Chevron signs hydrogen fuel business development MoU with CumminsJuly 23, 2021
The companies will be working together to find new H2 and renewable energy avenues.
Chevron USA Inc (NYSE stock symbol CVX) has signed a memorandum of understanding (MoU) with Cummins through its Chevron Products Co. division, to develop hydrogen fuel business opportunities.
The companies will be working together to advance the opportunities available in renewable energy.
The MoU provides the hydrogen fuel business framework for Chevron and Cummins in their initial collaboration. It points to four primary objectives for their efforts: advancing public policy to be more welcoming to H2 as a solution to decarbonize industry and transportation; forming market demand for H2-powered vehicles and industrial applications; developing the necessary support infrastructure for using H2 for industry and fuel cell vehicles (FCVs); and taking advantage of the chance to leverage the electrolyzer and fuel cell technologies from Cummins at one or more of the domestic Chevron refineries.
“Chevron is committed to developing and delivering affordable, reliable, ever-cleaner energy, and collaborating with Cummins is a positive step toward our goal of building a large-scale business in a lower-carbon area that is complementary to our current offerings,” said Chevron President of Americas Fuels & Lubricants Andy Walz. “Hydrogen is just one lower-carbon solution we are investing in that will position our customers to reduce the carbon intensity of their businesses and everyday lives. We’ve also invested in developing and supplying renewable natural gas, blending renewables into our fuels, coprocessing biofeedstocks in our refineries, and abatement projects that will reduce the carbon intensity of our operations.”
The hydrogen fuel business collaboration is meant to help move the H2 ecosystem forward.
Cummins company vice president and president of New Power Amy Davis said that their purpose in working with Chevron is to be able to carry H2 technology ahead while boosting the development of the renewable energy ecosystem as a whole. This, said Davis, supports Cummins to continue in the pursuit of its goal toward enabling a carbon-neutral world.
“The energy transition is happening, and we recognize the critical role hydrogen will play in our energy mix,” explained Davis when discussing the hydrogen fuel business collaboration. “We’ve deployed more than 2,000 fuel cells and 600 electrolyzers around the world, and are exploring other hydrogen alternatives including a hydrogen-fueled internal combustion engine, as we continue to accelerate and harness hydrogen’s powerful potential.”