Benzinga | Apr 26, 2021 02:00PM EDT

Caterpillar Reports Memorandum Of Understanding With Certarus To Explore Lower Carbon Energy Solutions

Caterpillar Inc. (NYSE:CAT) and Certarus Ltd. (Calgary, Alberta) announced today that they have entered a Memorandum of Understanding to explore opportunities to leverage each parties' strengths to bring lower carbon energy solutions to their combined customer base.

The MOU outlines key areas where the two companies will work together to advance the use of lower carbon fuels including conventional and renewable natural gas and hydrogen.

"Certarus is excited to work with Caterpillar on the transition to a lower carbon future," said Curtis Philippon, CEO of Certarus. "Together we will develop the tools to enable commercial customers to reduce their carbon intensity and achieve environmental and economic benefits. Through our collaboration we are quickly becoming leaders in the integration of hydrogen as a clean energy solution."

"Working with Certarus to develop future lower carbon solutions for the industries we serve is a natural extension of our relationship," said Joe Creed, Group President, Energy & Transportation. "We believe our teamwork will combine valuable expertise from our companies to deliver comprehensive customer solutions for the energy transition."