, have signed an agreement to develop natural gas vehicles in Russia. The deal even includes locating manufacturing of Westport's Emer brand in Russia.  

Gazprom already has 200 CNG stations with plans to add 300 more by 2020, so this could be a big opportunity if natural gas is adopted on a widespread basis in Russia.

Now what: This is an incremental positive for Westport Innovations, no doubt, but investors have heard big announcements like this before. Rather than buying on speculation of improved operations, I'd like to see revenue improve and continuing losses turn into profits before jumping in. Here's a bright spot to point to, just don't get too excited until Westport Innovations proves there will be financial progress because of a deal like this.

Travis Hoium has no position in any stocks mentioned. The Motley Fool recommends Westport Innovations. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.