Caterpillar to Increase Electrified Product Portfolio

(Credit: Caterpillar)

Caterpillar recently announced their investment in Lithos Energy Inc., indicating a commitment to furthering battery pack development and manufacturing. This move demonstrates the company’s dedication to investing in renewable energy solutions, allowing them to better meet customer demand for clean technology products. With this partnership, Caterpillar is poised to take advantage of new market opportunities and be at the forefront of sustainable innovation.

“Caterpillar’s collaboration with Lithos supports our commitment to delivering robust electrified products and solutions for our customers,” said Joe Creed, group president of Caterpillar’s Energy & Transportation segment. “Cat® equipment – regardless of its power source – is designed to operate in the most demanding conditions. Lithos’ experience manufacturing battery packs for similarly demanding environments will be an asset as we continue our electrified product development.”

With its headquarters based in San Rafael, California, Lithos is a leading provider of shock-resistant and high-performance battery solutions for off-road and marine applications.

“We are extremely excited to be working with Caterpillar, especially at a time when the leading construction machinery and equipment manufacturer is entering a new age of efficiency and reduced emission operation,” commented James Meredith, CEO of Lithos Energy. “Caterpillar’s forward-thinking, commitment to electrification, and leadership position on the global stage for equipment manufacturers make this an ideal match. This funding will enable Lithos to accelerate technology development and scale up manufacturing capacity as we look forward to providing increasingly advanced product offerings to our new and existing customers.”