By Michael Dabaie
Cummins Inc. said it signed a memorandum of understanding with Chevron U.S.A. Inc. on developing 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. These are: 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 for the use of hydrogen for industry and fuel cell vehicles; and looking at using Cummins electrolyzer and fuel cell technologies at one or more of Chevron's domestic refineries.
"The energy transition is happening, and we recognize the critical role hydrogen will play in our energy mix," said Amy Davis, vice president and president of New Power at Cummins.
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(END) Dow Jones Newswires
July 15, 2021 08:11 ET (12:11 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.