Caterpillar Inc. acquired Tangent Energy Solutions, a U.S.-based energy-as-a-service (EaaS) company.
This is one of many companies in the energy industry Caterpillar has acquired in recent years. According to Mergr.com, Caterpillar has acquired 38 companies total, including four during the past five years.
Headquartered in Kennett Square, Penn., Tangent Energy provides customers with turnkey solutions for reducing energy costs, increasing energy efficiency, reducing emissions, monetizing electric grid support and providing resiliency for customer operations.
Tangent Energy’s software solutions monitor patterns from grid and client facilities and analyze opportunities in energy markets. Then the software dispatches resources to maximize return without disrupting normal business operations. Tangent Energy Solutions will continue to offer services under the Tangent Energy brand. It will operate under Caterpillar’s Electric Power Division.
With 2021 sales and revenues of $51 billion, Caterpillar is one of the world's largest manufacturer of construction and mining equipment.
