The French industrial gases giant says the US
company will remain an electrolyser supplier to its hydrogen projects
US power equipment and engine maker Cummins has
taken 100% ownership of its electrolyser and fuel-cell subsidiary
Hydrogenics, after buying out Air Liquide’s 19% stake.
Indiana-based Cummins and the French industrial
gases company acquired Canadian electrolyser and fuel-cell maker
Hydrogenics in September 2019, which continued operations from its
headquarters in Mississauga under the Cummins brand name, with the
parent company consolidating its new subsidiary in its financial
statements.
Using Hydrogenics’ PEM technology, Cummins has
become one of the largest electrolyser makers in the world, with
around 3.5GW of annual production capacity in the works.
It is scaling up electrolyser production at Hydrogenics’ factory in
Oevel, Belgium, to 1GW; has begun production at a 500MW plant in
Foshan, China, as part of a joint venture called Cummins Enze with
Chinese oil giant Sinopec, and also at its 500MW production line in
Fridley, Minnesota; and is also constructing a 500MW factory in
Guadalajara, Spain, in a joint venture with Iberdrola. All three of
the new facilities are due to be eventually scaled up to 1GW.
“Cummins’ buyout [of Air Liquide’s stake] reinforces its commitment to
these technologies [electrolysers and fuel cells] and the increasing
importance they will play in creating value for all stakeholders and
decarbonizing our world. This move enables continued investment and
growth in hydrogen technologies to meet rapidly growing demand,” the
US company said in a statement.
Air Liquide said in a statement that its
divestment “reflects [its] strategy of regularly reviewing its
business portfolio.
“Under Cummins’ full ownership, Hydrogenics will remain one of Air
Liquide’s suppliers for electrolyzer projects,” it said, adding: “With
a large portfolio of technologies, Air Liquide is more than ever
committed to the development of hydrogen and the Group is a leader in
developing and operating large scale electrolyzers.”
Cummins is now marketing its electrolysers and fuel cells — and all
its zero-emission technologies — through a new brand name, Accelera.
Green Play Ammonia™, Yielder® NFuel Energy.
Spokane, Washington. 99212
www.exactrix.com
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