Heavy Equipment Guide Logo

This ad will close in 15 seconds

Caterpillar Invests in Peer-to-Peer Equipment Rental Startup Company, Yard Club

Company info

100 North East Adams Street
Peoria, IL
US, 61629

Website:
cat.com

Read more

To help customers maximize the use and productivity of their owned equipment, Caterpillar Inc. is entering an agreement with Yard Club, a startup company that has developed an online peer-to-peer equipment rental platform. Caterpillar has provided strategic financing to Yard Club, based in San Francisco, Calif., and will launch the online ordering platform in specific metropolitan markets in conjunction with U.S. and Canadian Caterpillar dealers. The peer-to-peer rental platform will include both Cat products and non-Cat branded products.

“Peer-to-peer technology has changed other industries like transportation and lodging, and Yard Club has developed an innovative solution initially for the construction equipment industry,” said Phil Kelliher, Caterpillar’s vice president with responsibility for Americas Distribution Services Division. “Using this platform, a contractor can rent an excavator that’s in between jobs to another contractor who needs that machine. The Cat dealer will use this tool as another avenue to strengthen customer relationships by increasing the utilization rates of heavy equipment and lowering the total cost of equipment ownership.”

Since its founding in 2013, Yard Club has focused on construction contractors in the San Francisco area. With Caterpillar’s investment, Yard Club will further develop the platform and expand club member coverage.

“The sharing economy is changing the way entire industries operate,” said Colin Evran, Founder and CEO of Yard Club. “Our platform is at the forefront of that innovation in the equipment rental industry. Customers can access rental equipment with ease on the web and through mobile devices, while enabling fleet owners to earn income on idle equipment through peer-to-peer rentals. Caterpillar has certainly reinforced its commitment to helping its customers succeed with this relationship.”

Yard club is the latest example of the emerging technologies that Caterpillar is actively embracing as part of its efforts to continue capitalizing on innovation to support customers.

“This illustrates what our newly formed Analytics & Innovation Division is charged with: creating and investing in emerging technologies that can further enhance Caterpillar’s product and service development and our customers' experience,” said Greg Folley, Caterpillar vice president with responsibility for the Analytics & Innovation Division. “With all of the advances in peer-to-peer technology going on around us, we asked ourselves, why shouldn't our customers have the ability to share assets to increase efficiency and lower the cost of ownership? Our agreement with Yard Club will help make this a reality. It's a great example of an innovation that can help our customers be more successful.”

Yard Club expects to have dealer and customer fleets installed on the platform and ready for rental midyear 2015.

More from Industry News

Snorkel remembers Arthur Deshon Moore, 1924 – 2019

It grieves us deeply to announce the passing of Art Moore, the founder of Snorkel, a current Snorkel board member, and a pioneer in the access industry, on June 19, 2019. We have been incredibly fortunate to have been graced with Art's innovative vision, insightful wisdom, whimsical humour and cheerful personality for 94 years. 

Volvo Group partners with NVIDIA on advanced AI for autonomous trucks

The Volvo Group has signed an agreement with NVIDIA to jointly develop the decision making system of autonomous commercial vehicles and machines. Utilizing NVIDIA's end-to-end artificial intelligence platform for training, simulation and in-vehicle computing, the resulting system is designed to safely handle fully autonomous driving on public roads and highways.  

LBX opens Customer Experience Center in Lexington, Kentucky

LBX held a Grand Opening for its new Customer Experience Center on June 13. The new facility is located on 25 acres in the Citation Business Park on Remington Way in Lexington, Kentucky. Company officials have said the operation will accommodate customer experience programs, including dealer training, product demonstrations and community events. The location is the company's second in Lexington, joining its headquarters and distribution centre.

GOMACO adds new distributors in Nebraska and Georgia

GOMACO Corporation has appointed Jinco, LLC, as the authorized GOMACO distributor for the state of Nebraska. They will provide sales and service for GOMACO's full line of concrete construction products. The appointment was made by Kent Godbersen, vice president of Worldwide Sales and Marketing, GOMACO Corporation. Bryan Beck is GOMACO's district manager for Nebraska.

free-paper-airplane

Get our newsletter

Learn more

Sourcewell awards Caterpillar the highest score in new heavy equipment contract

Sourcewell (formerly known as NJPA), one of North America's largest governmental cooperative contract holders, recently awarded a competitively solicited contract to Caterpillar. As part of the process, responses from equipment companies were evaluated against multiple criteria to help governmental agencies determine the best value when making purchase decisions. Caterpillar's response – which included considerations such as pricing, customer service, warranties and others – was scored the highest among 14 equipment manufacturers who submitted responses.

Hyundai earns Sourcewell Compact Equipment contract for U.S. and Canada

Hyundai Construction Equipment Americas has just been awarded a contract for procurement of medium-duty and compact construction equipment and accessories by Sourcewell, a national cooperative representing more than 50,000 U.S. and Canadian government, education and nonprofit organizations. This award comes on the heels of Hyundai receiving the contract for heavy construction equipment.

Husqvarna seeking students to spend summer chilling with Automower in Ontario park

Husqvarna is running a Smartest Summer Job campaign. To showcase how easy it is to get a perfectly mowed lawn with Husqvarna's Automower robotic lawn mower, Husqvarna will select two summer students to serve as Managers of Chilling, a role in which they sit in a Muskoka chair at Trillium Park at Ontario Place and watch the robotic mower do all the work. As brand representatives, they will engage with passersby and on social media to share the key benefits of Automower, such as a better lawn and more free time.

Case partners with singer Jon Pardi for construction industry career promotion

Case Construction Equipment is partnering with country music superstar Jon Pardi on a series of promotions throughout 2019 and 2020 focused on raising awareness for, and growing interest in, careers in the construction industry. The first promotion includes an exclusive presale opportunity for Pardi's headlining Heartache Medication Tour, kicking off October 1 in Nashville. Timed to his headlining tour, the CMA and ACM Award winning artist also recently announced the launch of his highly anticipated next album and title-track, "Heartache Medication," which is the follow up to his #1 Platinum-selling breakthrough album "California Sunrise."

free-magazine-subscription

Get Our Magazine

Paper or Digital delivered monthly to you

Subscribe or Renew Learn more

Inventys partners with Total and Lafarge to bring carbon capture program to British Columbia

Inventys has  announced a project partnership to develop and demonstrate the first full-cycle solution to capture and reuse CO₂ from a cement plant while also reducing greenhouse gas emissions. Project CO₂MENT will demonstrate and evaluate Inventys' CO₂ Capture System and a selection of CO₂ utilization technologies at Lafarge's Richmond, BC, cement plant over the next four years. This project is led by Inventys in partnership with Lafarge Canada Inc., a member of the global building materials group, LafargeHolcim, and Total, a major energy company. It also received financial support from CCP (CO₂ Capture Project), the Province of B.C., and Canada's federal government through the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP). 

Lafarge's Richmond facility aims to be most carbon efficient cement plant in Canada

Lafarge Canada Inc.'s Richmond Cement Plant has launched a new and improved lower carbon fuel (LCF) system to reduce greenhouse gas emissions associated with the production of cement. The initiative aims to make the facility the most carbon efficient cement plant in Canada. It will also help minimize landfill waste; specifically, non-recyclable plastics that are creating a backlog for municipalities across Canada.

free-paper-airplane

Get our newsletter

Learn more

Mike Rowe partners with National Excavator Initiative to increase awareness of buried utilities

The importance of the pipes, wires and cables buried underground that support our daily lives is being "unearthed" with the help of Executive Producer, Host, and Author Mike Rowe and his animated alter ego micro Mike Rowe. Known from the hit TV series Dirty Jobs, Deadliest Catch, and his groundbreaking Facebook show Returning the Favor, Rowe is also CEO of the mikeroweWORKS Foundation, a nonprofit organization that calls attention to America's skilled trade workforce and strives to close the skills gap.

Brokk Inc. adds new service and training centre and fleet managers

Brokk has opened the doors to its new Demonstration and Service Center in St. Joseph, Missouri, expanding its North American coverage and bringing the number of Brokk locations to three. Randy Glidewell and Mike Brott join the Brokk team at the new facility. Glidewell takes on the leadership position as Brokk fleet service manager, with Brott in the role as service technician.

Caterpillar industrial designers blend art and engineering to imagine the future of construction equipment

In the northeast corner of Caterpillar's "AC" facility in a secured location, there is a dedicated work area unlike any other at the company. The ceilings and windows are high, sunlight fills the open space, smoky glass walls surround conference rooms, and large tables promote a collaborative environment. There are unique product sketches hanging on the walls and laying on desks and tables. Cat models – old and new – are on display; as are trophies, plaques and other awards recognizing the inspiring work that is completed here.

free-magazine-subscription

Get Our Magazine

Paper or Digital delivered monthly to you

Subscribe or Renew Learn more