Caterpillar to Expand Hydrogen-Powered Solutions to Customers

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Sep 01, 2021, 11:00 ET

DEERFIELD, Ill., Sept. 1, 2021 /PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) today announced it will begin offering Cat^® generator sets capable of operating on 100% hydrogen, including fully renewable green hydrogen, on a designed-to-order basis in late 2021. More immediately, the company will launch commercially available power generation solutions that can be configured to operate on natural gas blended with up to 25% hydrogen.

These market-focused innovations build upon Caterpillar's hydrogen solutions portfolio, including Solar® Turbines' gas turbine generator sets, which have run on high hydrogen blends for decades and are capable of operating on 100% hydrogen today. The ability to work with hydrogen fuel helps address customers' carbon-reduction goals with high-performing, cost-effective technologies.

"At Caterpillar, we are working alongside our customers to understand their needs, and they are looking for reliable power sources that support their climate-related goals," said Joe Creed, Caterpillar group president of Energy & Transportation. "Our continued investment in new products, technologies and services is one way we're supporting them with the quality solutions they've come to count on from Caterpillar."

With the reciprocating engine capabilities of up to 100% hydrogen, Caterpillar is expanding on its legacy in gas engines and Solar® gas turbines with more than 35 years of experience with high-hydrogen fuel. Caterpillar continues to make investments aimed at improving the capability of hydrogen-powered solutions and replicating them across engine platforms as this fuel will likely play a role in customers' plans for a reduced-carbon future.

About Caterpillar

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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Caterpillar's actual results may differ materially from those described or implied in our forward-looking statements based on a number of factors, including, but not limited to: (i) global and regional economic conditions and economic conditions in the industries we serve; (ii) commodity price changes, material price increases, fluctuations in demand for our products or significant shortages of material; (iii) government monetary or fiscal policies; (iv) political and economic risks, commercial instability and events beyond our control in the countries in which we operate; (v) international trade policies and their impact on demand for our products and our competitive position, including the imposition of new tariffs or changes in existing tariff rates; (vi) our ability to develop, produce and market quality products that meet our customers' needs; (vii) the impact of the highly competitive environment in which we operate on our sales and pricing; (viii) information technology security threats and computer crime; (ix) inventory management decisions and sourcing practices of our dealers and our OEM customers; (x) a failure to realize, or a delay in realizing, all of the anticipated benefits of our acquisitions, joint ventures or divestitures; (xi) union disputes or other employee relations issues; (xii) adverse effects of unexpected events; (xiii) disruptions or volatility in global financial markets limiting our sources of liquidity or the liquidity of our customers, dealers and suppliers; (xiv) failure to maintain our credit ratings and potential resulting increases to our cost of borrowing and adverse effects on our cost of funds, liquidity, competitive position and access to capital markets; (xv) our Financial Products segment's risks associated with the financial services industry; (xvi) changes in interest rates or market liquidity conditions; (xvii) an increase in delinquencies, repossessions or net losses of Cat Financial's customers; (xviii) currency fluctuations; (xix) our or Cat Financial's compliance with financial and other restrictive covenants in debt agreements; (xx) increased pension plan funding obligations; (xxi) alleged or actual violations of trade or anti-corruption laws and regulations; (xxii) additional tax expense or exposure, including the impact of U.S. tax reform; (xxiii) significant legal proceedings, claims, lawsuits or government investigations; (xxiv) new regulations or changes in financial services regulations; (xxv) compliance with environmental laws and regulations; (xxvi) the duration and geographic spread of, business disruptions caused by, and the overall global economic impact of, the COVID-19 pandemic; and (xxvii) other factors described in more detail in Caterpillar's Forms 10-Q, 10-K and other filings with the Securities and Exchange Commission.

SOURCE Caterpillar Inc.