Cummins Inc. - CMI STOCK NEWS

Cummins Inc. highlights the success story of Aidan, a Level Two Engine Field Service Technician who graduated from their Technician Apprentice Program (TAP). After joining in July 2019, Aidan completed his Associate of Applied Science in Diesel Systems Technology as valedictorian and now specializes in Accelera products and zero-emission technologies. His role involves diagnostics, repairs, and customer service, contributing to Cummins' transition toward sustainable transportation solutions. The company emphasizes its commitment to developing cleaner technologies through its comprehensive portfolio of power solutions, including internal combustion, electric, and hybrid integrated systems.

Marina Savelli, a 30-year veteran at Cummins Inc., has been appointed as Vice President of the Engine Business Off-Highway Markets. Throughout her career, she has held various roles globally, notably leading Filtration Latin America in Brazil where she doubled the company size. Born and raised in Brazil, Marina's Hispanic heritage has influenced her leadership style and business approach. Her achievements include expanding operations, adding a second shift to the plant in Brazil, and contributing to Cummins' growth across different functions. Marina emphasizes the importance of delivering results, being curious, and networking for career development.

Cummins highlights the importance of specialized turbochargers for natural gas engines, which differ significantly from diesel engine turbos. Natural gas turbochargers are designed for stoichiometric burn (1:1 air-to-fuel ratio) and require smaller sizes due to lower air requirements. They must withstand higher operating temperatures, featuring water-cooled bearing housings and high-temperature materials at the turbine stage. The company's Holset® turbos address specific challenges like high-altitude performance and material selection, particularly important for markets like China where engines often operate at elevated altitudes. While initial costs may be higher, these turbochargers offer lower total operational costs and better emissions compliance.

Cummins India has launched REDEFINE 2024, its annual B-school case study competition, engaging 18 premier business schools across India. The competition focuses on how digital solutions can advance sustainability in traditional businesses, particularly emphasizing ESG reporting and emissions reduction. Open to first and second-year MBA students, the competition will conclude with a grand finale at Cummins India's Pune campus on November 14-15, 2024.

The winning team will receive a cash prize and access to Cummins India's mentorship program. Last year's competition saw participation from 3,752 students across 938 teams. The initiative aims to challenge aspiring business leaders to address real-world sustainability challenges through digital innovation.

Cummins Inc. reports significant progress in reducing Volatile Organic Compounds (VOC) emissions, achieving a 35% reduction as of 2023 towards their 2030 goal of 50% reduction from 2018 levels. Over 70% of the company's VOC emissions come from painting and coating processes. The company implements various reduction strategies including: eliminating paint usage where possible, switching to waterborne paints, and optimizing painting processes. Notable achievements include a 69% VOC reduction at the Daventry Engine Plant and development of new paint filters at Jamestown Engine Plant reducing waste by 30%. The Darlington Engine Plant aims for 70% VOC reduction through water-based paint conversion.

Cummins has announced a new partnership with the Arbor Day Foundation to plant 315,000 seedlings in the Mississippi River Valley Region and across North America. The initiative aims to sequester over 200,000 metric tons of CO2 over 40 years and provide 100M gallons of annual water benefits. The project includes local community planting opportunities, with Cummins employees recently planting 30 trees at Island Lake County Park in Shoreview, Minnesota. The reforestation effort will support habitat creation, water quality improvements, climate change mitigation, and erosion control.

Cummins Inc. outlines its strategy for navigating the energy transition through tech neutrality and its Destination Zero initiative. The company emphasizes that unlike passenger vehicles, commercial and industrial applications require diverse decarbonization solutions. Through its broad portfolio approach, Cummins aims to reduce cumulative carbon by an estimated 1.4 gigatons. The strategy includes advancing both traditional technologies like fuel-agnostic internal combustion engines and new zero-emissions solutions through Accelera. The company highlights how different markets, from buses to mining trucks to long-haul vehicles, require tailored solutions based on their unique operational demands and infrastructure requirements.

Cummins is preparing for the EPA 2027 emission standards, which will reduce nitrogen oxide (NOx) emissions by over 80%. The company introduces the Twin Module, a new aftertreatment architecture featuring a 48V alternator-powered electric heating system, designed to work with the EPA 2027 X15 engine. The system maintains engine performance while meeting stricter emissions requirements.

For the European market, Cummins is developing solutions for Euro 7 regulations starting in 2027, which require significant NOx and particulate number reductions. The company must also address VECTO requirements targeting a 45% CO2 reduction by 2030, supporting various powertrain solutions including clean diesel, hybrid, BEV, and hydrogen technologies.

Cummins (NYSE:CMI) has extended its grant to The 15 White Coats to support the Resilient Readers Book Club and launch new Virtual Readers Club volunteer opportunities. The partnership, established in 2023 through Cummins' CARE initiative, provides culturally relevant African American literature to school-age children. The 15 White Coats, founded in 2019, has awarded over $500,000 in scholarships to more than 2,000 healthcare students. The program, initially piloted in Indianapolis' Martindale-Brightwood area, is now expanding nationwide, allowing anyone to send book boxes to classrooms, organizations, or families across the US.