- Cummins Inc. (NYSE:CMI) and Buhler Industries Inc. (OTC:BIIAF), a tractor manufacturer under the Versatile brand, have signed a letter of intent.
- Under the LOI, they plan to integrate the Cummins 15-liter hydrogen engines in Versatile’s equipment. Since 1967, Versatile has used Cummins engines exclusively in all four-wheel drive tractors.
- “While diesel engines continue to be the flexible power of choice for the foreseeable future in agriculture, such a collaboration enables both companies to develop low and zero carbon solutions that are ideally suited to farming,” stated Adam Reid, Versatile’s VP of Sales and Marketing.
- Hydrogen combustion engines will provide a cost-effective zero-carbon fueled solution for high load factor and high utilization applications.
- Price Action: CMI shares are trading lower by 0.38% at $221.66 on the last check Monday.
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