Caterpillar Acquires Tangent Energy Solutions
DEERFIELD, Ill.† May 5, 2022 /PRNewswire/ — Caterpillar Inc. (NYSE: CAT) has acquired Tangent Energy Solutions, a US-based energy-as-a-service (EaaS) company. Headquartered in Kennett Square, PennsylvaniaTangent Energy provides customers with turnkey solutions for reducing energy costs, increasing energy efficiency, reducing emissions, monetizing electric grid support and providing resiliency for customer operations.
“Tangent Energy has developed a suite of intelligent energy solutions that leverages advanced analytics to provide value to customers,” said Jason Kaiser, vice president of Caterpillar Electric Power. “Tangent’s EaaS offerings complement Caterpillar’s broad portfolio of electric power products, enabling us to better serve customers for reliable, efficient, sustainable and connected power solutions that support business operations while generating new revenue streams.”
Tangent Energy’s proprietary software solutions monitor patterns from grid and client facilities, analyze opportunities in energy markets, and then dispatch resources to maximize return without disrupting normal business operations.
“Caterpillar is at the forefront of the industry in delivering robust and efficient power solutions supported by advanced digital offerings,” said Dean Musser, president and chief executive officer of Tangent Energy Solutions. “Customers select Cat® power solutions for the long-term return on investment, and we look forward to working together to help deliver additional value through the compelling combination of our cutting-edge technologies with the customer relationships established by Caterpillar and the Cat dealer network .”
Tangent Energy Solutions will continue to offer services under the Tangent Energy brand and operate under Caterpillar’s Electric Power Division.
With 2021 sales and revenues of $51.0 billion, Caterpillar Inc. is the world’s leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For nearly 100 years, we’ve been helping customers build a better, more sustainable world and are committed and contributing to a reduced-carbon future. Our innovative products and services, backed by our global dealer network, provide exceptional value that helps customers succeed. Caterpillar does business on every continent, principally operating through three primary segments – Construction Industries, Resource Industries and Energy & Transportation – and providing financing and related services through our Financial Products segment. Visit us at caterpillar.com or join the conversation on our social media channels†
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SOURCE Caterpillar Inc.