Mining equipment decarbonization and electrification retrofit technology
Strategic Profile
Cummins acquired First Mode assets in February 2025, continuing its mission to decarbonize heavy industry. Since 2022, First Mode has operated at the TransAlta Centralia Coal Mine, transforming the site into a hub for clean energy innovation. The company now operates under Cummins' ownership following bankruptcy filing in December 2024.
Cyborg Score Rationale
First Mode demonstrated innovative technology and successful partnerships (Anglo American, Mitsui & Co.) but faced severe financial stress, filing for bankruptcy in December 2024 and being acquired by Cummins in February 2025. Post-acquisition, the company operates as a subsidiary with reduced independence but benefits from Cummins' scale and resources.
Top Insights
Filed for Chapter 11 bankruptcy in December 2024 after majority shareholder Anglo American stopped providing capital
Acquired by Cummins in February 2025 as a strategic asset for heavy-industry decarbonization
Cummins secured $2.1 million grant in January 2026 from the Centralia Coal Transition Grants Energy Technology Board to advance hybrid haul truck technology
Strategic alliance with Mitsui & Co., Ltd. to scale retrofit solutions for heavy haulage starting with mining
Named Competitors
Power Systems Division — Power technology and decarbonization solutions for mining and heavy industry
Mining Equipment & Services — Mining truck electrification and heavy equipment manufacturing
Mining Truck Solutions — Mining equipment and electrification retrofit solutions
Recent Developments
(January 2026) Cummins announced $2.1M grant to continue hybrid haul truck development at Centralia Proving Grounds through 2027
(February 2025) Cummins completed acquisition of First Mode assets following December 2024 bankruptcy filing
(December 2024) First Mode filed Chapter 11 bankruptcy after Anglo American halted funding
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