Cummins Inc. Corporate Office Building in downtown Columbus is shown in this file photo from April. Republic file photo
COLUMBUS, Ind. — Cummins Inc. (NYSE: CMI) and Westport Fuel Systems Inc. have agreed to a share purchase agreement for the sale of Westport’s stake in the Cummins Westport Joint Venture with Cummins continuing to operate the business as the sole owner. As previously reported, the Cummins Westport Inc. joint venture agreement terminated effective Dec. 31, 2021.
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 US$20,000,000.
Cummins and Westport have also agreed to conduct an initial technical assessment of Westport’s hydrogen high pressure direct injection system (“H2 HPDI™”) for potential use on CMI’s hydrogen applications.
For more, visit cummins.com.
