June 10, 2015
Caterpillar Chairman and CEO Doug Oberhelman delivered remarks on how the company approaches innovation at the annual stockholders meeting. Here are 13 innovations Oberhelman highlighted during his speech.
1. Through Cat® Connect and Cat Minestar™, hundreds of sensors on machines and engines send terabytes of data to state of the art monitoring facilities at Caterpillar and Cat dealers.
2. Cat off-road mining trucks are operating autonomously 24 hours a day, seven days a week – using sensors, radar, LiDAR and satellite communications.
3. A recent investment in Uptake to develop the next generation of predictive data analytics.
4. EMD locomotives’ updated IntelliTrain™ application is shifting from time-based to condition-based maintenance, which will improve availability and help avoid catastrophic failures.
5. For turbomachinery in oil and gas, Solar Turbines’ InSight System™ reduces unplanned shutdowns through on-line analysis of detailed data.
6. For marine, through the acquisition of ESRG Technologies Group, Caterpillar now offers a software suite that remotely monitors more than 65 on-board systems in marine vessels, which increases efficiency and reduces vessel downtime.
7. For gas compression, through the acquisition of PEPR Inc., Caterpillar now offers a proprietary natural gas compressor optimization and emissions reporting software that creates a competitive advantage in the field.
8. A new alliance with First Solar will develop integrated photovoltaic solutions for the microgrid market. Cat solar panels, Cat gen-sets and energy storage will help bring power and light to remote communities in Africa, Latin America and the Asia Pacific – just for starters.
9. A recent investment in Fluidic Energy to develop advanced energy storage and offer rechargeable, backup power for cell phone towers around the world.
10. The strategic financing of Yard Club, a San Francisco start-up company that built a peer-to-peer equipment rental platform.
11. The formation of Caterpillar Venture Capital to invest in start-up companies with innovative technologies or business models that will add value to Caterpillar’s customers operations.
12. Caterpillar’s Assurance of Supply Center, one of the most comprehensive visibility tools in the world. It simplifies the supply network – a network that involves thousands of suppliers shipping more than a million parts and components every year. Now, Caterpillar can see orders from production to delivery – by facility, business unit and cost.
13. A Wamego, Kansas team leader used their 3D printer to design and print a machine guard that eliminated a pinch point hazard in the manufacturing environment. The fixture is so innovative it can be patented.