Caterpillar is investing in a battery technology company that produces lithium-ion battery packs. The amount of the investment was not disclosed.
Lithos Energy, based in San Rafael, California, engineers and manufactures “shock resistant and high-performance” batteries for use off-road applications, according to Caterpillar.
“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, in a statement. “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.”
Said Lithos Energy CEO James Meredith in a statement:
“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. 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.”
Source: Caterpillar
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Rod Sutton
Sutton has served as the editorial lead of Construction Equipment magazine and ConstructionEquipment.com since 2001.
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