Cummins

Using online platforms, autonomy, electric and fuel-cell tech solutions to shape the future of trucking.

Truck Industry Tech

Platform Science offers IoT-based telematics and fleet management solutions for parties such as connected trucks and freight companies. Its flagship product “Virtual Vehicle,” is an open-source OEM platform that allows fleets to customize their software by giving telematics providers, third-party developers, and other parties access to real-time data directly from the vehicle. Its other internally developed driver apps include “PS Workflow,” to automate dispatch; “PS Navigation,” for route planning; “PS DVIR,” a driver vehicle inspection report for drivers to keep track of reported vehicle defects; “PS Messages,” a driver-focused messaging application; “PS Media Manager,” a digital dashboard for file sharing; “PS Form Manager,” a configurable form management application; and “PS HOS,” an electronic logging device (ELD) application.The company’s hardware products, which are in-vehicle tablets and telematics that are either built-in or installed later, work in tandem with software solutions to compute the fleet’s data in real time.Its business model for fleets involves a usage-based billing system that charges only for mobile devices and trucks that use the platform.In <a href="https://sp-edge.com/updates/33385">September 2024</a>, Platform Science announced a definitive agreement with Trimble, a technology, to acquire Trimble's global transportation telematics business units with plans to strengthen its “Virtual Vehicle,” fleet management platform by enabling its customers to access Trimble's portfolio of transportation solutions via the platform.&nbsp;Key customers and partnershipsPlatform Science’s customers include Werner Enterprises, Schneider National, Western Express, US Xpress, Cargo Transporters, <a href="https://sp-edge.com/updates/11189">Walmart,</a> Paper Transport, Mesilla Valley Transportation, Velocity Truck Rental &amp; Leasing, and C.R. England. Truck makers such as Daimler Trucks North America (July 2020) Navistar <a href="https://sp-edge.com/updates/9275">(March 2021),</a> PACCAR (January 2023), and Kenworth <a href="https://sp-edge.com/updates/16299">(Feebruary 2023)</a> also have partnerships with the company to factory install the technology into their trucks.The company also has integrations with other technology providers including 1) bypass and tolling service providers Drivewyze, PrePass, and Bestpass Toll Management; 2) fuel management companies Comdata Proximity, Idle Smart Sleeper Pro, ProMiles, True Fuel, and DClimate; 3) driver experience providers Aperia, Weigh My Truck App, Keystone by <a href="https://sp-edge.com/updates/22798">Irdeto,</a> Driver.i, and Luma Brighter Learning; 4) maintenance services providers <a href="https://sp-edge.com/updates/20499">Uptake,</a> IntelliConnect Remote Diagnostics, Droan, Nemodata, TripVision, FleetAssist, and RoadsBays; 4) navigation service providers Sygic, CoPilot, Wise Systems Platforms, and CAT Scale; 5) transport management systems (TMS) McLeod, TMW.Suite, and Mastery; and 6) the asset management solution company <a href="https://sp-edge.com/updates/32635">SkyBitz</a>.

Hydrogen Economy

<div>
 
 Loop Energy is a Canadian company developing hydrogen fuel cell modules and stacks for vehicle OEMs and power generation system manufacturers. The company&rsquo;s patented proton exchange membrane (PEM) fuel cell architecture, called &ldquo;eFlow&rdquo;, features uniquely designed bipolar plates that the company says ensure uniform power density across the active area while increasing gas velocity to provide superior fuel efficiency.
 
 
 The company has two production facilities in Burnaby, Canada and Shanghai, China, and an operational presence in North America, the UK, Asia-Pacific, and Europe.
 
 
 In February 2024, Loop Energy completed the acquisition of H2P Portable Power Corp, a developer of hydrogen-powered industrial equipment, with whom it partnered in February 2023 to develop zero-emission generators.
 
 
 Key customers and partnerships
 
 
 The company targets commercial vehicles, such as light commercial vehicles, transit buses, and medium- and heavy-duty trucks. In July 2022, Loop Energy signed up 
 <a href="https://sp-edge.com/updates/11463">
 Tevva
 </a>
 as its first customer, and in the same month, partnered with a second bus manufacturer, 
 <a href="https://sp-edge.com/updates/11840">
 Mobility and Innovation (M&amp;I)
 </a>
 , to supply 10 S300 (30 kilowatt) fuel cell systems to expand M&amp;I&rsquo;s city bus platform. In October 2022, Loop Energy signed up 
 <a href="https://sp-edge.com/updates/13730">
 Rampini Carlo
 </a>
 as the third bus manufacturer to launch a hydrogen-electric bus platform, following the addition of 
 <a href="https://sp-edge.com/updates/13587">
 addition of
 </a>
 Opex, a Colombian systems integrator; Avia Ingenier&iacute;a, a Spanish electric powertrain provider; and Aluminium Revolutionary Chassis Company, an Australian manufacturer of lightweight bolted aluminum city bus chassis, as customers.&nbsp;
 
 
 In August 2021, Loop Energy announced the first order placement for its eFlow hydrogen fuel cell systems through an agreement with South Korea-based Natural Gas Vehicles International (NGVI). The company has also partnered with Tecnicas Reunidas to expand hydrogen mobility in Spain, Hydrogen In Motion for hydrogen-powered rail transportation in Canada, METTEM-M to provide hydrogen electric powertrains for commercial vehicles in Russia, and Drabpol as a value-added reseller in Poland.
 
 
 In March 2022, Loop Energy partnered with Innotest AG, a Switzerland-based developer of stationary power systems, to integrate eFlow into its Home Power Energy System for residential and commercial buildings. In May 2023, the company partnered with MYNT First Element (Australia), a power generator manufacturer, to produce hydrogen electric power generators. And in September 2023, Loop Energy was one of two companies selected to provide a hydrogen electric solution for the global supply chain leader DP World&rsquo;s pilot project to decarbonize its fleet of rubber-tired gantry cranes at the Port of Vancouver.
 
 
 Funding and financials
 
 
 In May 2022, Loop Energy was 
 <a href="https://sp-edge.com/updates/10081">
 awarded
 </a>
 USD 9.75 million by the Government of Canada through Pacific Economic Development Canada&rsquo;s (PacifiCan) Jobs and Growth Fund. In March 2020, the company raised an undisclosed amount from Cummins, a US-based multinational company that manufactures engines and power generation products. The proceeds were to be used to expand the production capacity of Loop Energy&rsquo;s hydrogen fuel cell stacks at its facility in Burnaby.
 
 
 The company reported revenues of CAD 3.3 million (USD 2.4 million) and a net loss of CAD 37.5 million (USD 27.7 million) in 2022.
 
</div>

Platform Science is an enterprise-grade IoT fleet management platform for the new era of connected trucks, freight, and the digital supply chain. Since its launch in 2015, Platform Science has spent thousands of hours working with fleets to make transportation smart. The company is based in San Diego, California, United States.

VoltStorage develops and produces solar energy storage systems based on the eco-friendly Redox Flow technology to store surplus solar energy by day and use it during periods of low sunshine. With its sustainable energy storage solutions, VoltStorage follows the vision of making 100 percent renewable energy available around the clock – and thus making the world cleaner and fairer for future generations.

Sion Power is the global leader in the development of a new generation of high-energy, rechargeable lithium batteries for portable power, mobile electronics, and electric vehicles. Based on the five times higher energy available from sulfur ions compared to other lithium chemistries, Sion Power's lithium-sulfur cell offers significant improvements in performance over current rechargeable batteries.  Sion Power is advancing the rechargeable battery industry through its groundbreaking Licerion® technology. Licerion represents a sophisticated evolution in lithium-metal batteries, boasting twice the energy density within the same size and weight as traditional lithium-ion batteries. With an impressive energy density of up to 500 Wh/kg, Licerion batteries are manufactured at scale in large-format cells. This innovation holds the promise of substantially improving the performance of electric vehicles for both commercial and consumer use.

Meda provides business consulting, access to capital, and market opportunities for minority entrepreneurs. Meda also operates a business development center under cooperative agreement with the Minority Business Development Agency (MBDA) of the U.S. Department of Commerce. The Minneapolis MBDA Business Center connects Minnesota Minority Business Enterprises (MBEs) with business opportunities. In 2016, Meda served 676 customers through our combined service offerings and helped minority businesses secure $165 million in contracts.  Since its beginning in 1971, Meda has helped more than 20,000 entrepreneurs of color and assisted in the start-up of more than 550 businesses.

Loop Energy is a developer of pollution-free transportation solutions intended to reduce the emission of harmful gasses.The company develops fuel cell technology systems for applications such as back-up power, transportation and portable applications with a combination of electric and hydrogen technology, enabling organizations to get heavy-duty diesel engines at a competitive cost of ownership, with no pollution burden.

Wuxi Cummins Turbo Technologies manufactures turbochargers for diesel engines.

ReliOn is the world leader in the development and marketing of modular, cartridge-based, proton exchange membrane fuel cell technology. Currently, they are marketing a range of stationary fuel cells for emergency and backup power requirements, uninterruptible power supplies, digital power needs and a variety of off grid power requirements.  ReliOn serves private and public entities as diverse as telecommunications, energy, transportation, and government.  Their PEM fuel cells are commercially available today. They have sold and delivered more than 1,900kW of fuel cells in the U.S. and abroad, and count among their customers major telecommunications providers, government communication sites and utilities.

Cummins is a diesel engine manufacturer. The company designs, manufactures, distributes, and services diesel and natural gas engines, electric power generation systems, and engine-related component products, including filtration, exhaust after treatment, fuel systems, fuel systems, control systems, air handling systems, and electric power.  The Company sells its products to original equipment manufacturers (OEMs), distributors, and other customers worldwide. It serves its customers through a network of more than 600 company owned and independent distributor locations and more than 6,500 dealer locations in more than 190 countries and territories.  It has four segments: Engine, Power Generation, Components, and Distribution.  In April 2011, the Company sold its exhaust business to Global Tube. In July 2012, the Company acquired the emission control assets of Hilite International in Marktheidenfeld. The Hilite assets are part of Cummins Emission Solution (CES).

<div> Cummins Inc. (NYSE: CMI) is a global power solutions company headquartered in Columbus, Indiana. Founded in 1919, Cummins designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. The company operates through five business segments: Engine, Distribution, Components, Power Systems, and Accelera. Cummins' products range from diesel and natural gas engines to hybrid and electric powertrains, as well as related technologies including turbochargers, fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. In 2023, Cummins reported annual revenues of USD 34.1 billion. The company employs approximately 75,500 people globally and serves customers through a network of distributors and dealers in approximately 190 countries and territories. Cummins' Engine segment produces a range of diesel and natural gas-powered engines for on-highway and off-highway use in applications such as trucks, buses, construction equipment, and marine vessels. The Distribution segment sells and services the full range of Cummins products. The Components segment supplies products such as filtration systems, turbochargers, and fuel systems. Power Systems offers power generation systems, high-horsepower engines, and battery storage systems. Accelera focuses on developing zero-emissions technologies including battery and fuel cell electric powertrains. The company is pursuing a strategy called &quot;Destination Zero&quot; aimed at reducing the carbon footprint of its products. This includes improving efficiency of traditional engines, developing alternative fuel engines, and investing in zero-emissions technologies like battery and fuel cell systems. Cummins has a long history of innovation in engine technology dating back to its founding. The company played a pioneering role in developing diesel engines for on-highway trucks in the 1930s and has continued to advance engine technology to meet evolving emissions regulations over the decades. Today, Cummins is working to develop next-generation power solutions to support decarbonization of commercial and industrial applications. </div>

CMI INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces That Cummins Inc. Investors With Substantial Losses Have Opportunity to Lead Class Action Lawsuit

Startups producing low-carbon hydrogen using fossil fuels (i.e. blue and turquoise hydrogen) and related technologies or materials.

Startups producing 100% clean hydrogen using water electrolysis (i.e. green hydrogen) or any other sustainable method as well as related technologies and materials.

Startups offering next-generation hydrogen distribution solutions such as solid and liquid-state hydrogen storage and alternative compression technologies for gaseous-state hydrogen storage. Also includes hydrogen fueling stations for mobility applications.

Startups developing hydrogen-powered vehicles and vehicle technologies including passenger, heavy-duty, and aerial vehicles.

Startups producing fuel cell systems for electricity generation using hydrogen and related technologies or materials.

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