Chevron U.S.A. Inc., through its Chevron Products Company
division (Chevron), and Cummins Inc., (NYSE: CMI) a global power
and hydrogen technologies leader, announced a memorandum of
understanding (MOU) to explore a strategic alliance to develop
commercially viable business opportunities in hydrogen and other
alternative energy sources.
The MOU provides the framework for Chevron and Cummins to
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; and exploring opportunities to
leverage Cummins electrolyzer and fuel cell technologies at one or
more of Chevron’s domestic refineries.
“Chevron is committed to developing and delivering affordable,
reliable, ever-cleaner energy, and collaborating with Cummins is a
positive step toward our goal of building a large-scale business in
a lower-carbon area that is complementary to our current
offerings,” said Andy Walz, president of Chevron’s Americas Fuels
& Lubricants. “Hydrogen is just one lower-carbon solution we
are investing in that will position our customers to reduce the
carbon intensity of their businesses and everyday lives. We’ve also
invested in developing and supplying renewable natural gas,
blending renewables into our fuels, coprocessing biofeedstocks in
our refineries, and abatement projects that will reduce the carbon
intensity of our operations.”
“Working with Chevron to advance hydrogen technology and
accelerate ecosystem development helps us continue our goal in
enabling a carbon-neutral world,” said Amy Davis, vice president
and president of New Power at Cummins. “The energy transition is
happening, and we recognize the critical role hydrogen will play in
our energy mix. 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.”
About Chevron
Chevron is one of the world’s leading integrated energy
companies. We believe affordable, reliable and ever-cleaner energy
is essential to achieving a more prosperous and sustainable world.
Chevron produces crude oil and natural gas; manufactures
transportation fuels, lubricants, petrochemicals and additives; and
develops technologies that enhance our business and the industry.
To advance a lower-carbon future, we are focused on cost
efficiently lowering our carbon intensity, increasing renewables
and offsets in support of our business, and investing in low-carbon
technologies that enable commercial solutions. More information
about Chevron is available at www.chevron.com.
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 57,800 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 $1.8 billion on sales of $19.8 billion in 2020. Learn
more at cummins.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210715005048/en/
Jon Mills Cummins Inc. Phone: 317-658-4540 Email: jon.mills@cummins.com Tyler Kruzich Chevron Phone:
925-549-8686 Email: tkruzich@chevron.com
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