For Worldwide Release: May 5, 2022
DEERFIELD, IL - Caterpillar Inc. today announced the purchase of Tangent Energy Solutions, an energy-as-a-service (EaaS) company that provides customers with turnkey solutions for reducing energy costs, increasing energy efficiency, reducing emissions, monetizing electric grid support, and providing resiliency for customer operations.
The acquisition of Tangent Energy also positions Caterpillar to work directly with utilities and energy providers to supply distributed energy resources (DERs) that rapidly grow capacity, increase the utilization of renewable sources of energy on the grid, alleviate transmission and distribution constraints, offer generation balancing, and anticipate demand.
Headquartered in Kennett Square, Penn., Tangent Energy provides proprietary Distributed Energy Resource Management System (DERMS) software solutions that monitor patterns from the grid and client facilities, analyze opportunities in energy markets, and then dispatch resources to maximize return and monetize results without disrupting normal business operations.
“Tangent Energy has developed an impressive suite of intelligent energy solutions that leverages advanced analytics to provide value to customers,” said Jason Kaiser, vice president of Caterpillar Electric Power. “Tangent’s EaaS offerings serve as perfect complements to 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.”
Tangent Energy’s proprietary software solution is a proven DERMS platform that monitors, manages and monetizes on-site energy assets, including natural gas and renewable power generation, storage and microgrids. Managing over 6,000 MW at nearly 6,500 customer sites, Tangent Energy has proven to be especially beneficial to customers with high peak energy demands such as large commercial and industrial customers, data centers, mining operations, and energy utilities.
Tangent Energy Solutions will continue to offer services under the Tangent Energy brand and operate under Caterpillar’s Electric Power Division.
“Caterpillar is at the forefront of the industry in delivering robust and efficient power solutions supported by advanced digital offerings,” said Dean Musser, president and chief executive officer of Tangent Energy Solutions. “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.”
Caterpillar delivers innovative power systems engineered for sustainability, durability, reliability and value. The company offers worldwide product support, with parts and services packaged in customer value agreements available through the Cat authorized service and dealer network. In addition, dealer technicians are trained to provide a comprehensive range of maintenance and services that help customers optimize the total cost of ownership of Cat equipment.
About Tangent Energy Solutions, Inc.
Tangent Energy Solutions, Inc., is a Distributed Energy Resources (DER) company that provides large commercial and industrial energy users with the ability to reduce energy costs during peak demand periods on the energy grid. Our customer-side Distributed Energy Resource Management System (DERMS) actively manages behind-the-meter supply and demand to maximize economic opportunities for C&I energy customers, while minimizing disruption to normal operations. By uniquely building out a DER solution from the customer side of the meter and monetizing it through energy markets and energy retailers, Tangent motivates and empowers customers to become price makers on the energy grid while offering customers the industry plug-and-play access that competitors cannot match. Visit tangentenergy.com.
For more than 90 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. Customers turn to Caterpillar to help them develop infrastructure, energy and natural resource assets. With 2021 sales and revenues of $51.0 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. The company principally operates through its three primary segments - Construction Industries, Resource Industries and Energy & Transportation - and also 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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