Columbus, Indiana – Commercial vehicle powertrain supplier Cummins Inc. is forming a joint venture storage tank specialists NPROXX to create hydrogen storage systems for fuel-cell vehicles and other alternative power systems.
The joint venture will continue under the name NPROXX.
Cummins Chairman and CEO Tom Linebarger said, “To move toward a decarbonized future, the world will require multiple power solutions including advanced diesel, natural gas, electrified power, fuel cells, hybrids, and other solutions. Cummins is committed to leading the way and being the provider of choice. The addition of hydrogen storage to our existing capabilities in hydrogen production and fuel cells enables us to accelerate the viability and adoption of these technologies in commercial markets."
The joint venture will provide customers with hydrogen and compressed natural gas storage products for both on-highway and rail applications. The joint venture adds to Cummins rapidly growing hydrogen capabilities and is one of several actions taken in the past year to deepen the company’s capabilities in fuel cell and hydrogen production technologies.
The acquisition of Hydrogenics Corp. in September 2019, provided Cummins with proton exchange membrane (PEM), and alkaline fuel cells electrolyzers to generate hydrogen. Cummins has also invested in LOOP Energy, signed a memo of understanding with Hyundai Motor Co., and invested in the development of solid oxide fuel cells.
“Cummins has more than 2,000 fuel cell installations across a variety of on and off highway applications as well as more than 500 electrolyzer installations,” Linebarger addeded.
Cummins and NPROXX will each own half of the new joint venture. The formation of the joint venture is subject to regulatory approvals and customary closing conditions. The parties expect the transaction to close by the end of the first quarter of 2021.
NPROXX designs, develops, and manufactures Type 4 pressure vessels for the storage of hydrogen under high pressure. The carbon-fibre-reinforced polymer (CFRP) composite tank systems and tailor made solutions for hydrogen storage are suitable for heavy duty vehicles, busses, and ships.