At Extreme Investor Network, we keep you informed about the latest trends in the world of finance and investing. Today, we want to highlight an interview with Cummins CEO Jennifer Rumsey on CNBC’s Jim Cramer show.
In the interview, Rumsey discussed the importance of hydrogen in Cummins’ strategy. She emphasized that hydrogen is a crucial part of the solution when it comes to converting renewable energy into usable fuel. As a company that focuses on reducing carbon emissions, Cummins sees hydrogen as a promising alternative energy source.
Rumsey pointed out that hydrogen can serve as a way to store renewable energy and transport it to where it’s needed. In certain scenarios where batteries may be too expensive or heavy, hydrogen-based solutions become vital. Cummins is making investments in hydrogen engines for its HELM platform, which prioritizes higher efficiency, lower emissions, and multiple fuels.
While Rumsey acknowledged that hydrogen technology is still in the development phase and will take time to fully come to fruition, Cummins is actively working on advancing these technologies. The company’s recent earnings report exceeded Wall Street’s expectations, leading to a record revenue in the second quarter and a significant increase in stock value.
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