Finning International, the world’s largest Caterpillar dealer, has reported third quarter 2021 results, and also unveiled its plans to introduce low-emission fuels in its fleet next year. In September, the company announced they acquired a 54.5% controlling ownership interest in Compression Technology Corporation (ComTech) through its subsidiary, 4Refuel. ComTech is an early-stage developer of alternative energy infrastructure and provider of proprietary mobile fueling solutions for low-carbon fuels, including CNG, biomethane, and hydrogen, in North America.
“As part of our growth strategy, we are expanding our 4Refuel capabilities to support our customers in their transition to low-carbon fuels, including CNG, renewable natural gas, and hydrogen. Natural gas, hydrogen, and electrification are becoming an increasingly important aspect of our business as our customers are progressing towards their long-term goals of achieving net zero greenhouse gas emissions. With Caterpillar accelerating the development of battery-powered mining equipment as well as natural gas blending and fully hydrogen-capable power solutions, we are excited about future opportunities to help our customers meet their goals and utilize sustainable energy sources. In 2022, we will start using natural gas to power a portion of 4Refuel and Finning service vehicle fleets, which will help us achieve our own greenhouse gas emission reduction target set out in our Sustainability Report,” said Scott Thomson, president and CEO of Finning International.
ComTech provides 4Refuel with the capability to be a leading provider of turn-key, low-carbon energy solutions. It expands fueling capabilities beyond diesel and allows to support customers’ energy transition journey, starting with solutions for CNG and biomethane. The investment in ComTech leverages 4Refuel’s leading mobile on-site refueling platform to enable customers to reduce their emissions and improve productivity.
Source: Finning International