SOURCE: Cummins Inc.DESCRIPTION:
The partnership behind the development of what will be one of the world’s largest electrolyzer plants in Spain will help position Cummins Inc. to be a European leader in green hydrogen production, company officials say.
Leaders from Cummins joined together earlier this year with their counterparts at Iberdrola, one of the world’s largest energy companies, to announce plans for the partnership and an electrolyzer plant critical to the production of green hydrogen. The Cummins plant, to be built in Castilla-La Mancha, Spain, will produce electrolyzers for Spain, Europe and beyond. Cummins will partner with Iberdrola on large-scale electrolysis projects.
Electrolysis is the process that uses an electric current to break down an ionic substance such as water into hydrogen and oxygen. Green hydrogen is generated when that process uses electricity from low- and no-carbon power sources. In announcing the company’s plans for the plant and the partnership with Iberdrola, Cummins Chairman and CEO Tom Linebarger said the time is right for this initiative.
“We have to get going on lowering greenhouse gas emissions,” Linebarger said. “The earth depends on us doing this. My children and their children will look back at us to say, ‘What did you do about this problem?’”
Linebarger said Iberdrola is an ideal partner because it shares Cummins’ sense of urgency and together the partners have the size and expertise to help Spain and the European Union meet their climate goals. The Cummins plant in Spain is slated for completion in 2023.
Tweet me: A new plant under development in Spain is an important step @Cummins is taking to develop a low-carbon future. The plant and a partnership with one of the world’s largest energy companies positions Cummins to be a leader in green hydrogen production. https://bit.ly/2UeDKZy
KEYWORDS: NYSE:CMI, Cummins Inc., Cummins, hydrogen, Electrolysis