An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Cummins Announces Investments of more than $1 billion Across U.S. Manufacturing Network
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Positive)
Tags
Rhea-AI Summary
President Biden will visit Cummins (NYSE: CMI) in Fridley, Minnesota on April 3 as part of his Investing in America tour. The visit will highlight Cummins' role in supporting manufacturing, innovation, and clean energy initiatives. Cummins plans to invest over $1 billion in its U.S. engine manufacturing network, creating jobs and advancing clean technology. Key initiatives include producing electrolyzers for green hydrogen and investing $452 million in the Jamestown Engine Plant to develop the industry’s first fuel-agnostic engine platform. These actions aim to decarbonize the economy while retaining and creating jobs.
Positive
Investment of over $1 billion in U.S. manufacturing network to create clean tech jobs.
Production of electrolyzers in Fridley will support the green hydrogen economy.
Investment of $452 million in Jamestown Engine Plant to develop fuel-agnostic engines.
Plans to create 100 new jobs by 2024 in electrolyzer production.
Negative
None.
COLUMBUS, Ind.--(BUSINESS WIRE)--
On Monday, April 3, President Biden will visit Cummins Inc. (NYSE: CMI) in Fridley, Minnesota (USA) as part of his Administration’s Investing in America tour. During the visit, President Biden will discuss how his Investing in America agenda is supporting manufacturing, innovation and a clean energy economy, as well as creating good-paying jobs in communities like Fridley and across the country.
“I am delighted that we will have the chance to show President Biden the innovative work we are doing at our Fridley plant and our incredible Cummins employees who are doing it,” said Jennifer Rumsey, Cummins President and CEO. “In just a few weeks, we will begin manufacturing one of the key pieces of technology for green hydrogen production that will help decarbonize our economy and drive the clean energy transition – the electrolyzer. Support from the Biden Administration and Congress with legislation like the Bipartisan Infrastructure Law and Inflation Reduction Act are driving the clean energy economy forward in the United States and critical to our decarbonization efforts.”
Coinciding with the visit, Cummins has announced that in addition to recent investments in Fridley, the company is investing more than $1 billion across its U.S. engine manufacturing network in Indiana, North Carolina and New York. The investment will provide upgrades to those facilities to support the industry’s first fuel agnostic engine platforms that will run on low carbon fuels, including natural gas, diesel and eventually hydrogen, helping decarbonize the nation’s truck fleets today.
“The historic investments included in those pieces of legislation played a key role in our decision to manufacture products here in the U.S., creating more clean-tech jobs and positively impacting our communities,” Rumsey continued. “The electrolyzer production in Minnesota and investment in our Indiana, North Carolina and New York facilities are reflective of our dual path approach of advancing both engine-based and zero-emission solutions – an approach that is best for all of our stakeholders and our impact on the planet. We can’t do this alone and are grateful for the continued partnership and collaboration with congressional leaders and the Biden Administration.”
Over half of all medium- and heavy-duty trucks on the road in the U.S. today use Cummins engines. This investment is intended to retain the thousands of current engineering and manufacturing jobs and support the creation of hundreds of new jobs across the company’s New York, North Carolina and Indiana footprint as Cummins invests in its people and facilities to grow innovation and manufacturing and accelerate our decarbonization efforts.
The following information highlights the company’s plans to continue investments in its Jamestown Engine Plant in New York and information regarding recent investments in Fridley, Minnesota. Information on additional investment in Indiana and North Carolina will be made public later.
Jamestown Engine Plant and the First Fuel Agnostic Engines Arriving to Customers
The announcement includes Cummins’ plans to invest $452M in its Jamestown Engine Plant (JEP) to upgrade its 998,000 square-foot facility in Western New York to produce the industry’s first fuel-agnostic internal combustion engine platform that leverages a range of lower carbon fuel types. The X15N is part of the new fuel-agnostic 15-liter engine platform produced at JEP.
Cummins customers, including Walmart, Werner, Matheson, and National Ready Mix, among others, are beginning to test the very first engines of the fuel agnostic platform, the X15N. Walmart will receive the very first field test unit later in April to take part in the field test of this industry-first, 15-liter advanced engine platform running on renewable natural gas.
CumminsU.S. Electrolyzer Product in Fridley, Minnesota At the Fridley facility, Accelera by Cummins – Cummins' zero-emission technology brand – will soon manufacture electrolyzers, which are a critical piece of the green hydrogen economy. Hydrogen produced by electrolyzers can power hydrogen fuel cell vehicles and is used in industrial processes like steel production. Building electrolyzers in Fridley is helping to bring the supply chain for zero-emissions vehicles to the United States – particularly in heavy trucking industries – and employing hundreds of workers in the area with good-paying jobs.
The Cummins Power Systems factory is a 1.1 million square feet full-service facility, concentrating on design, product, service engineering and manufacturing located just north of Minneapolis. Established in 1969, Fridley employs over 900 and will plan to dedicate 89,000 square feet of the existing facility to electrolyzer production starting April 24. This is a $10 million investment that will support 100 new jobs by 2024.
About Cummins Inc. Cummins Inc., a global power technology leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from internal combustion, electric and hybrid integrated power solutions to components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, electric power generation systems, microgrid controls, batteries, electrolyzers and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 73,600 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $2.2 billion on sales of $28.1 billion in 2022. Learn more at cummins.com.
President Biden's visit to Cummins on April 3 will focus on the company's contributions to manufacturing and clean energy initiatives as part of his Investing in America tour.
How much is Cummins investing in its U.S. manufacturing network?
Cummins is investing over $1 billion in its U.S. engine manufacturing network to enhance facilities and support clean technology development.
What new technology is Cummins manufacturing in Fridley, Minnesota?
In Fridley, Cummins will manufacture electrolyzers, essential for the green hydrogen economy, beginning April 24.
What is the purpose of Cummins' investment in the Jamestown Engine Plant?
The $452 million investment in the Jamestown Engine Plant aims to produce the first fuel-agnostic internal combustion engine platform to support lower carbon fuel types.
