Offer will support to accelerate the advancement of Caterpillar’s electrified product or service portfolio
IRVING, Texas, Jan. 6, 2023 /PRNewswire/ — Caterpillar Inc. (NYSE:CAT) declared the corporation is investing in Lithos Energy, Inc., a U.S.-dependent battery engineering corporation that provides lithium-ion battery packs.
“Caterpillar’s collaboration with Lithos supports our commitment to offering strong electrified merchandise and options for our shoppers,” claimed Joe Creed, team president of Caterpillar’s Energy & Transportation section. “Cat® devices – no matter of its energy source – is designed to function in the most demanding situations. Lithos’ knowledge manufacturing battery packs for in the same way demanding environments will be an asset as we continue our electrified products advancement.”
Headquartered in San Rafael, California, Lithos specializes in designing, engineering and manufacturing shock resistant and superior functionality battery options for purposes together with off-road and marine.
“We are extremely excited to be doing the job with Caterpillar, primarily at a time when the primary development equipment and gear maker is coming into a new age of effectiveness and decreased emission operation,” commented James Meredith, CEO of Lithos Electricity. “Caterpillar’s ahead wondering, motivation to electrification and leadership situation on the world-wide stage for equipment makers make this an excellent match. This funding will enable Lithos to speed up know-how development and scale up production potential as we seem forward to delivering increasingly highly developed merchandise offerings to our new and existing shoppers.”
Caterpillar’s financial investment in Lithos even further demonstrates Caterpillar’s determination to aid buyers in the electricity transition with decreased-carbon advanced energy technologies for its hybrid and whole-electric equipment and electric power technology products. The corporation recently displayed four electric powered construction device prototypes, including battery prototypes, at bauma 2022 in Munich, Germany and correctly demonstrated its very first battery electric 793 huge mining truck at its Tucson Proving Ground in Arizona.
About Caterpillar
With 2021 sales and revenues of $51. billion, Caterpillar Inc. is the world’s primary manufacturer of construction and mining machines, off-freeway diesel and purely natural gasoline engines, industrial gasoline turbines and diesel-electric locomotives. For virtually 100 a long time, we’ve been aiding prospects construct a greater, extra sustainable world and are fully commited and contributing to a minimized carbon long term. Our modern items and products and services, backed by our world-wide vendor community, give exceptional value that helps customers be successful. Caterpillar does business on each and every continent, principally working via a few major segments – Construction Industries, Resource Industries and Vitality & Transportation – and furnishing funding and linked solutions by way of our Monetary Items phase. Go to us at caterpillar.com or sign up for the conversation on our social media channels.
About Lithos Power
Lithos Energy, Inc is a San Francisco based mostly engineering firm that layouts, builds and integrates lithium-ion battery devices. Founded by two MIT engineers who had beforehand worked for some of the biggest electrical motor vehicle businesses in the United States, Lithos Strength delivers custom power storage answers to a variety of markets. The Lithos crew is committed to building the greatest alternatives for just about every application, doing work with clientele who are committed to creating excellent solutions for buyers.
At Lithos, we comprehend that behind each and every technological and products breakthrough is a group of committed individuals who sweat the facts and who do the job tirelessly to produce new, revolutionary remedies. We are dedicated to the achievements of our clientele, partners and jobs. By giving in-property prototyping and generation, we can rapidly innovate and make certain that each manufacturing item fulfills the exacting specs expected for the software. Go to Lithos Energy at lithosenergy.com
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Caterpillar’s actual success might differ materially from these described or implied in our ahead-on the lookout statements centered on a quantity of aspects, such as, but not minimal to: (i) worldwide and regional economic circumstances and economic situations in the industries we provide (ii) commodity selling price changes, product cost raises, fluctuations in need for our items or major shortages of product (iii) federal government monetary or fiscal guidelines (iv) political and economic risks, industrial instability and gatherings outside of our manage in the nations in which we function (v) worldwide trade insurance policies and their effect on demand for our solutions and our aggressive placement, like the imposition of new tariffs or improvements in existing tariff costs (vi) our capability to develop, make and current market high-quality solutions that satisfy our customers’ desires (vii) the influence of the really aggressive atmosphere in which we run on our revenue and pricing (viii) facts technology stability threats and computer system crime (ix) inventory administration conclusions and sourcing methods of our dealers and our OEM buyers (x) a failure to recognize, or a hold off in realizing, all of the expected rewards of our acquisitions, joint ventures or divestitures (xi) union disputes or other employee relations troubles (xii) adverse results of surprising functions (xiii) disruptions or volatility in world fiscal markets limiting our sources of liquidity or the liquidity of our clients, dealers and suppliers (xiv) failure to keep our credit history rankings and possible resulting boosts to our cost of borrowing and adverse consequences on our value of resources, liquidity, competitive situation and entry to cash markets (xv) our Money Goods segment’s dangers associated with the monetary services industry (xvi) adjustments in desire rates or market place liquidity conditions (xvii) an boost in delinquencies, repossessions or net losses of Cat Financial’s prospects (xviii) currency fluctuations (xix) our or Cat Financial’s compliance with monetary and other restrictive covenants in credit card debt agreements (xx) amplified pension strategy funding obligations (xxi) alleged or true violations of trade or anti-corruption legal guidelines and laws (xxii) supplemental tax cost or publicity, like the influence of U.S. tax reform (xxiii) considerable legal proceedings, statements, lawsuits or govt investigations (xxiv) new laws or changes in economical services restrictions (xxv) compliance with environmental guidelines and laws (xxvi) the period and geographic spread of, company disruptions induced by, and the all round world economic affect of, the COVID-19 pandemic and (xxvii) other elements described in a lot more element in Caterpillar’s Types 10-Q, 10-K and other filings with the Securities and Exchange Fee.
A reconciliation of non-GAAP economical data can be observed in our press release describing second-quarter 2021 money outcomes which is out there on our web-site at www.caterpillar.com/earnings.
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