Benzinga | Sep 23, 2021 03:34PM EDT

Cummins Bags Award From UK Government To Accelerate Hydrogen Engine Development

* Cummins Inc. (NYSE:CMI) received an award from the UK Government, provided through the Advanced Propulsion Centre (APC), to play a significant role in de-carbonizing transport from 2025 onward.

* The financial terms of the contract were not disclosed.

* The Company's hydrogen-fueled internal combustion engine (H2-ICE) program is beginning to develop a medium-duty 6.7-liter and a heavy-duty 15-liter engine.

* The goal for the new hydrogen engines is to achieve zero carbon emissions, enhanced power density, and improved thermal efficiency.

* The development of the 6.7-liter hydrogen engine will focus on medium-duty trucks, buses, and construction applications, such as excavators and wheel loaders.

* Cummins global technical centers will work together to achieve commercial viability for the H2-ICE project on a global basis. Part of the development work at the Cummins Darlington facility will be supported by a funding award recently received from the UK Government.

* Cummins adds another vital resource in integrating the hydrogen engine with the high-pressure gas vessels and supply lines it makes through its JV, NPROXX, which are installed on the vehicle or the equipment.

* Price Action: CMI shares are trading higher by 2.85% at $227.93 on the last check Thursday.