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MOU Between Caterpillar and Damen Shipyards Groups Enables Development of Decarbonization Solutions
Damen Shipyards Group and Caterpillar Sign MOU to Develop Methanol-Powered Vessels
November 2022
Houston, Texas – Caterpillar and Damen Shipyards Group, an international naval shipbuilding company, have entered an agreement to develop methanol powered vessels that enable the decarbonization of marine operations. With the production of over 150 vessels annually, Damen Shipyards Group continues to offer customers onsite and remote services, expertise, and now an opportunity to support their climate related goals. Under the agreement, Damen Shipyards will collaborate with a team of experts from Caterpillar and Cat® Dealer, Pon Power.
“Our collaboration with Damen Shipyards Group and Pon Power brings together immeasurable expertise that allows us to learn together and innovate to address the great challenge of the energy transition. This is an exciting technical challenge to tackle, but most importantly it fosters our industry's goal to reach sustainable, low carbon operations that contribute to a climate that can sustain us, our children, and the next generations to come,” commented Derrick York, Sr Vice President Caterpillar Oil & Gas and Marine Division.
Following this year’s Global Value Agreement (GVA) announcement between Caterpillar and Damen Shipyards Group, this new agreement supports the company’s strategy of maritime sustainability, innovation, and the efficient operation of vessels.
Caterpillar recognizes customers’ needs to operate reliable solutions that minimize current and long-term environmental impacts. “Our products power many of the tugs working around the world. We're committed to helping our customers achieve their climate-related goals by developing expanded offerings across renewable fuels like biofuels and methanol, as well as solutions that drive efficiency in the use and conversion of energy such as integrated hybrid power trains. Our collaboration with Damen and Pon Power will enable us to better understand the opportunities and challenges of decarbonizing maritime operations via methanol,” said Andres Perez, Global Tug Segment Manager, Caterpillar Marine.
About Caterpillar Marine:
Caterpillar Marine, with headquarters in Houston, Texas, offers premium power solutions for a wide range of marine applications. With decades of experience designing engines and aftertreatment solutions, Caterpillar Marine products set the standard for quality, performance, and reliability. Caterpillar is dedicated to being your service provider on the water to provide engine and operational success. With Customer Value Agreements (CVAs), customers can take advantage of an extensive array of service options that can be tailored to their specific needs. Combined with our digital solutions, a CVA can provide valuable insights to engine health and performance. The global sales and service network is ready to support customers in tug, offshore, inland waterways, fishing, governmental, dredge, ferry, and yachting wherever they are.
More information is available at: www.cat.com/marine
About Caterpillar
With 2021 sales and revenues of $51.0 billion, Caterpillar Inc. is the world’s leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For nearly 100 years, we’ve been helping customers build a better, more sustainable world and are committed and contributing to a reduced-carbon future. Our innovative products and services, backed by our global dealer network, provide exceptional value that helps customers succeed. Caterpillar does business on every continent, principally operating through three primary segments – Construction Industries, Resource Industries and Energy & Transportation – and providing financing and related services through our Financial Products segment. Visit us at caterpillar.com or join the conversation on our social media channels.
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