CAT

By Will Feuer

Caterpillar Inc. said it is taking a stake in battery-technology firm Lithos Energy Inc. as the construction-equipment maker eyes a future of hybrid and fully electric machines.

Lithos Energy, which is based in San Rafael, Calif., specializes in designing, engineering and manufacturing shock-resistant and high-performance lithium-ion batteries and battery packs for applications such as off-road and marine, Caterpillar said.

"Cat equipment -- regardless of its power source -- is designed to operate in the most demanding conditions," said Joe Creed, president of Caterpillar's Energy & Transportation segment. "Lithos' experience manufacturing battery packs for similarly demanding environments will be an asset as we continue our electrified product development."

The companies didn't disclose the financial terms of the deal.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

January 06, 2023 08:34 ET (13:34 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.