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US engine maker Cummins has logged $199m in charges after selling its low-pressure hydrogen fuel cell business in the first quarter of 2026.
The company confirmed it sold the business unit on 31 March to an unnamed customer. Cummins said the deal resulted in a net payment of $175m to the customer, reflecting cancelled “future commitments” and the resolution of certain claims.
On 2 April, French train manufacturer Alstom announced it had hydrogen fuel cell activities from Cummins for an undisclosed value. It’s unclear whether Alstom bought the entirety of Cummins’ fuel cell activities.
Cummins CEO Jennifer Rumsey said the sale reflected “lower hydrogen adoption expectations” and the firm’s “continued commitment to focusing investments and reducing losses.”
The company’s clean energy arm Accelera reported a $277m EBITDA loss in the quarter.
It comes after the company announced it would sales activities related to its electrolyser business in February, citing a sharp deterioration in market conditions.
In its full-year 2025 results, Cummins reported a $458m in impairment and restructuring charges linked to the electrolyser business.
The move, alongside a pause in electrolyser sales, marks a near-term withdrawal from key parts of the hydrogen value chain, after acquiring hydrogen capabilities through its purchase of Hydrogenics in 2019
Cummins says it remains committed to “pacing and focusing” its zero-emission investments on the “most promising paths.” Accelera’s battery-electric related technologies have been unaffected by the restructuring.
