Mike Wolanin | The Republic An exterior view of Cummins Columbus Engine Plant in Columbus, Ind., Friday, Oct. 7, 2022.
Cummins Inc. has announced that it has acquired a minority stake in Exergy Engery LLC.
The partnership between the two companies allows for the installation of Cummins power system solutions — including generator sets, energy storage systems and switching equipment — at the customer location to power the entire operation during grid outages or times of peak usage with no upfront capital expenditures by the customer.
Exergy Energy is a software and asset management firm with offices in New York City; Berkeley, California; and Alexandria, Virginia, according to its website.
Cummins did not disclose the terms of the investment.
“Cummins is committed to helping its customers meet their resiliency and sustainability goals,” said Wissam Balshe, business director of Cummins’ energy management solutions business, said in a statement. “We recognize that the upfront capital expense of a generator set and power system components, coupled with the complexity of participating in grid services was causing organizations to avoid the difficult decision of finding a solution.”
Exergy Energy installs, owns and operates backup generator sets that are sized to power 100% of a facility’s load during times of power outages and peak utility usage, Cummins said.
The energy company’s software monitors the grid, and during periods of peak usage, automatically shifts loads to the backup power system before an outage or peak demand changes occur.
“We appreciate the confidence the Cummins has shown in Exergy and our services platform, and we look forward to helping customers meet their resiliency and sustainability needs with no upfront cost,” Exergy Energy CEO Dave March said in a statement.
