Caterpillar acquires energy-as-a-service company Tangent Energy Solutions

Caterpillar, a manufacturer of construction and mining equipment, has acquired Pennsylvania-based energy-as-a-service (EaaS) company Tangent Energy Solutions for an undisclosed price.

Tangent Energy Solutions helps customers with turnkey solutions for bringing down energy costs, boosting energy efficiency, cutting down emissions, monetization of electric grid support, and offering resiliency for customer operations.

Jason Kaiser — Caterpillar Electric Power vice president said: “Tangent Energy has developed a suite of intelligent energy solutions that leverages advanced analytics to provide value to customers.

“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.”

Caterpillar acquires energy-as-a-service company Tangent Energy Solutions. Photo courtesy of Caterpillar.

Tangent Energy Solutions has developed software solutions that are said to track patterns from the grid and facilities of clients, analyze opportunities across energy markets, and then dispatch resources for maximizing return without the disruption of regular business operations.

Dean Musser — Tangent Energy Solutions president and CEO said: “Caterpillar is at the forefront of the industry in delivering robust and efficient power solutions supported by advanced digital offerings.

“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.”

Tangent Energy Solutions will continue to provide services under the Tangent Energy brand and operate under the electric power unit of Caterpillar.