NEWS & UPDATES
SEPTEMBER 10, 2021 - CATERPILLAR ACQUIRES CARBONPOINT SOLUTIONS
Deerfield, IL – Caterpillar Inc. (NYSE:CAT) has completed the acquisition of 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 Inc. and responsible for the 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.
This acquisition is aligned with Caterpillar’s commitment to environmental, social and corporate governance (ESG).
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.
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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.