Cummins and Versatile Hydrogen Engine Collaboration Announced
29 Août 2022 - 9:00PM
Business Wire
Cummins Inc. (NYSE: CMI) and Buhler Industries Inc. (TSX: BUI),
a leading tractor manufacturer under the Versatile brand, announced
today that they have signed a letter of intent and plans to
integrate the Cummins 15-liter hydrogen engines in Versatile’s
equipment to lead the decarbonization of the agriculture
market.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20220829005587/en/
(Photo: Business Wire)
Versatile is a longstanding manufacturer in the agriculture
space with a reputation for excellence in tractors,” said Ann
Schmelzer, General Manager Cummins Global Agriculture Business.
“Our companies share a commitment to technology, quality and
dependability for our customers. Cummins is excited to be working
with Versatile as we leverage our respective strengths to create
new opportunities for both companies.”
Since 1967, Versatile has used Cummins engines exclusively in
all four-wheel drive tractors. For decades, both Versatile and
Cummins have been leaders in technology innovation and delivering
reliable performance to farmers across the globe. Each company is
uniquely positioned to build on their exceptional histories in
agriculture as they step forward into new powertrain
technologies.
“While diesel engines continue to be the flexible power of
choice for the foreseeable future in agriculture, such a
collaboration enables both companies to develop low and zero carbon
solutions that are ideally suited to farming,” said Adam Reid,
Versatile’s Vice-President of Sales and Marketing.
“Cummins has recently announced its plan to leverage existing
platforms and expertise in spark ignited technology to build
hydrogen engines. The high commonality among engine components
between diesel and hydrogen leverages scale advantages for OEMs,
while delivering the reliability that farmers need,” added
Schmelzer.
Hydrogen combustion engines will provide a cost effective
zero-carbon fueled solution for high load factor and high
utilization applications. Key benefits of using this technology
include enabling a more-timely solution to reduce carbon emissions
without sacrificing productivity. It minimizes the impact on the
machine design for manufacturers, allowing common parts and
components across platforms to drive scale advantages, reducing
costs. When integrated in farm equipment, farmers will have a
solution that is dependable, as well as easy to service and
maintain.
About Cummins Inc.
Cummins Inc., a global power leader, is a corporation of
complementary business segments that design, manufacture,
distribute and service a broad portfolio of power solutions. The
company’s products range from diesel, natural gas, electric and
hybrid powertrains and powertrain-related components including
filtration, aftertreatment, turbochargers, fuel systems, controls
systems, air handling systems, automated transmissions, electric
power generation systems, batteries, electrified power systems,
hydrogen generation and fuel cell products. Headquartered in
Columbus, Indiana (U.S.), since its founding in 1919, Cummins
employs approximately 59,900 people committed to powering a more
prosperous world through three global corporate responsibility
priorities critical to healthy communities: education, environment
and equality of opportunity. Cummins serves its customers online,
through a network of company-owned and independent distributor
locations, and through thousands of dealer locations worldwide and
earned about $2.1 billion on sales of $24.0 billion in 2021. See
how Cummins is powering a world that’s always on by accessing news
releases and more information at
https://www.cummins.com/always-on.
Forward-looking disclosure statement
Information provided in this release that is not purely
historical are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, including
statements regarding our forecasts, guidance, preliminary results,
expectations, hopes, beliefs and intentions on strategies regarding
the future. These forward-looking statements include, without
limitation, statements relating to our plans and expectations for
our revenues and EBITDA. Our actual future results could differ
materially from those projected in such forward-looking statements
because of a number of factors, including, but not limited to: any
adverse results of our internal review into our emissions
certification process and compliance with emission standards;
increased scrutiny from regulatory agencies, as well as
unpredictability in the adoption, implementation and enforcement of
emission standards around the world; changes in international,
national and regional trade laws, regulations and policies; any
adverse effects of the U.S. government's COVID-19 vaccine mandates;
changes in taxation; global legal and ethical compliance costs and
risks; increasingly stringent environmental laws and regulations;
future bans or limitations on the use of diesel-powered products;
any adverse effects of the conflict between Russia and Ukraine and
the global response (including government bans or restrictions on
doing business in Russia); failure to successfully execute or
integrate the acquisition of Meritor, Inc.; failure to realize all
of the anticipated benefits from our announced acquisition of
Meritor, Inc.; raw material, transportation and labor price
fluctuations and supply shortages; aligning our capacity and
production with our demand; the actions of, and income from, joint
ventures and other investees that we do not directly control; large
truck manufacturers' and original equipment manufacturers'
customers discontinuing outsourcing their engine supply needs or
experiencing financial distress, bankruptcy or change in control;
product recalls; variability in material and commodity costs; the
development of new technologies that reduce demand for our current
products and services; lower than expected acceptance of new or
existing products or services; product liability claims; our sales
mix of products; failure to complete, adverse results from or
failure to realize the expected benefits of the separation of our
filtration business; our plan to reposition our portfolio of
product offerings through exploration of strategic acquisitions and
divestitures and related uncertainties of entering such
transactions; challenging markets for talent and ability to
attract, develop and retain key personnel; climate change and
global warming; exposure to potential security breaches or other
disruptions to our information technology environment and data
security; political, economic and other risks from operations in
numerous countries including political, economic and social
uncertainty and the evolving globalization of our business;
competitor activity; increasing competition, including increased
global competition among our customers in emerging markets; labor
relations or work stoppages; foreign currency exchange rate
changes; the performance of our pension plan assets and volatility
of discount rates; the price and availability of energy; continued
availability of financing, financial instruments and financial
resources in the amounts, at the times and on the terms required to
support our future business; and other risks detailed from time to
time in our SEC filings, including particularly in the Risk Factors
section of our 2021 Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q. Shareholders, potential investors and other
readers are urged to consider these factors carefully in evaluating
the forward-looking statements and are cautioned not to place undue
reliance on such forward-looking statements. The forward-looking
statements made herein are made only as of the date of this press
release and we undertake no obligation to publicly update any
forward-looking statements, whether as a result of new information,
future events or otherwise. More detailed information about factors
that may affect our performance may be found in our filings with
the SEC, which are available at http://www.sec.gov or at http://www.cummins.com in the Investor Relations
section of our website.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220829005587/en/
Sarah Finley-Gilman, Marketing Communications
Manager-Agriculture 317-514-8826
Sarah.finley-gilman@cummins.com
BlackRock Utility Infras... (NYSE:BUI)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
BlackRock Utility Infras... (NYSE:BUI)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024