Cummins Assumes Full Ownership of Key Fuel Cell and Electrolyzer Technologies
Portfolio Pulse from Benzinga Newsdesk
Cummins Inc. (NYSE:CMI) has bought out Air Liquide's 19% stake in Hydrogenics Corporation, a company it acquired in 2019. This move gives Cummins full ownership of key fuel cell and electrolyzer technologies.
June 30, 2023 | 7:23 am
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Cummins Inc. has acquired Air Liquide's 19% stake in Hydrogenics Corporation, giving it full ownership of key fuel cell and electrolyzer technologies.
The acquisition of Air Liquide's stake in Hydrogenics gives Cummins full control over key fuel cell and electrolyzer technologies. This could potentially strengthen Cummins' position in the market and lead to increased investor confidence, thereby positively impacting its stock price in the short term.
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