Cummins Inc. and NPROXX have agreed to form a joint venture to provide customers with hydrogen and compressed natural gas storage products for on-highway and rail applications.
NPROXX is a Dutch company that makes pressure vessels for hydrogen storage infrastructure, refueling stations and hydrogen-powered vehicles, according to its website.
Both companies will own 50% of the new joint venture and expect the transaction to close by the end of the first quarter 2021, Cummins said in a statement.
“We are thrilled to combine Cummins’ expertise, innovation and commitment to customer success with NPROXX’s leading hydrogen storage technologies,” said Cummins Chairman and CEO Tom Linebarger in a statement. “In order to move toward a decarbonized future, the world will require multiple power solutions including advanced diesel, natural gas, electrified power, fuel cells, hybrids and other solutions and Cummins is committed to leading the way and being the provider of choice. The addition of hydrogen storage to our existing capabilities in hydrogen production and fuel cells enables us to accelerate the viability and adoption of these technologies in commercial markets.”
The joint venture is the latest addition to Cummins’ capabilities in fuel cell and hydrogen production technologies, Cummins said.
The Columbus-based company acquired Hydrogenics Corp. this past September, which provided Cummins with fuel cell and hydrogen production technologies.
Also in September, Cummins signed a memorandum of understanding with Hyundai to jointly develop and commercialize electric and fuel cell powertrains.
“Cummins has more than 2,000 fuel cell installations across a variety of on and off highway applications as well as more than 500 electrolyzer installations,” Linebarger said. “We continue to increase our capabilities in fuel cell technologies, and this partnership with NPROXX is another step forward. We look forward to partnering closely with NPROXX’s team as we work towards closing this transaction.”
