With this, the joint venture will continue to operate however Cummins will be the sole owner of the company and look to accelerate its developments in the hydrogen economy.
As part of the agreement, Cummins also will buy Westport’s interest in the JV’s intellectual property, developed by the JV in support of the JV’s spark ignited engines, with proceeds to Westport of $20,000.
Cummins and Westport have also agreed to conduct an initial technical assessment of Westport’s hydrogen high pressure direct injection system dubbed H2 HPDI™, for potential use on Cummins’ hydrogen applications.
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