Forbes by Alan Ohnsman 1/19/2022
SpaceX Veterans Aim To Shake Up Freight Rail With Electric, Robotic Trains
Mile-long, slow-moving diesel trains loaded with cargo chugging slowly across the U.S. could be a thing of the past one day if stealth startup Parallel Systems has its way. The Los Angeles company thinks the future of freight lies in autonomous battery-powered trains that squeeze far more capacity out of existing rail lines.
Founded by a trio of former SpaceX engineers, including CEO Matt Soule, Parallel’s idea for smaller, flexible zero-emission trains pulling no more than 50 cars and operating with greater frequency than traditional behemoths that haul over 150 boxcars at a time caught the attention of tech-oriented venture firms, including Anthos Capital, Congruent Ventures, Riot Ventures and Embark Ventures. With their backing and from other investors, Parallel just raised $49.6 million to refine prototypes and software for its futuristic trains and, eventually, shift more freight hauling from trucks.
“Rail is so much more energy efficient (than trucks). Even though today freight rail is diesel locomotives, it’s already a decarbonization win to convert to rail,” Soule tells Forbes. “What we’re specifically focused on is trying to open the markets that rail can address, but then further improving the CO2 footprint by making it electric, too.”
More:
https://www.forbes.com/sites/alanohnsman/2022/01/19/spacex-veterans-aim-to-shake-up-freight-rail-with-electric-robotic-trains/?sh=72e1c3ec143e
