Posted on May 9, 2022
Caterpillar Inc. (NYSE: CAT) has acquired Tangent Energy Solutions, a Kennett Square, Pennsylvania, U.S.-based energy-as-a-service (EaaS) company.
The amount of the deal was not disclosed.
Led by Dean Musser, president and chief executive officer, Tangent Energy provides customers with solutions for reducing energy costs, increasing energy efficiency, reducing emissions, monetizing electric grid support and providing resiliency for customer operations.
Its 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.
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 a manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company 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.
Source: CATERPILLAR
