Cummins Inc. announced the acquisition of a minority stake in Exergy Engery LLC.
Investment terms not disclosed
Exergy Energy is a software and asset management company with offices in New York; Berkeley, California; and Alexandria, Virginia.
The partnership allows Exergy Energy to install Cummins power systems (gensets, energy storage systems and switchgear) on site without upfront capital expenditure to provide power during power outages or periods of peak demand.
“Cummins is committed to helping its customers achieve their sustainability goals,” Wissam Balshe, business director of Cummins Energy Management Solutions, said in a statement. “We understand that the initial capital cost of the generator set and power system components, combined with the complexity of participating in grid services, has caused organizations to avoid the difficult decision of finding a solution.”