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Cummins Invests in Second Fuel Cell Company
Cummins Inc. has made an unspecified investment in Loop Energy, a British Columbia, Canada-based developer of fuel cell range-extender modules for commercial trucks.
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Cummins Inc. has made an unspecified investment in Loop Energy, a British Columbia, Canada-based developer of fuel cell range-extender modules for commercial trucks.
As part of the deal, Loop will supply Cummins with a fuel cell stack for use in demonstration trucks.
Loop claims its fuel cells business, which was formed 15 years ago as PowerDisc Development, provides improved power density and cost benefits over those of competitors.
The Loop Energy investment follows the completion of Cummins’ acquisition of another Canadian fuel cell company, Ontario-based Hydrogenics Corp., earlier this month. The $290 million deal gives Cummins an 81% stake in Hydrogenics, with French hydrogen supplier Air Liquide SA holding the remaining 19%.
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