Cummins to acquire 50% of Momentum Fuel Technologies from Rush Enterprises; CNG storage for Class 6-8 vehicles
Cummins Inc. and Rush Enterprises, Inc. signed a Letter of Intent for Cummins to acquire a 50% equity interest in Momentum Fuel Technologies from Rush Enterprises. Momentum Fuel Technologies delivers the industry’s first complete compressed natural gas (CNG) fuel system solution for Class 6-8 vehicles.
A division of Rush Enterprises, the company officially launched in 2015 and is a vertically integrated provider of fuel system solutions, featuring engineering, design and manufacturing processes, complete system installation capabilities and a comprehensive sales, service and support network.
The proposed transaction is expected to close later this year, subject to completion of customary pre-closing activities and entering into mutually agreeable transaction documentation.
The joint venture between Rush Enterprises and Cummins will produce Cummins-branded natural gas fuel delivery systems for the commercial vehicle market in North America, combining the strengths of Momentum Fuel Technologies’ compressed natural gas (CNG) fuel delivery systems, Cummins’ powertrain expertise, and the engineering and support infrastructure of both companies.
This collaboration shows Cummins’ continued commitment to natural gas powertrains. This partnership will improve customers service for both CNG and RNG through an improved support network. We are thrilled to expand our network of clean and reliable power solutions.—Srikanth Padmanabhan, President of the Engine Business at Cummins
The joint venture will offer aftermarket support through Rush Truck Centers dealerships and Cummins distributors which will be able to service both the engine and the fuel delivery system. The partnership between Cummins and Rush Enterprises will benefit customers by providing them with access to an extensive CNG vehicle parts and service network; both Cummins’ and Rush Enterprises’ respective networks, which together represent more than 250 locations in the US and Canada, will be equipped with certified technicians and access to a comprehensive CNG vehicle parts inventory.