Caterpillar to Invest in LIB Producer

Caterpillar, Irving, Texas, has announced that it is investing in Lithos Energy Inc., a U.S.-based battery technology company that produces lithium-ion battery packs.

Caterpillar says its investment in San Rafael, California-based Lithos further demonstrates its commitment to support customers in the energy transition with lower-carbon advanced power technologies for its hybrid and full-electric machines and power generation products.

Recently, the company displayed four electric construction machine prototypes, including battery prototypes, at Bauma 2022 in Munich, Germany, and successfully demonstrated its first battery electric 793 large mining truck at its Tucson Proving Ground in Arizona.

“Caterpillar’s collaboration with Lithos supports our commitment to delivering robust electrified products and solutions for our customers,” says Joe Creed, group president of Caterpillar’s energy and transportation segment. “Cat equipment, regardless of its power source, is designed to operate in the most demanding conditions. Lithos’ experience manufacturing battery packs for similarly demanding environments will be an asset as we continue our electrified product development.”

Lithos says it specializes in designing, engineering and manufacturing shock resistant and high-performance battery solutions for applications including offroad and marine.

“We are extremely excited to be working with Caterpillar, especially at a time when the leading construction machinery and equipment manufacturer is entering a new age of efficiency and reduced emission operation,” Lithos CEO James Meredith says. “Caterpillar’s forward-thinking commitment to electrification and leadership position on the global stage for equipment manufacturers make this an ideal match. This funding will enable Lithos to accelerate technology development and scale up manufacturing capacity as we look forward to providing increasingly advanced product offerings to our new and existing customers.”