DEERFIELD, Ill., Sept. 10, 2021 /PRNewswire/
-- Caterpillar Inc. (NYSE:CAT) has acquired
Enhanced Energy Group, Inc. operating as "CarbonPoint Solutions," a
U.S.-based carbon capture technology company. Headquartered in
Rhode Island, CarbonPoint
Solutions provides technology to concentrate and capture
CO2 for utilization or sequestration.
Carbon capture systems using CarbonPoint Solutions' patented
processes can be applied to engines and turbines at oil and gas
sites, distributed power and industrial plants and waste-to-energy
sites.
"Combining CarbonPoint Solutions' patented technology with
Caterpillar Oil & Gas solutions enables us to further reduce
greenhouse gas emissions while helping our customers meet their
climate-related objectives," said Rod
Shurman, vice president of Caterpillar's Oil & Gas and
Marine Division.
"We are extremely pleased to join Caterpillar and look forward
to rapid deployment of the Semi-Closed Cycle and carbon capture for
Cat engines and Solar gas turbines," said Paul Dunn, president and founder of CarbonPoint
Solutions.
Caterpillar is committed to contributing to a reduced-carbon
future. We demonstrate this in many ways including our continued
investment in new products, technologies and services to help our
customers achieve their climate-related objectives as they build a
better, more sustainable world.
About Caterpillar
With 2020 sales and revenues of $41.7
billion, Caterpillar Inc. is the world's leading
manufacturer of construction and mining equipment, diesel and
natural gas engines, industrial gas turbines, and diesel-electric
locomotives. Since 1925, we've been driving sustainable progress
and helping customers build a better world through innovative
products and services. Throughout the product life cycle, we offer
services built on cutting-edge technology and decades of product
expertise. These products and services, backed by our global dealer
network, provide exceptional value to help our customers succeed.
We do 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. Visit us at caterpillar.com or join the conversation on
our social media channels at caterpillar.com/social-media.
Forward-Looking Statements
Certain statements in this financial review relate to future
events and expectations and are forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Words such as "believe," "estimate," "will be," "will,"
"would," "expect," "anticipate," "plan," "forecast," "target,"
"guide," "project," "intend," "could," "should" or other similar
words or expressions often identify forward-looking statements. All
statements other than statements of historical fact are
forward-looking statements, including, without limitation,
statements regarding our outlook, projections, forecasts or trend
descriptions. These statements do not guarantee future performance
and speak only as of the date they are made, and we do not
undertake to update our forward-looking statements.
Caterpillar's actual results may differ materially from those
described or implied in our forward-looking statements based on a
number of factors, including, but not limited to: (i) global and
regional economic conditions and economic conditions in the
industries we serve; (ii) commodity price changes, material price
increases, fluctuations in demand for our products or significant
shortages of material; (iii) government monetary or fiscal
policies; (iv) political and economic risks, commercial instability
and events beyond our control in the countries in which we operate;
(v) international trade policies and their impact on demand for our
products and our competitive position, including the imposition of
new tariffs or changes in existing tariff rates; (vi) our ability
to develop, produce and market quality products that meet our
customers' needs; (vii) the impact of the highly competitive
environment in which we operate on our sales and pricing; (viii)
information technology security threats and computer crime; (ix)
inventory management decisions and sourcing practices of our
dealers and our OEM customers; (x) a failure to realize, or a delay
in realizing, all of the anticipated benefits of our acquisitions,
joint ventures or divestitures; (xi) union disputes or other
employee relations issues; (xii) adverse effects of unexpected
events; (xiii) disruptions or volatility in global financial
markets limiting our sources of liquidity or the liquidity of our
customers, dealers and suppliers; (xiv) failure to maintain our
credit ratings and potential resulting increases to our cost of
borrowing and adverse effects on our cost of funds, liquidity,
competitive position and access to capital markets; (xv) our
Financial Products segment's risks associated with the financial
services industry; (xvi) changes in interest rates or market
liquidity conditions; (xvii) an increase in delinquencies,
repossessions or net losses of Cat Financial's customers; (xviii)
currency fluctuations; (xix) our or Cat Financial's compliance with
financial and other restrictive covenants in debt agreements; (xx)
increased pension plan funding obligations; (xxi) alleged or actual
violations of trade or anti-corruption laws and regulations; (xxii)
additional tax expense or exposure, including the impact of U.S.
tax reform; (xxiii) significant legal proceedings, claims, lawsuits
or government investigations; (xxiv) new regulations or changes in
financial services regulations; (xxv) compliance with environmental
laws and regulations; (xxvi) the duration and geographic spread of,
business disruptions caused by, and the overall global economic
impact of, the COVID-19 pandemic; and (xxvii) other factors
described in more detail in Caterpillar's Forms 10-Q, 10-K and
other filings with the Securities and Exchange Commission.
A reconciliation of non-GAAP financial information can be found
in our press release describing second-quarter 2021 financial
results which is available on our website at
www.caterpillar.com/earnings.
View original
content:https://www.prnewswire.com/news-releases/caterpillar-acquires-carbonpoint-solutions-301373323.html
SOURCE Caterpillar Inc.