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Cummins buys 50% stake in hydrogen storage specialist NPROXX

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By Jim Gibbins - 1st December 2020

USA / The Netherlands - Cummins Inc of Columbus, Indiana, USA has concluded the previously announced (June 2020) agreement with Dutch hydrogen storage tank manufacturer, NPROXX BV of Heerlen, The Netherlands, to form a new joint venture company for manufacturing hydrogen storage tanks.

Cummins and the holding company of NPROXX called ETC (Enrichment Technology Company) now each own 50% of the new joint venture, which continues under the name of NPROXX. The unconsolidated joint venture results will be included as part of Cummins’ New Power business segment.

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