Cummins Inc. Makes Strategic Investment in ReliOn
SPOKANE, Wash. -- January 24, 2013
ReliOn, the leading provider of high reliability fuel cell solutions for
backup power and grid-support applications, is pleased to announce that
Cummins Inc. (NYSE:CMI) has made a strategic investment in the company.
Cummins is a corporation comprised of multiple business units that design,
manufacture, distribute and service engines and related engine related
technologies, including fuel systems, controls, air handling, filtration,
emission solutions and electrical power generation systems.
Gary Flood, ReliOn’s CEO, characterized the investment: “Cummins is a global
leader in power generation and, as such, will be an excellent partner to work
with ReliOn as we continue our global market expansion. Cummins is committed
to assist ReliOn toward increasing our market visibility and access.
Additionally, Cummins will use its broad capabilities in engineering and
manufacturing to accelerate ReliOn’s efforts to drive costs down and increase
the distribution reach of our fuel cell products around the world.”
As part of this investment, Cummins will join the ReliOn board of directors.
ReliOn’s continuous innovation in core technology has made it a leader in the
development and marketing of modular, fault-tolerant fuel cell products for
customers seeking solutions to critical backup power applications. With nearly
1,600 sites serving customer equipment in 42 U.S. states and 34 countries,
ReliOn customers enjoy the benefits of high reliability, low operating costs
and easy maintenance. ReliOn products are tested or certified to stringent
standards from CSA, UL, CE, Telcordia NEBS and China TTL Labs. ReliOn fuel
cells…simply powerful. www.relion-inc.com.
Avista Corp. www.avistacorp.com
Chrysalix Energy Venture Capital LP www.chrysalix.com
Cummins, Inc. www.cummins.com
Enterprise Partners Venture Capital www.epvc.com
Montlake Capital http://montlakecapital.com/
Oak Investment Partners www.oakvc.com
PCG Clean Energy & Technology Fund www.pcgfunds.com
Wall Street Technology Partners LP www.wallstreettp.com
This press release contains "forward-looking statements." These
forward-looking statements involve known and unknown risks, uncertainties, and
other factors, which may cause ReliOn’s actual results, performance, or
achievements to be materially different from any future results, performance
or achievements express or implied by such forward-looking statements. The
forward-looking statements made in this press release are based on
assumptions and judgments of management regarding future events and results.
These assumptions and judgments may prove to be inaccurate as a result of a
number of factors, many of which are beyond ReliOn’s control, and its actual
results may differ materially from the results contemplated in these
Sandra Saathoff, 509-228-6553
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