Caterpillar Inc. has acquired Tangent Energy Solutions, an energy-as-a-service (EaaS) company that provides customers with turnkey solutions to reduce energy costs, improve energy efficiency, reduce emissions, monetise support for the power grid and ensure the sustainability of customer operations.
The acquisition of Tangent Energy also enables Caterpillar to work directly with utilities and energy suppliers to deliver Distributed Energy Resources (DER) solutions that rapidly increase capacity, increase the use of renewable energy on the grid, remove transmission and distribution constraints, offer generation balancing. and forecast demand.
Tangent Energy, headquartered in Kennett Square, Pennsylvania, provides proprietary Distributed Energy Resource Management System (DERMS) software solutions that track patterns on the grid and at customer sites, analyse opportunities in energy markets, and then allocate resources to maximise returns and monetise results without interrupting operations. normal business operations.
“Tangent Energy has developed an impressive suite of intelligent energy solutions that use advanced analytics to deliver value to customers,” said Jason Kaiser, vice president, Caterpillar Electric Power. “Tangent’s EaaS offerings serve as a great complement to Caterpillar’s broad portfolio of power products, enabling us to better serve our customers with reliable, efficient, sustainable and connected energy solutions that support business operations and create new revenue streams.”
Tangent Energy’s patented software solution is a proven DERMS platform that monitors, manages and monetises energy assets on site, including natural gas and renewable energy generation, storage and microgrids. Managing more than 6,000MW at nearly 6,500 customer sites, Tangent Energy has proved particularly beneficial for customers with high peak energy demand, such as large commercial and industrial customers, data centres, mining and energy utilities.
Tangent Energy Solutions will continue to offer services under the Tangent Energy brand and operate within the Caterpillar Electric Power division.
“Caterpillar is at the forefront of the industry, offering reliable and efficient energy solutions supported by advanced digital solutions,” said Dean Masser, president and CEO of Tangent Energy Solutions. “Customers choose Cat® energy solutions because of the long-term return on investment, and we look forward to working together to help create additional value through a compelling combination of our advanced technology with the customer relationships established by Caterpillar and the Cat dealer network. “.
Caterpillar delivers innovative power systems designed to be environmentally friendly, durable, reliable and economical. The company offers worldwide technical support, and parts and services are included in customer value agreements available through an authorized Cat service centre and dealer network. In addition, dealer technicians are trained to provide a wide range of maintenance and service services to help customers optimize the total cost of ownership of their Cat equipment.
Caterpillar Inc. with sales and revenues of $51.0 billion in 2021, is a leading global manufacturer of construction and mining equipment, off-road diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For almost 100 years we have been helping customers build a better and more sustainable world and strive for a low carbon future. Our innovative products and services, supported by our global dealer network, deliver exceptional value that helps customers succeed. Caterpillar does business on all continents, primarily operating in three main segments: construction, resource extraction and energy and transport, as well as providing financing and related services through our financial products segment. Visit us at caterpillar.com or join the discussion on our social media channels .