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Tuesday, January 31, 2023

Caterpillar (NYSE: CAT) Announces Acquisition of CarbonPoint Solutions

Caterpillar Inc. (NYSE: CAT) declared that it has purchased Enhanced Energy Group, Inc. operating as CarbonPoint Solutions. CarbonPoint Solutions is based in Rhode Island and gained recognition as a provider of technology to concentrate and capture CO2 for utilization or sequestration.

Carbon capture systems leveraging CarbonPoint Solutions’ patented processes can be applied to engines and turbines at oil and gas sites, distributed power and industrial plants, and waste-to-energy sites. Caterpillar vowed to take part in the effort to cut carbon in the future.

The firm has shown this in various ways including its continued investment in new products, technologies, and services to back its customers attain their climate-related objectives as they build a better, more sustainable world. CarbonPoint Solutions is excited to join hands with Caterpillar. The firm is striving to rapid implementation of the Semi-Closed Cycle and carbon capture for Cat engines and Solar gas turbines.

Furthermore, it has been disclosed that integrating CarbonPoint Solutions’ patented technology with Caterpillar Oil & Gas solutions allows CAT to further cut greenhouse gas emissions while assisting its customers in fulfilling their climate-related objectives. With 2020 sales and revenues of $41.7 billion, Caterpillar Inc. has gained recognition as a top manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives.

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