Fisker has unveiled an investment from Caterpillar Venture Capital, a wholly-owned subsidiary of Caterpillar, the manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.

Fisker’s solid-state batteries present the next generation post lithium-ion era of future battery technologies, which offer bulk electrodes with high energy densities, enhanced safety, faster charge times and lower costs.

“Caterpillar Ventures’ investment in Fisker illustrates a mutually recognised importance that electrification solutions will represent to multiple business segments in the future,” said a Fisker statement.

“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.”

Fisker’s breakthroughs include the patent-pending Fisker Flexible Solid-State Battery.

Caterpillar Venture Capital Inc. (Caterpillar Ventures) assists entrepreneurs around the world to grow and scale their businesses by leveraging Caterpillar’s industry expertise, supply base and independent dealer network.

Caterpillar Ventures’ focus areas of investment include robotics, energy materials and digital solutions.