Cummins Inc. 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.
As part of the deal, Cummins also will buy Westport’s interest in the joint venture’s intellectual property for $20 million and continue operate the joint venture as the sole owner, the company said Monday. The joint venture agreement ended Dec. 31, 2021.
The two companies have also agreed to conduct an initial technical assessment of Westport’s hydrogen high-pressure direct injection system for potential use in Cummins’ hydrogen applications.
