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CATERPILLAR ACQUIRES CARBONPOINT SOLUTIONS
Deerfield, IL – September 10, 2021 – 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 Solution’s’ 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 the team at 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).
About Caterpillar Oil & Gas
Caterpillar Oil & Gas, with headquarters in Houston, Texas, consolidates all the sales and service activities for Caterpillar Inc.’s oil and gas power solutions. Since the 1930s, Caterpillar has manufactured engines for the oilfield and today provides premier power solutions with outputs from 31 to 16,000 kW. The sales and service network includes more than 2,100 dealer locations world-wide dedicated to support customers in the drilling, production, well service and gas compression segments. More information is available at: cat.com/oilandgas
About Caterpillar
Since 1925, Caterpillar Inc. has been helping our customers build a better world – making sustainable progress possible and driving positive change on every continent. With 2019 sales and revenues of $53.8 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Services offered throughout the product life cycle, cutting-edge technology and decades of product expertise set Caterpillar apart, providing exceptional value to help our customers succeed. The company principally operates through three primary segments - Construction Industries, Resource Industries and Energy & Transportation - and provides financing and related services through its Financial Products segment. For more information, visit caterpillar.com. To connect on social media, visit caterpillar.com/social-media.
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