REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsDec 4 (Reuters) - Caterpillar (CAT.N) is investing in recycling technology developer Nth Cycle as part of a push to boost the reuse of metals used to make batteries and construction equipment.
"The beauty of our system is that it's truly modular," Megan O'Connor, Nth Cycle's co-founder and CEO, said in an interview.
Texas-based Caterpillar, which makes heavy machinery emblazoned with its iconic yellow paint, said Nth's Cycle's technology can "help get valuable materials" back into circulation.
"Caterpillar's collaboration with Nth Cycle supports our commitment to helping our customers achieve their climate-related objectives and establishing a circular value chain," said Rod Shurman, Caterpillar's senior vice president of electrification and energy solutions, in a statement released by Nth Cycle.
Equinor had invested in Nth Cycle's last funding round, announced in 2022.
Persons:
Brendan McDermid, Megan O'Connor, Nth's, Rod Shurman, Caterpillar's, Equinor, Ernest Scheyder, Kirsten Donovan
Organizations:
Caterpillar, REUTERS, Earth Ventures, Thomson
Locations:
Harbor, Brooklyn , New York, U.S, Massachusetts, Ohio, Texas