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Union Pacific to buy 10 battery locomotives from Caterpillar -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: The Caterpillar logo can be seen at the Bauuma Trade Fair in Munich, Germany, on April 8th 2019. REUTERS/Michaela Rehle/File Pho

By Bianca Flowers

(Reuters) – Union Pacific Corp (NYSE: ) will purchase 10 batteries locomotives Caterpillar Inc (NYSE:), Caterpillar CFO Andrew Bonfield stated in an interview Friday.

Customers of world-famous construction and mining companies are trying to lower their carbon emissions and reduce their dependence on diesel and gasoline for transportation. Although the amount of the deal is not yet known, it was immediately available.

Union Pacific is moving away from diesel fuel in order to comply with stricter U.S. emission standards.

Bonfield spoke out to discuss Caterpillar earnings, saying that “we have other transactions around the transportation space about locomotives.”

All of these (sustainability-related) efforts help other areas of the business.

Jim Umpleby, Caterpillar CEO, stated during an earnings call that Union Pacific is the fourth client for Caterpillar’s rail-battery electric locomotive technology.

Teck Resources Ltd, a Canadian mining firm, announced Wednesday it had deployed 30 Caterpillar zero-emissions heavy haul trucks in its effort to carbon-neutralize by 2050.

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