Columbus-based Cummins Inc. (NYSE: CMI) is continuing its exploration and growth in the hydrogen energy sector with the closing of a joint venture with NPROXX, an energy technology company based in The Netherlands.
In June, Cummins announced the JV with the European company that specializes in high-pressure hydrogen storage.
Each company will own a 50% stake in the joint enterprise.
Still operating under the NPROXX name, the new company will provide customers with hydrogen and compressed natural gas storage products for both on-highway and rail applications.
“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,” said Amy Davis, president of the new power division at Cummins.
NPROXX has been supplying carbon fiber tanks for more than two years with products in bus, truck, train and other on-highway applications.
Cummins says the technology can also be used for natural gas storage.