Cummins to purchase remaining shares in the former joint venture with Westport

Cummins and Westport Fuel Systems have agreed to a share purchase agreement for the sale of Westport’s stake in the Cummins Westport Joint Venture (JV) with CMI continuing to operate the business as the sole owner. As previously reported, the Cummins Westport Inc. joint venture agreement terminated effective December 31, 2021.

As part of the agreement, Cummins also will buy Westport’s interest in the JV’s intellectual property, developed by the JV in support of the JV’s spark ignited engines, with proceeds to Westport of US$20,000,000.

Cummins and Westport have also agreed to conduct an initial technical assessment of Westport’s hydrogen high pressure direct injection system (H2 HPDI) for potential use on CMI’s hydrogen applications.

Westport Fuel Systems is a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global automotive industry. Westport’s technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America and South America, the company serves customers in more than 70 countries with leading global transportation brands.