Caterpillar buys EaaS company
05 May 2022
Tangent Energy provides proprietary DERMS software solutions
Caterpillar purchased Tangent Energy Solutions, an energy-as-a-service (EaaS) company that positions Caterpillar to work directly with utilities and energy providers to supply distributed energy resources (DERs).
US-based Tangent Energy provides proprietary Distributed Energy Resource Management System (DERMS) software solutions that monitor patterns from the grid and client facilities, analyze opportunities in energy markets, and then dispatch resources to maximize return and monetize results without disrupting normal business operations.
“Tangent Energy has developed an impressive suite of intelligent energy solutions that leverages advanced analytics to provide value to customers,” said Jason Kaiser, vice president of Caterpillar Electric Power. “Tangent’s EaaS offerings serve as perfect complements to Caterpillar’s broad portfolio of electric power products, enabling us to better serve customers for reliable, efficient, sustainable, and connected power solutions that support business operations while generating new revenue streams.”
Tangent Energy’s proprietary software solution is a DERMS platform that monitors, manages and monetizes on-site energy assets, including natural gas and renewable power generation, storage and microgrids. Managing over 6000 MW at nearly 6500 customer sites, Tangent Energy has proven to be especially beneficial to customers with high peak energy demands such as large commercial and industrial customers, data centers, mining operations, and energy utilities, Caterpillar said.
Tangent Energy Solutions will continue to offer services under the Tangent Energy brand and operate under Caterpillar’s Electric Power Division.
“Caterpillar is at the forefront of the industry in delivering robust and efficient power solutions supported by advanced digital offerings,” said Dean Musser, president and chief executive officer of Tangent Energy Solutions. “Customers select Cat power solutions for the long-term return on investment, and we look forward to working together to help deliver additional value through the compelling combination of our cutting-edge technologies with the customer relationships established by Caterpillar and the Cat dealer network.”
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