Chevron and Caterpillar announced a hydrogen energy cooperation agreement and showcased their hydrogen-powered locomotives for the first time.

SAN RAMON, Calif. / DEERFIELD, Ill., Sept. 8, 2021 - Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE: CVX), and Caterpillar Inc. (NYSE: CAT) today announced a collaboration agreement to develop demonstration projects for hydrogen in transportation and stationary power applications, including fuel cells.

The objective of this collaboration between the two sides is to confirm the feasibility of hydrogen as a commercial alternative to traditional fuels for railways and ships. This cooperation aims to demonstrate the use of hydrogen in prime power. The subsequent cooperation will be continuously promoted by Caterpillar's Progress Rail, and both sides have also agreed to showcase hydrogen-fueled locomotives and related hydrogen fuel infrastructure.

Chevron is seeking opportunities to create demand for hydrogen and the technologies needed to use it in heavy transportation and industrial sectors, where carbon emissions are more difficult to reduce, said Jeff Gustavson, president of Chevron New Energy. "Our collaboration with Caterpillar is an important step in advancing the commercial viability of hydrogen energy," he added. 
"Partnering with Chevron to provide the fuel type our equipment needs is a great opportunity to prove hydrogen as a fuel for our customers," said Joe Creed, president of Caterpillar Energy and Transportation. "This agreement supports our commitment to invest in new products, technologies and services to help our customers achieve their climate-related goals while building a better, more sustainable world." 
About Chevron 
Chevron is one of the world's leading integrated energy companies. Our business spans the entire energy industry, including: extracting, producing and transporting crude oil and natural gas; refining, marketing and selling fuel and lubricants; producing and selling petrochemical products; generating electricity and producing geothermal energy; providing renewable energy and energy efficiency solutions; and developing future energy resources, including advanced bioenergy research. We have approximately 61,000 highly skilled employees worldwide, including over 3,300 service station staff. In 2015, Chevron's average daily net production was 2.62 million barrels of oil equivalent, with 73% of the production coming from more than 20 different countries outside the United States. Our market network supports retail outlets across six continents. Please visit www.chevron.com. 
About Caterpillar 
In 2020, Caterpillar Inc. had sales and revenue of $41.7 billion. It is a world-leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Since 1925, we have been promoting sustainable development and helping customers build a better world through innovative products and services. Throughout the product life cycle, we offer services based on cutting-edge technology and decades of product expertise. Backed by our global dealer network, these products and services provide outstanding value to help our customers succeed. We operate on all continents, mainly through three major divisions - Construction Industries, Resource Industries, and Energy & Transportation - and provide financing and related services through our Financial Products division.