Cummins has successfully closed its previously announced NPROXX joint venture with ETC for the development of hydrogen storage products.
First announced in June, the joint venture will focus on the development of hydrogen products for both highway and rail applications.
Read more: Cummins and NPROXX to form joint venture
Amy Davis, Vice-President and President, New Power at Cummins, said, “NPROXX’s leading hydrogen storage products are an exciting complement to our broad and differentiated hydrogen portfolio.”
“Many companies aspire to shape tomorrow’s hydrogen economy, but very few have all of the elements required. We are excited to bring together Cummins’ 100 years of experience in launching new products, partnerships and customer support with NPROXX’s innovative hydrogen storage tank solutions.”
Rainer vor dem Esche, Managing Director, NPROXX, added, “We admire Cummins’ scale advantage, global reach and deep understanding of their customers, and our teams are united in our shared commitment to unlock the potential of hydrogen.”
“Together, we can provide unique and reliable hydrogen storage options that will accelerate the availability of hydrogen solutions for our customers.”
Cummins and ETC will each own 50% of the new joint venture. The unconsolidated joint venture results will be included as part of Cummins’ New Power business segment.
H2 View will today be reporting on the Cummins Hydrogen Day, where discussions will be based on how hydrogen is enabling a shift in the future of energy and transportation. All highlights from the discussion will be shared on the H2 View site later today.
Coming soon: An interview with Amy Adams, Vice-President and President, New Power at Cummins.