Caterpillar Announces Investment in Lithos Energy Inc. to Further Battery Pack Development and Manufacturing

The deal will assist speed up the event of Caterpillar’s electrified product portfolio

Caterpillar Inc. (NYSE:CAT) introduced that the corporate has invested in Lithos Vitality, Inc., a US-based battery know-how firm that manufactures lithium-ion battery packs.

“Caterpillar’s collaboration with Lithos helps our dedication to ship sturdy energy merchandise and options for our prospects,” stated Joe Creed, group president of Caterpillar’s Vitality & Transportation section. “Cat® gear – ​​no matter energy supply – is designed to function within the hardest situations.

Headquartered in San Rafael, California, Lithos makes a speciality of designing, engineering and manufacturing shock resistant and excessive efficiency battery options for purposes together with off-road and marine.

“We’re very excited to work with Caterpillar, particularly at a time when the main building equipment and gear producer is coming into a brand new age of operational effectivity and lowered emissions,” commented James Meredith, CEO of Lithos Vitality. “Caterpillar’s ahead considering, dedication to electrification and management place on the worldwide stage for gear producers make it a really perfect match. This funding will allow Lithos to speed up know-how growth and enlargement in manufacturing capability as we stay up for offering extra superior product choices to our new and current prospects.”

Caterpillar’s funding in Lithos additional demonstrates Caterpillar’s dedication to supporting prospects within the vitality transition utilizing low-carbon superior energy applied sciences for its hybrid and full-electric engines and energy technology merchandise. . The corporate not too long ago demonstrated 4 electrical building machine prototypes, together with battery prototypes, at bauma 2022 in Munich, Germany and efficiently demonstrated their first battery electrical 793 giant mining truck on the Tucson Proving Floor in Arizona.

About Caterpillar

With 2021 gross sales and income of $51.0 billion, Caterpillar Inc. is a number one producer of building and mining gear, off-highway diesel and pure fuel engines, industrial fuel generators and diesel-electric locomotives. For practically 100 years, we have helped prospects create a greater, extra sustainable world and are dedicated to and contributing to a low-carbon future. Our progressive services and products, backed by our international vendor community, present distinctive worth that helps prospects succeed. Caterpillar does enterprise on each continent, primarily working by way of three major segments – Building Industries, Useful resource Industries and Vitality & Transportation – and supplies finance and associated companies by way of our Merchandise section. Monetary. Go to us at caterpillar.com or be a part of the dialog on our social media channels.

About Lithos Vitality

Lithos Vitality, Inc is a San Francisco-based engineering firm that designs, builds and integrates lithium-ion battery methods. Based by two MIT engineers who beforehand labored for a number of the largest electrical car corporations in the USA, Lithos Vitality supplies customized vitality storage options to quite a lot of markets. The Lithos workforce is devoted to growing one of the best options for each utility, working with shoppers dedicated to creating nice merchandise for purchasers.

At Lithos, we perceive that behind each technological and product breakthrough is a bunch of devoted individuals who sweat the small print and who work tirelessly to create new, progressive options. We’re dedicated to the success of our shoppers, companions and initiatives. By providing in-house prototyping and manufacturing, we will quickly innovate and make sure that every product in manufacturing meets the exact specs required for the appliance. Go to Lithos Vitality at lithosenergy.com