Mike Wolanin | The Republic Cummins CEO Jennifer Rumsey gives the keynote speech during the Greater Columbus Economic Development Corporation’s annual meeting at The Commons in Columbus, Ind., Friday, Aug. 16, 2022.
Cummins Inc. said it plans to make a “major announcement” today about the company’s strategy to transition to a decarbonized future.
The Columbus-based company said in a press release that the announcement will be made this morning at an event at the Rubell Museum in Washington, D.C.
The event will feature remarks from Cummins President and CEO Jennifer Rumsey and Amy Davis, president of the company’s New Power business.
Cummins has gone to some lengths to publicize the announcement over roughly the past couple weeks, placing ads in The Republic and on billboards along Interstate 65. The company also has made a series of social media posts and a created page on its website drawing attention to the announcement.
A couple weeks ago, Cummins wrote on Twitter that “something big is happening! Join us on the road to our next breakthrough. Coming March 8, 2023.” An email alert that the company has sent out mentions a “huge announcement” scheduled for today.
“Witness history in the making,” the company states on its website. “After 100+ years of innovation, Cummins is at it again. Stay up to date with our latest breakthrough, coming March 8, 2023.”
Cummins has made a series of announcements over the past few years involving what the company has characterized as efforts to “meet the energy and environmental needs of the future,” including the testing of a hydrogen-fueled internal combustion engine.
The company said in its 2022 annual report that it currently in “the early stages of commercializing” at least some of the technologies in what it calls its new power business segment, which designs, manufactures, sells and supports hydrogen production solutions and electrified power systems, including battery, fuel cell and electric powertrain technologies.
The segment’s efforts are “primarily focused on the development of our electrolyzers for hydrogen production and electrified power systems and related components and subsystems,” the annual report states.
The new power segment reported $198 million in sales last year, up from $116 million in 2021, according to the company’s 2022 annual report. To put that figure in perspective, Cummins reported about $28 billion in revenue in 2022, according to the annual report.
The announcement is scheduled to start at 8:20 a.m. and will be livestreamed at https://now.cummins.com/nextbreakthrough.
