Cummins Announces Acquisition of Energy Storage Technology

COLUMBUS, Ind.

Cummins Inc. (NYSE: CMI) today announced that it is acquiring the assets of Brammo, Inc., which designs and develops battery packs for mobile and stationary applications. Adding Brammo's battery pack expertise and resources is an important milestone in Cummins' efforts to become a global electrified power leader.

"To be a leading provider of electrified power systems just as we are with diesel and natural gas driven powertrains, we must own key elements and subsystems of the electrification network," said Tom Linebarger, Chairman and CEO, Cummins Inc. "By adding the expertise of Brammo and its employees to Cummins, we are taking a step forward in our electrification business and differentiating ourselves from our competition. As always, when markets are ready, Cummins will bring our customers the right power solution at the right time to power their success."

Operations from this acquisition will report under Cummins' recently formed Electrification Business led by Julie Furber, Executive Director of Electrification at Cummins, and will continue to be based in Talent, Oregon. Founded in 2002, Brammo has made great strides in developing electric energy storage technology for mobile and stationary applications.

"Brammo's expertise across a broad range of applications uniquely positions us to enhance Cummins' efforts to be a leader in the electrified power space," said Craig Bramscher, Chairman and CEO of Brammo. "We see this as a very exciting opportunity to continue changing the way the world moves and stores power."

This acquisition adds to Cummins' unmatched portfolio of solutions and provides an entry point into new markets. In August, Cummins revealed a fully electric heavy duty demonstration Urban Hauler Tractor. 

This acquisition is subject to customary closing conditions and is expected to close by the end of this calendar year.

About Cummins Inc.

Cummins Inc., a global power leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from diesel and natural gas engines to hybrid and electric platforms, as well as related technologies, including battery systems, fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Headquartered in Columbus, Indiana (U.S.A.), since its founding in 1919, Cummins currently employs approximately 58,600 people committed to powering a more prosperous world. Cummins serves customers in about 190 countries and territories through a network of some 500 company-owned and independent distributor locations and approximately 7,500 dealer locations. Cummins earned $1 billion on sales of $20.4 billion in 2017. Press releases can be found on the Web at www.cummins.com. Follow Cummins on Twitter at www.twitter.com/cummins and on YouTube at www.youtube.com/cumminsinc

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Media Contact
Jon Mills
Jon Mills
Director – External Communications
(317) 658-4540
jon.mills@cummins.com
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