Caterpillar Inc. has acquired Tangent Energy Solutions, a U.S.-based energy-as-a-service (EaaS) company, which will now operate under Caterpillar’s Electric Power Division.
Headquartered in Kennett Square, Pennsylvania, Tangent Energy seeks to provide customers with turnkey solutions for reducing energy costs, increasing energy efficiency, reducing emissions, monetizing electric grid support and providing resiliency for customer operations.
RELATED: Caterpillar sees 14% revenue increase in first quarter
“Tangent Energy has developed a suite of intelligent energy solutions that leverages advanced analytics to provide value to customers,” said Jason Kaiser, vice president of Caterpillar Electric Power. “Tangent’s EaaS offerings complement Caterpillar’s broad portfolio of electric power products, enabling us to better serve customers for reliable, efficient, sustainable and connected power solutions that support business operations while generating new revenue streams.”
Tangent Energy’s proprietary software solutions monitor patterns from grid and client facilities, analyze opportunities in energy markets and then dispatch resources based on the information collected. Through its software solutions, the company aims to maximize return without disrupting normal business operations.
“Caterpillar is at the forefront of the industry in delivering robust and efficient power solutions supported by advanced digital offerings,” said Dean Musser, president and chief executive officer of Tangent Energy Solutions. “Customers select Cat® power solutions for the long-term return on investment, and we look forward to working together to help deliver additional value through the compelling combination of our cutting-edge technologies with the customer relationships established by Caterpillar and the Cat dealer network.”
