Cummins Inc. (NYSE: CMI) announced that it closed on the previously announced NPROXX joint venture with ETC for hydrogen storage tanks.
“NPROXX’s leading hydrogen storage products are an exciting complement to our broad and differentiated hydrogen portfolio,” said Amy Davis, Vice President and President, New Power at Cummins Inc. “Many companies aspire to shape tomorrow’s hydrogen economy, but very few have all of the elements required. We are excited to bring together Cummins’ 100 years of experience in launching new products, partnerships and customer support with NPROXX’s innovative hydrogen storage tank solutions.”
The joint venture will provide customers with hydrogen products for both on-highway and rail applications. Leveraging more than 40 years of centrifuge technology from ETC, NPROXX has been supplying carbon fiber tanks for more than two years with products in bus, truck, train and other on-highway applications.
“We admire Cummins’ scale advantage, global reach and deep understanding of their customers, and our teams are united in our shared commitment to unlock the potential of hydrogen,” said Rainer vor dem Esche, Managing Director, NPROXX. “Together, we can provide unique and reliable hydrogen storage options that will accelerate the availability of hydrogen solutions for our customers.”
NPROXX’s type 4 hydrogen pressure vessels are equipped to serve a wide range of industries, including commercial vehicles, passenger vehicles, trains and refueling infrastructure applications. The technology can also be modified for use in multiple fuel types, including natural gas.
Cummins and ETC will each own 50 percent of the new joint venture. The unconsolidated joint venture results will be included as part of Cummins’ New Power business segment, led by Davis.
Cummins is quickly emerging as the hydrogen leader for commercial and industrial industries. To date, the company has more than 500 electrolyzer installations and 2,000 fuel cell installations worldwide. Its electrolyzers are in fueling stations on five continents, including the first fueling stations in Scotland, Sweden, Norway and Southeast Asia.