Caterpillar bets on clean energy transition for construction growth

28 May 2022 CW Team

Construction equipment maker Caterpillar is placing its bets on the clean energy transition and improved global energy demand for future growth in the construction industry.

The manufacturer is sitting in a sweet place to aid customers to deliver on the $5 trillion in energy transition-related infrastructure investment over the next 20 years, said Jim Umpleby, Chairman, and CEO, during Caterpillar's Investor Day event held May 17 in Grapevine, Texas.

The event concentrated heavily on Caterpillar’s services, technology, sustainability, and long-term development opportunities in those areas.

Umpleby and the company leadership emphasised several elements driving investment and the raised need for equipment and services in the construction industry, resource industries, and energy and transportation sectors.

With that in mind, Caterpillar declared sustainability as a new strategic focus area, along with operational excellence, expanded offerings, and services, to support customers to produce a better, more sustainable world. Part of that focus will comprise increased investments in research and development (R&D) over the next five years to boost technology deployment.

Umpleby said that there are many additional perspectives on how growing global energy needs will be fulfilled in the forthcoming decades. Caterpillar is well-positioned to profit from the increasing global energy need, regardless of the blend between renewables and traditional energy sources. The company's track record of attaining high margins gives us the flexibility to expand technology investments in aid of further gains in autonomy, connectivity, alternative fuels, digital, and electrification.

At the core of the sustainability transformation of Caterpillar is power. Caterpillar’s energy and transportation group contains locomotives, gas turbines, engines, and generators, and the company’s remanufacturing division. Currently, the division is operating to combine established power sources of today with advanced power sources for the future.

Energy & Transportation Group President Joe Creed told the media that one of the immediate things the companies can do to aid customers to reduce their carbon footprint right now is to use low carbon intensity fuels.

Caterpillar aims to produce battery solutions designed to be scaled up or down to satisfy the power needs of a variety of machines and applications.

Image Source

Also read: Caterpillar to expand in India, launches two next-gen products

Construction equipment maker Caterpillar is placing its bets on the clean energy transition and improved global energy demand for future growth in the construction industry. The manufacturer is sitting in a sweet place to aid customers to deliver on the $5 trillion in energy transition-related infrastructure investment over the next 20 years, said Jim Umpleby, Chairman, and CEO, during Caterpillar's Investor Day event held May 17 in Grapevine, Texas. The event concentrated heavily on Caterpillar’s services, technology, sustainability, and long-term development opportunities in those areas. Umpleby and the company leadership emphasised several elements driving investment and the raised need for equipment and services in the construction industry, resource industries, and energy and transportation sectors. With that in mind, Caterpillar declared sustainability as a new strategic focus area, along with operational excellence, expanded offerings, and services, to support customers to produce a better, more sustainable world. Part of that focus will comprise increased investments in research and development (R&D) over the next five years to boost technology deployment. Umpleby said that there are many additional perspectives on how growing global energy needs will be fulfilled in the forthcoming decades. Caterpillar is well-positioned to profit from the increasing global energy need, regardless of the blend between renewables and traditional energy sources. The company's track record of attaining high margins gives us the flexibility to expand technology investments in aid of further gains in autonomy, connectivity, alternative fuels, digital, and electrification. At the core of the sustainability transformation of Caterpillar is power. Caterpillar’s energy and transportation group contains locomotives, gas turbines, engines, and generators, and the company’s remanufacturing division. Currently, the division is operating to combine established power sources of today with advanced power sources for the future. Energy & Transportation Group President Joe Creed told the media that one of the immediate things the companies can do to aid customers to reduce their carbon footprint right now is to use low carbon intensity fuels. Caterpillar aims to produce battery solutions designed to be scaled up or down to satisfy the power needs of a variety of machines and applications. Image Source Also read: Caterpillar to expand in India, launches two next-gen products

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