- July 17, 2021
- Posted by: Stratford Team
- Category: Business
Chevron Corporation CVX through its subsidiary Chevron Products Companyannounced a memorandum of understanding (MOU) with Cummins Inc. CMI, a worldwide leader in power and hydrogen technology. The MOU aims to explore a potential collaboration for generating commercially feasible business prospects in hydrogen and other alternative energy sources.
The MOU establishes a framework for Chevron and Cummins to coordinate on four main goals, such as promoting hydrogen as a decarbonizing alternative for transportation and industry through public policy; increasing market demand for hydrogen-powered commercial cars and industrial uses; constructing infrastructure to enable hydrogen usage in industries and fuel cell vehicles and researching on how Cummins’ electrolyzer and fuel cell technology may be used in one or more of Chevron’s domestic refineries.
Andy Walz, president, Chevron Americas Fuels & Lubricants, stated that “Chevron is committed to developing…