Cummins

Cummins Inc., founded in 1919, is a prominent American corporation that specializes in the design, manufacture, and global distribution of diesel and natural gas engines. The company is a leading producer of engines utilized in commercial trucks, off-highway machinery, and railroad locomotives, as well as standby and prime power generators. In addition to engines, Cummins offers a range of powertrain components, including transmissions, turbochargers, aftertreatment systems, and fuel systems. Operating through several business units, including Engine, Power Systems, and Distribution, Cummins has established a significant presence in markets worldwide. Despite facing intense competition from heavy-duty truck manufacturers and increasing regulatory pressures regarding carbon emissions, Cummins has successfully maintained its leadership position in the industry. In India, Cummins India Limited serves as the largest entity of the company, further solidifying its role as a key player in the manufacturing sector.

Gbile Adewunmi

Executive Director Power Systems Industrial and Aftermarket Business

Ricardo Roman

Vice President of Components Finance

10 past transactions

Sion Power

Corporate Round in 2021
Sion Power Corporation specializes in the research, development, manufacture, and supply of lithium-sulfur rechargeable batteries, aimed at electric vehicles, unmanned aerial vehicles, and stationary power markets. The company is recognized for its innovative approach to battery technology, leveraging the higher energy density of sulfur ions, which allows for significant performance improvements over traditional lithium batteries. Sion Power also develops protected lithium anode materials, which it sells or licenses to manufacturers integrating its battery technology into a variety of applications. Founded in 1989 and based in Tucson, Arizona, Sion Power was initially known as Moltech Corporation before rebranding in 2002. The company focuses on creating compact and lightweight energy storage systems that enhance performance and cycle life, catering to the evolving demands of the electric vehicle and aerospace sectors.
Meda provides business consulting, access to capital, and market opportunities for minority entrepreneurs. Meda also operates a business development center under cooperative agreement with the Minority Business Development Agency (MBDA) of the U.S. Department of Commerce. The Minneapolis MBDA Business Center connects Minnesota Minority Business Enterprises (MBEs) with business opportunities. In 2016, Meda served 676 customers through our combined service offerings and helped minority businesses secure $165 million in contracts. Since its beginning in 1971, Meda has helped more than 20,000 entrepreneurs of color and assisted in the start-up of more than 550 businesses.

Loop Energy

Corporate Round in 2020
Loop Energy Inc. is a Canadian company that specializes in designing, developing, and marketing hydrogen fuel cell solutions for heavy-duty transportation and power generation applications. Established in 2000 and based in Burnaby, the company focuses on creating pollution-free transportation technologies that aim to significantly reduce harmful emissions. Loop Energy manufactures hydrogen fuel cell systems and modules, providing organizations with an alternative to traditional heavy-duty diesel engines, offering competitive cost of ownership without the environmental impact associated with fossil fuels. The company previously operated under the name PowerDisc Development Corp until its rebranding in February 2016.

Loop Energy

Post in 2019
Loop Energy Inc. is a Canadian company that specializes in designing, developing, and marketing hydrogen fuel cell solutions for heavy-duty transportation and power generation applications. Established in 2000 and based in Burnaby, the company focuses on creating pollution-free transportation technologies that aim to significantly reduce harmful emissions. Loop Energy manufactures hydrogen fuel cell systems and modules, providing organizations with an alternative to traditional heavy-duty diesel engines, offering competitive cost of ownership without the environmental impact associated with fossil fuels. The company previously operated under the name PowerDisc Development Corp until its rebranding in February 2016.

Efficient Drivetrains

Acquisition in 2018
Efficient Drivetrains, Inc. specializes in the development and marketing of plug-in hybrid electric vehicle (PHEV) and battery electric vehicle (BEV) technologies. The company offers a range of products, including high-efficiency continuously variable transmissions, drivetrain controllers, and battery modules, aimed at enhancing the performance and efficiency of electric and hybrid vehicles. Efficient Drivetrains provides advanced vehicle control software that optimizes energy management systems and reduces fuel consumption and emissions. The company also supports vehicle manufacturers and integrators through engineering services, technology licensing, and electrification kits. With a strong presence in markets across the United States, Canada, Europe, China, India, and Asia, Efficient Drivetrains caters to a diverse clientele, including vehicle developers and industry suppliers. Established in 2006 and headquartered in Milpitas, California, the company operates a research and development center in Dixon, California, and is a subsidiary of Cummins Inc.

Brammo

Acquisition in 2017
Brammo is an electric vehicle technology company based in North America that specializes in the design and development of electric motorcycles, including models such as the Enertia, Empulse, and Engage. The company also serves as an original equipment manufacturer (OEM), providing advanced Brammo Digital Drivetrain systems, which feature the Brammo Power battery pack and vehicle management system. Brammo's operations extend across North America, Europe, and Asia, focusing on promoting environmentally friendly transportation solutions through its range of plug-in electric motorcycles, sport motorcycles, supermoto, and off-road motorcycles. By catering to the growing demand for sustainable vehicles, Brammo aims to contribute to a cleaner, pollution-free environment.

Cummins Turbo Technologies

Funding Round in 2016
Wuxi Cummins Turbo Technologies Co. Ltd, established in 1996 and based in Wuxi, China, specializes in the manufacturing of turbochargers specifically designed for diesel engines. As a subsidiary of Cummins Inc., the company plays a significant role in the production and distribution of high-performance turbocharging solutions within the automotive and industrial sectors.

ReliOn

Funding Round in 2013
ReliOn is the world leader in the development and marketing of modular, cartridge-based, proton exchange membrane fuel cell technology. Currently, they are marketing a range of stationary fuel cells for emergency and backup power requirements, uninterruptible power supplies, digital power needs and a variety of off grid power requirements. ReliOn serves private and public entities as diverse as telecommunications, energy, transportation, and government. Their PEM fuel cells are commercially available today. They have sold and delivered more than 1,900kW of fuel cells in the U.S. and abroad, and count among their customers major telecommunications providers, government communication sites and utilities.

Hilite International - Assets

Acquisition in 2012
Hilite International - Assets develops and manufactures automotive systems and components for passenger cars and commercial vehicles.

Nelson Industries

Acquisition in 1997
Nelson is a filtration and exhaust manufacturer.
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