DEERFIELD, Ill., May 31, 2022
/PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) today announced a
three-year project with Minnesota-based District Energy St. Paul to
demonstrate a hydrogen-fueled combined heat and power (CHP) system.
The project is supported and partially funded by the U.S.
Department of Energy and backed by the National Renewable Energy
Laboratory.
"Caterpillar is focused on supporting our customers with
reliable, sustainable power solutions," said Joe Creed, Caterpillar group president of Energy
and Transportation. "This hydrogen demonstration project will
enable us to evaluate additional hydrogen fuel options for an
existing energy-efficient engine, providing even more possibilities
for helping our customers meet their climate-related goals and
objectives."
CHP systems from Caterpillar provide both electricity and heat
simultaneously, increasing overall efficiency and reducing exhaust
emissions. To assess the potential of a hydrogen-fueled CHP system
under real-world operating conditions, power and heat from the
demonstration project will integrate into District Energy St.
Paul's electrical and thermal infrastructure. District Energy St.
Paul distributes chilled water and hot water to heat and cool
buildings and single-family homes in downtown St. Paul, Minnesota, and adjacent areas.
Scheduled to start early next year, the demonstration project
builds on Caterpillar's 35 years of experience with high-hydrogen
fuel. The company currently offers a 1250 kW Cat®
generator set capable of operating on 100% hydrogen, including
fully renewable green hydrogen, on a designed-to-order basis, as
well as commercially available power generation solutions from 400
kW to 4.5 MW that can be configured to operate on natural gas
blended with up to 25% hydrogen.
About Caterpillar
With 2021 sales and revenues of
$51.0 billion, Caterpillar Inc. is
the world's leading manufacturer of construction and mining
equipment, off-highway diesel and natural gas engines, industrial
gas turbines and diesel-electric locomotives. For nearly 100 years,
we've been helping customers build a better, more sustainable world
and are committed and contributing to a reduced-carbon future. Our
innovative products and services, backed by our global dealer
network, provide exceptional value that helps customers succeed.
Caterpillar 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. Visit us at caterpillar.com or join the conversation
on our social media channels.
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press release relate to future events and expectations and are
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are made, and we do not undertake to update our forward-looking
statements.
Caterpillar's actual results may differ materially from those
described or implied in our forward-looking statements based on a
number of factors, including, but not limited to: (i) global and
regional economic conditions and economic conditions in the
industries we serve; (ii) commodity price changes, material price
increases, fluctuations in demand for our products or significant
shortages of material; (iii) government monetary or fiscal
policies; (iv) political and economic risks, commercial instability
and events beyond our control in the countries in which we operate;
(v) international trade policies and their impact on demand for our
products and our competitive position, including the imposition of
new tariffs or changes in existing tariff rates; (vi) our ability
to develop, produce and market quality products that meet our
customers' needs; (vii) the impact of the highly competitive
environment in which we operate on our sales and pricing; (viii)
information technology security threats and computer crime; (ix)
inventory management decisions and sourcing practices of our
dealers and our OEM customers; (x) a failure to realize, or a delay
in realizing, all of the anticipated benefits of our acquisitions,
joint ventures or divestitures; (xi) union disputes or other
employee relations issues; (xii) adverse effects of unexpected
events; (xiii) disruptions or volatility in global financial
markets limiting our sources of liquidity or the liquidity of our
customers, dealers and suppliers; (xiv) failure to maintain our
credit ratings and potential resulting increases to our cost of
borrowing and adverse effects on our cost of funds, liquidity,
competitive position and access to capital markets; (xv) our
Financial Products segment's risks associated with the financial
services industry; (xvi) changes in interest rates or market
liquidity conditions; (xvii) an increase in delinquencies,
repossessions or net losses of Cat Financial's customers; (xviii)
currency fluctuations; (xix) our or Cat Financial's compliance with
financial and other restrictive covenants in debt agreements; (xx)
increased pension plan funding obligations; (xxi) alleged or actual
violations of trade or anti-corruption laws and regulations; (xxii)
additional tax expense or exposure, including the impact of U.S.
tax reform; (xxiii) significant legal proceedings, claims, lawsuits
or government investigations; (xxiv) new regulations or changes in
financial services regulations; (xxv) compliance with environmental
laws and regulations; (xxvi) the duration and geographic spread of,
business disruptions caused by, and the overall global economic
impact of, the COVID-19 pandemic; and (xxvii) other factors
described in more detail in Caterpillar's Forms 10-Q, 10-K and
other filings with the Securities and Exchange Commission.
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SOURCE Caterpillar Inc.