Columbus-based Cummins Inc. (NYSE: CMI) is partnering with Chevron Corp. (NYSE: CVX) for what they are calling a strategic collaboration on hydrogen. The companies have inked a Memorandum of Understanding to explore an alliance to develop “commercially viable business opportunities in hydrogen and other alternative energy sources.”
With the MOU in place, Cummins and Chevron say they will initially collaborate on four main objectives:
- Advancing public policy that promotes hydrogen as a decarbonizing solution for transportation and industry
- Building market demand for commercial vehicles and industrial applications powered by hydrogen
- Developing infrastructure to support the use of hydrogen for industry and fuel cell vehicles
- Exploring opportunities to leverage Cummins electrolyzer and fuel cell technologies at one or more of Chevron’s domestic refineries.
Andy Walz, president of Chevron’s Americas Fuels & Lubricants, says the collaboration is a positive step toward building a large-scale business in a lower-carbon area. Amy Davis, president of new power at Cummins, says working with Chevron will help the company continue toward its goal of enabling a carbon-neutral world.
“The energy transition is happening, and we recognize the critical role hydrogen will play in our energy mix,” Davis said in a news release. “We’ve deployed more than 2,000 fuel cells and 600 electrolyzers around the world and are exploring other hydrogen alternatives including a hydrogen-fueled internal combustion engine as we continue to accelerate and harness hydrogen’s powerful potential.”
The companies did not provide a time frame for completing their objectives.