Cummins Acquires First Mode Assets for Decarbonization Leadership in Mining
Cummins Inc. (NYSE: CMI) has announced the acquisition of First Mode's assets, a leader in retrofit hybrid solutions for mining and rail operations. The acquisition encompasses hybrid mining and rail product lines, along with the complete IP portfolio including hydrogen and battery powertrain solutions.
The deal includes First Mode's commercial portfolio, manufacturing and technical teams across Australia, United States, and Chile. The technology represents the first commercially available retrofit hybrid system for mining equipment, promising reduced total cost of ownership while advancing decarbonization efforts.
First Mode will continue serving customers through the transition, with product shipments expected in Q1. The acquired operations will be integrated into Cummins' Power Systems industrial segment, strengthening the company's position in providing decarbonization solutions for the mining industry through product hybridization and clean fuels such as ethanol and methanol.
Cummins Inc. (NYSE: CMI) ha annunciato l'acquisizione degli asset di First Mode, leader nelle soluzioni ibride retrofit per le operazioni minerarie e ferroviarie. L'acquisizione comprende le linee di prodotti ibride per il settore minerario e ferroviario, insieme al portafoglio IP completo che include soluzioni a idrogeno e powertrain a batteria.
L'accordo include il portafoglio commerciale di First Mode, i team di produzione e tecnici presenti in Australia, Stati Uniti e Cile. La tecnologia rappresenta il primo sistema ibrido retrofit commercialmente disponibile per l'equipaggiamento minerario, promettendo una riduzione del costo totale di proprietà e contribuendo agli sforzi di decarbonizzazione.
First Mode continuerà a servire i clienti durante la transizione, con le spedizioni dei prodotti previste per il primo trimestre. Le operazioni acquisite saranno integrate nel segmento industriale Power Systems di Cummins, rafforzando la posizione dell'azienda nell'offerta di soluzioni di decarbonizzazione per l'industria mineraria attraverso l'ibridazione dei prodotti e l'uso di combustibili puliti come etanolo e metanolo.
Cummins Inc. (NYSE: CMI) ha anunciado la adquisición de los activos de First Mode, líder en soluciones híbridas retrofitting para operaciones mineras y ferroviarias. La adquisición abarca líneas de productos híbridos para minería y ferrocarriles, junto con una completa cartera de propiedad intelectual que incluye soluciones de tren motriz de hidrógeno y batería.
El acuerdo incluye la cartera comercial de First Mode, así como equipos de fabricación y técnicos en Australia, Estados Unidos y Chile. La tecnología representa el primer sistema híbrido retrofit disponible comercialmente para equipos mineros, prometiendo reducir el costo total de propiedad mientras se avanza en los esfuerzos de descarbonización.
First Mode continuará atendiendo a los clientes durante la transición, con envíos de productos esperados para el primer trimestre. Las operaciones adquiridas se integrarán en el segmento industrial Power Systems de Cummins, fortaleciendo la posición de la empresa en la provisión de soluciones de descarbonización para la industria minera mediante la hibridación de productos y el uso de combustibles limpios como etanol y metanol.
커민스 인크. (NYSE: CMI)이 광업 및 철도 운영을 위한 레트로핏 하이브리드 솔루션의 선두주자인 First Mode의 자산 인수를 발표했습니다. 이번 인수는 하이브리드 광업 및 철도 제품 라인을 포함하며, 수소 및 배터리 파워트레인 솔루션을 포함한 완전한 지적 재산 포트폴리오를 포함합니다.
이 거래에는 호주, 미국 및 칠레에 있는 First Mode의 상업 포트폴리오, 제조 및 기술 팀이 포함됩니다. 이 기술은 광산 장비를 위한 최초의 상업적으로 이용 가능한 레트로핏 하이브리드 시스템을 나타내며, 총 소유 비용을 줄이면서 탈탄소화 노력을 진전시키겠다는 약속을 합니다.
First Mode는 전환 기간 동안 고객에게 서비스를 지속할 것이며, 제품 출하는 1분기에 예정되어 있습니다. 인수된 운영은 커민스의 파워 시스템 산업 부문에 통합되어, 제품 하이브리드화 및 에탄올과 메탄올과 같은 청정 연료를 통해 광업 산업에 대한 탈탄소화 솔루션을 제공하는 회사의 입지를 강화할 것입니다.
Cummins Inc. (NYSE: CMI) a annoncé l'acquisition des actifs de First Mode, un leader dans les solutions hybrides retrofit pour les opérations minières et ferroviaires. L'acquisition englobe des lignes de produits hybrides pour le secteur minier et ferroviaire, ainsi qu'un portefeuille de propriété intellectuelle complet incluant des solutions de motorisation à hydrogène et à batterie.
L'accord inclut le portefeuille commercial de First Mode, ainsi que des équipes de fabrication et techniques en Australie, aux États-Unis et au Chili. La technologie représente le premier système hybride retrofit disponible sur le marché pour l'équipement minier, promettant une réduction du coût total de possession tout en faisant progresser les efforts de décarbonisation.
First Mode continuera à servir ses clients pendant la transition, avec des expéditions de produits attendues au premier trimestre. Les opérations acquises seront intégrées dans le segment industriel Power Systems de Cummins, renforçant ainsi la position de l'entreprise dans la fourniture de solutions de décarbonisation pour l'industrie minière grâce à l'hybridation des produits et à l'utilisation de combustibles propres comme l'éthanol et le méthanol.
Cummins Inc. (NYSE: CMI) hat die Übernahme der Vermögenswerte von First Mode angekündigt, einem führenden Anbieter von Retrofit-Hybridlösungen für Bergbau- und Schienenbetrieb. Die Übernahme umfasst hybride Produktlinien für den Bergbau und die Bahn sowie das vollständige IP-Portfolio, das Wasserstoff- und Batterieantriebslösungen einschließt.
Das Geschäft umfasst das kommerzielle Portfolio von First Mode sowie Fertigungs- und Technikteams in Australien, den Vereinigten Staaten und Chile. Die Technologie stellt das erste kommerziell verfügbare Retrofit-Hybridsystem für Bergbaugeräte dar und verspricht, die Gesamtkosten des Eigentums zu senken und gleichzeitig die Dekarbonisierungsbemühungen voranzutreiben.
First Mode wird auch während des Übergangs weiterhin Kunden bedienen, wobei die Produktlieferungen für das erste Quartal erwartet werden. Die übernommenen Aktivitäten werden in den industriellen Sektor Power Systems von Cummins integriert, wodurch die Position des Unternehmens bei der Bereitstellung von Dekarbonisierungslösungen für die Bergbauindustrie durch Produkt-Hybridisierung und saubere Brennstoffe wie Ethanol und Methanol gestärkt wird.
- Acquisition of First Mode's hybrid retrofit technology strengthens market position in mining sector
- Technology promises reduced total cost of ownership for mining equipment
- Expansion of global presence through teams in Australia, US, and Chile
- First-mover advantage in commercially available retrofit hybrid systems for mining
- Enhancement of IP portfolio with hydrogen and battery powertrain solutions
- None.
Insights
This strategic acquisition represents a significant advancement in Cummins' decarbonization capabilities, particularly in the $466 billion global mining equipment market. The deal's value lies in three critical aspects:
First, the acquisition of First Mode's commercial hybrid retrofit technology provides Cummins with an immediate revenue stream and first-mover advantage in the mining equipment decarbonization space. This is particularly valuable as mining companies face increasing pressure to reduce emissions while maintaining operational efficiency.
Second, the geographic footprint of acquired operations in Australia, USA and Chile is strategically crucial, as these regions represent major mining markets. Australia alone accounts for over 40% of global mining equipment demand, while Chile is the world's largest copper producer.
Third, the integration of First Mode's IP portfolio into Cummins' existing Power Systems segment creates significant synergies. Cummins can leverage its established global service network and relationships with OEMs to accelerate market penetration and provide comprehensive support for the hybrid solutions.
The timing of this acquisition is particularly advantageous as mining companies are actively seeking cost-effective decarbonization solutions. The focus on total cost of ownership (TCO) reduction while achieving environmental goals makes this technology especially attractive in the current market environment where mining companies are balancing profitability with sustainability commitments.
Looking ahead, this acquisition positions Cummins to capture a significant share of the mining equipment electrification market, which is projected to grow at a CAGR of 23.5% through 2030. The ability to offer both retrofit solutions and new equipment technologies provides Cummins with multiple revenue streams and strengthens their competitive position against traditional mining equipment manufacturers.
In addition, Cummins is acquiring First Mode’s commercial portfolio, manufacturing and technical teams in
This acquisition reinforces Cummins’ commitment to providing innovative and effective decarbonization solutions and will allow the company to elevate our product portfolio while meeting the needs of our customers on their transition to a lower-carbon future. First Mode will operate within the Power Systems industrial segment.
“This acquisition is an important step forward in our goal to lead our Power Systems customers through the energy transition,” said Jenny Bush, President of Power Systems at Cummins. “With First Mode’s hybrid retrofit technology, we are accelerating our ability to provide decarbonization solutions that meet miners’ need to drive down operating costs today.”
A Broader Commitment to Carbon Reduction
Cummins is at the forefront of developing multiple technology pathways to help the mining industry transition to a sustainable future. Through product hybridization and clean fuels such as ethanol and methanol, Cummins is developing bridge technologies that enable miners to maximize the life of existing fleets while reducing carbon emissions.
“Cummins’ dedication to partnering with original equipment manufacturers (OEMs) and miners ensures that these technologies are developed and tested in real-world environments,” Bush added. “With hybrid retrofit kits, modular component upgrades and scalable solutions, we are bringing miners the flexibility and confidence they need to decarbonize operations while adapting to evolving technologies and infrastructure.”
With its vast global service network, Cummins is prepared to support newly developed bridge technologies, ensuring seamless integration and ongoing support for mining and rail applications.
About Cummins Inc.
Cummins Inc., a global power solutions leader, is comprised of five business segments – Components, Engine, Distribution, Power Systems and Accelera by Cummins – supported by our global manufacturing and extensive service and support network, skilled workforce and vast technological expertise. Cummins is committed to its Destination Zero strategy, which is grounded in the company’s commitment to sustainability and helping its customers successfully navigate the energy transition with its broad portfolio of products. The products range from advanced diesel, natural gas, electric and hybrid powertrains and powertrain-related components including filtration, aftertreatment, turbochargers, fuel systems, valvetrain technologies, controls systems, air handling systems, automated transmissions, axles, drivelines, brakes, suspension systems, electric power generation systems, batteries, electrified power systems, hydrogen production technologies and fuel cell products. Headquartered in
View source version on businesswire.com: https://www.businesswire.com/news/home/20250211764138/en/
Melinda Koski
Director, External Communications
melinda.koski@cummins.com
Lauren Daniel
Manager, External Communications
lauren.daniel@cummins.com
Source: Cummins Inc.
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