Caterpillar and Certarus Sign Memorandum of Understanding to Explore Lower Carbon Energy Solutions

Rhea-AI Summary

Caterpillar Inc. (NYSE: CAT) and Certarus Ltd. have signed a Memorandum of Understanding to explore lower carbon energy solutions. This collaboration aims to enhance the use of conventional and renewable natural gas and hydrogen. Certarus' CEO Curtis Philippon expressed enthusiasm for developing tools that help commercial customers lower carbon intensity, while Caterpillar's Group President Joe Creed highlighted the partnership's potential to combine expertise for comprehensive solutions in the energy transition. The collaboration is poised to benefit both companies and their customers.

Positive

• Collaboration with Certarus to develop lower carbon energy solutions, enhancing Caterpillar's position in the clean energy sector.
• Joint efforts aim to reduce carbon intensity for commercial customers, promoting environmental and economic benefits.

Negative

• None.

DEERFIELD, Ill., April 26, 2021 /PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) and Certarus Ltd. (Calgary, Alberta) announced today that they have entered a Memorandum of Understanding to explore opportunities to leverage each parties' strengths to bring lower carbon energy solutions to their combined customer base.

The MOU outlines key areas where the two companies will work together to advance the use of lower carbon fuels including conventional and renewable natural gas and hydrogen.

"Certarus is excited to work with Caterpillar on the transition to a lower carbon future," said Curtis Philippon, CEO of Certarus. "Together we will develop the tools to enable commercial customers to reduce their carbon intensity and achieve environmental and economic benefits. Through our collaboration we are quickly becoming leaders in the integration of hydrogen as a clean energy solution."

"Working with Certarus to develop future lower carbon solutions for the industries we serve is a natural extension of our relationship," said Joe Creed, Group President, Energy & Transportation. "We believe our teamwork will combine valuable expertise from our companies to deliver comprehensive customer solutions for the energy transition."

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.

About Certarus Ltd.
Certarus is the North American leader in providing low carbon energy solutions through a fully integrated compressed natural gas (CNG), renewable natural gas (RNG) and hydrogen platform. The company safely delivers clean burning fuels to energy, utility, agricultural and industrial customers not connected to a pipeline. By displacing more carbon intensive fuels, Certarus is leading the clean energy transition and helping customers lower operating costs and improve environmental performance. With the largest fleet of specialty trailers in the world, the company is uniquely positioned to meet the growing demand for low or zero emission fuel distribution. Learn more at: www.certarus.com

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SOURCE Caterpillar Inc.