IIB - In a play to improve its access to emerging technologies and companies, Cummins Inc. has joined a Switzerland-based venture firm as a limited partner.

The Columbus-based manufacturer is now among more than 50 companies that have invested in Emerald Technology Ventures, a Zurich-based venture firm that focuses on sustainable industrial innovation.

“Innovation has always been central to Cummins’ ability to help customers succeed through industry transitions,” Cummins Vice President of Corporate Strategy Jeff Wiltrout said in a written statement. “Our relationship with Emerald provides another channel to identify and evaluate technologies that could support our customers’ evolving needs and furthers our growth strategy.”

Cummins made the announcement Aug. 28.

In the world of investing, a limited partner is a party that puts money into an investment fund but is not involved in the operations or management of that fund.

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Cummins declined to say how much it has invested in Emerald.

But Cummins said that as an LP, it will have targeted access to startups working in the areas of energy systems, electrification, digitalization, mobility and industrial technologies. Among other things, Cummins will also have access to Emerald’s investment teams and its global network, which includes investors and technology leaders.

Emerald launched in 2000 as the venture capital arm of Sustainable Asset Management, a Swiss pioneer in sustainable investing. Today, Emerald advises assets of about $1.5 billion dollars and has offices in Zurich, Toronto and Singapore.

In its announcement, Cummins said Emerald’s areas of investment dovetail with its own strategic priorities in the areas of software-defined and connected vehicles, advanced powertrain technologies, batteries and electrification, clean energy solutions, energy efficiency and power management, and data center and grid-related innovations.

In 2019, Cummins established what it then called its New Power segment to encompass its emerging business in a range of green technologies. Cummins rebranded that unit as Accelera in 2023.

Cummins is among dozens of companies — some of them with Indiana connections — that have invested in Emerald.

The list includes Irving, Texas-based heavy equipment maker Caterpillar, which has operations in Franklin, Lafayette and Muncie; Germany-based Evonik, which has operations in Lafayette; Germany-based maker of power tools Festool, whose North American headquarters is in Lebanon; Denmark-based Grundfos, whose subsidiaries include Indianapolis-based Peerless Pump; and Germany-based advanced materials maker Schott, which has operations in Vincennes.