Columbus-based Cummins Inc. (NYSE: CMI) is expanding its footprint in the use of compressed natural gas to power large, heavy-duty trucks. The company has signed a letter of intent to acquire a 50% equity interest in Texas-based Momentum Fuel Technologies, which has developed CNG fuel systems for Class 6-8 trucks.
Momentum is a subsidiary of Rush Enterprises (Nasdaq: RUSHA & RUSHB), which is headquartered in Dallas.
The joint venture will produce Cummins-branded natural gas fuel delivery systems for the commercial vehicle market in North America.
“This collaboration shows Cummins’ continued commitment to natural gas powertrains,” said Srikanth Padmanabhan, president of the Engine Business at Cummins. “This partnership will improve customers service for both CNG and RNG through an improved support network. We are thrilled to expand our network of clean and reliable power solutions.”
Rush Enterprises operates Rush Truck Centers, a network of more than 100 commercial vehicle dealerships and repair centers. Cummins says the partnership will provide truck operators further access to CNG vehicle parts and technicians.