Caterpillar buys Tangent Energy Solutions
Caterpillar Inc. (NYSE: CAT) has acquired Tangent Energy Solutions, a Kennett Square, Pennsylvania, U.S.-based energy-as-a-service (EaaS) company. The amount of the deal has not been disclosed. President and chief executive officer of Tangent Energy, Dean Musser is leading the company. Its software solutions are able to monitor grid patterns and analyze energy markets. They then send resources to maximize return without disrupting business operations. Tangent Energy Solutions will continue to offer services under the Tangent Energy brand and operate under Caterpillar’s Electric Power Division. Caterpillar Inc. has 2021 revenues and $51.0 billion in sales. It is a manufacturer for construction and mining machinery, off-highway diesel engines and natural gas engines as well as industrial gas turbines. The company does 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.