Caterpillar Acquires Tangent Energy Solutions For Undisclosed Sum

  • Caterpillar Inc. CAT has acquired Tangent Energy Solutions, a U.S.-based energy-as-a-service (EaaS) company. Deal terms were not disclosed.
  • Kennett Square, Pennsylvania-based Tangent offers customers turnkey solutions to lower energy costs, boost energy efficiency, reduce emissions, monetize electric grid support, and provide resiliency for customer operations.
  • Tangent's 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 will continue to offer services under its brand and operate under Caterpillar's Electric Power Division.
  • Caterpillar held cash and equivalents of $6.53 billion as of March 31, 2022.
  • Price Action: CAT shares are trading lower by 2.43% at $217.17 on the last check Thursday.
  • Photo Via Wikimedia Commons
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