COLUMBUS, Ind. – ECNETNews reports that Cummins Inc. (NYSE: CMI) has successfully completed the acquisition of assets from First Mode, a prominent player in retrofit hybrid solutions tailored for mining and rail industries. This acquisition encompasses hybrid mining and rail product lines along with a comprehensive intellectual property portfolio, which includes cutting-edge hydrogen and battery powertrain technologies. The initiative marks a major advancement in the availability of retrofit hybrid systems for mining equipment, significantly lowering the total cost of ownership (TCO) while promoting decarbonization across operations.
Additionally, Cummins will integrate First Mode’s commercial portfolio, manufacturing capabilities, and technical teams located in Australia, the United States, and Chile. First Mode will maintain operations to support its customers throughout the transition and aims to fulfill product shipments in the first quarter.
This strategic acquisition underlines Cummins’ dedication to delivering innovative decarbonization solutions and enhances the company’s ability to expand its product offerings, ensuring alignment with customer needs in the shift toward a lower-carbon future. First Mode will function within the Power Systems industrial segment.
“This acquisition is a significant milestone in our mission to guide our Power Systems customers through the energy transition,” stated the President of Power Systems at Cummins. “Integrating First Mode’s hybrid retrofit technology will expedite our efforts in delivering viable decarbonization solutions that help miners reduce operational costs today.”
Strengthening Commitment to Carbon Reduction
Cummins is leading the charge in advancing various technological pathways designed to facilitate the mining industry’s transition toward sustainability. Through initiatives focused on product hybridization and the use of clean fuels such as ethanol and methanol, Cummins is pioneering bridge technologies that assist miners in extending the lifespan of their existing fleets while effectively lowering carbon emissions.
“Cummins’ commitment to collaborating with original equipment manufacturers (OEMs) and miners ensures that these innovative technologies are developed and validated in real-world scenarios,” the President further commented. “With hybrid retrofit kits, modular component upgrades, and scalable solutions, we empower miners with the flexibility necessary to decarbonize their operations while adapting to changing technologies and infrastructure.”
Cummins boasts a comprehensive global service network that is poised to support these new bridge technologies, ensuring smooth integration and continuous assistance for mining and rail applications.
About Cummins Inc.
Cummins Inc. stands as a global leader in power solutions, organized into five business segments: Components, Engine, Distribution, Power Systems, and Accelera by Cummins. The company’s extensive manufacturing capabilities and service network, combined with a skilled workforce and robust technological expertise, underpin its commitment to sustainability through the Destination Zero strategy. This strategy emphasizes assisting customers in navigating the energy transition with a dynamic range of products, including advanced diesel, natural gas, electric, and hybrid powertrains. Founded in 1919 and headquartered in Columbus, Indiana, Cummins employs around 75,500 individuals dedicated to cultivating a prosperous world through essential corporate responsibility priorities: education, environmental stewardship, and equality of opportunity. In 2023, Cummins reported earnings of approximately $735 million on sales totaling $34.1 billion.
