Cummins is set to purchase Westport Fuel Systems’ share in the companies joint venture in which Cummins will bolster its hydrogen expertise, revealed today (Feb 7).
With this, the joint venture will continue to operate however Cummins will be the sole owner of the company and look to accelerate its developments in the hydrogen economy.
As part of the agreement, Cummins also will buy Westport’s interest in the JV’s intellectual property, developed by the JV in support of the JV’s spark ignited engines, with proceeds to Westport of $20,000.
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