The joint venture adds to rapidly gro wing hydrogen capabilities at Cumminsand is one of several actions taken in the past year to deepen the company’s capabilities in fuel cell and hydrogen production technologies
Cummins Inc. has signed an agreement to form a joint venture with NPROXX, a leader in hydrogen storage and transportation, for hydrogen storage tanks. The joint venture will provide customers with hydrogen and compressed natural gas storage products for both on-highway and rail applications. Cummins has more than 2,000 fuel cell installations across a variety of on and off highway applications as well as more than 500 electrolyser installations.
It is a known fact that the world will require multiple power solutions including advanced diesel, natural gas, electrified power, fuel cells, hybrids and other solutions Cummins and NPROXX will each own 50 percent of the new joint venture that will be named NPROXX. The acquisition of Hydrogenics Corporation in September 2019, provided Cummins with both proton exchange membrane (PEM), and alkaline fuel cells electrolysers to generate hydrogen. Cummins has also invested in LOOP Energy, signed a memo of understanding with Hyundai Motor Company and invested in the development of solid oxide fuel cells.
Tom Linebarger, Chairman & CEO, Cummins Inc., said the addition of hydrogen storage to Cummins’ existing capabilities in hydrogen production and fuel cells will enable the company to accelerate the viability and adoption of these technologies in commercial markets.
Rainer vor dem Esche, Managing Director, NPROXX, said partnering with Cummins to provide reliable hydrogen storage options will allow the customers to unlock the potential for hydrogen.
The formation of the joint venture is subject to regulatory approvals and customary closing conditions. The transaction is expected to close by the end of the first quarter of 2021.