Investment aimed at Fisker Inc.’s future solid-state battery technology with applications in construction, energy storage, transportation and mining industries
LOS ANGELES (October 22, 2018) - Fisker Inc., an e-mobility and technology company developing electric vehicles and proprietary solid-state battery technologies, has announced today a strategic investment from Caterpillar Venture Capital Inc., a wholly owned subsidiary of Caterpillar Inc., the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.
Fisker Inc.'s solid-state batteries present the next generation post lithium-ion era of future battery technologies, that offer bulk electrodes with high energy densities, enhanced safety, faster charge times and lower costs.
Caterpillar Ventures' investment in Fisker illustrates a mutually recognized importance that electrification solutions will represent to multiple business segments in the future. While Caterpillar and Fisker serve fundamentally different industries, advancements in electrification technologies pose increasing importance and offer the potential to positively impact customer value for the right products.
About Fisker Inc.
California-based Fisker Inc. is revolutionizing the automotive industry by developing the most emotionally desirable electric vehicles complemented with the longest range and shortest charging times on earth. As a leading force in influencing mass market electrification across the globe, the company's scientific breakthroughs include the patent-pending Fisker Flexible Solid-State Battery - ushering in a new era in fast charging, safety, range and costs of less than $100 per kWh.
The brainchild of EV pioneer and world-leading automotive designer, Henrik Fisker, Fisker Inc.'s mission is to set a new standard of excellence and performance in the electric vehicle industry and mobility services - developing unique, high-performance electric vehicles that feature the latest in autonomous driving technology and exciting user experiences. To learn more, visit, www.FiskerInc.com.
About Caterpillar Ventures
Caterpillar Venture Capital Inc. (Caterpillar Ventures) assists entrepreneurs around the world to grow and scale their businesses to build today for a better tomorrow by leveraging Caterpillar's industry expertise, supply base and independent dealer network. Caterpillar Ventures' focus areas of investment include robotics, energy, advanced materials, and digital solutions that help our customers be successful. Caterpillar Ventures is a wholly owned subsidiary of Caterpillar Inc., the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-¬electric locomotives. For more information, visit caterpillar.com/ventures.