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Lithos Motorsport 4 Pack Stack Render 1

Caterpillar Announces Investment in Lithos Energy to Further Battery Pack Development and Manufacturing

Jan. 9, 2023
Deal will help to accelerate the development of Caterpillar’s electrified product portfolio.

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

“Caterpillar’s collaboration with Lithos supports our commitment to delivering robust electrified products and solutions for our customers,” said Joe Creed, group president of Caterpillar’s Energy & 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.” 

Headquartered in San Rafael, Calif., Lithos specializes in designing, engineering and manufacturing shock resistant and high-performance battery solutions for applications including off-road 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,” said James Meredith, CEO of Lithos Energy. “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.”

Caterpillar’s investment in Lithos further demonstrates Caterpillar’s 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. The company recently displayed four electric construction machine prototypes, including battery prototypes, at bauma 2022 in Munich, Germany, and demonstrated its first battery electric 793 large mining truck at its Tucson Proving Ground in Arizona.

Lithos Energy is an engineering firm that designs, builds and integrates lithium-ion battery systems. Founded by two MIT engineers who had previously worked for some of the biggest electric vehicle companies in the United States, Lithos Energy provides custom energy storage solutions to a range of markets.