Catherine Clifford writes in CNBC on Parallel Systems, a startup that is looking to modernize America’s freight system by creating fully electric self-powered train cars.
- Trains produce fewer greenhouse gas emissions and are more energy efficient than trucks, but face operational and economic limits to further deployment.
- Parallel Systems’ vehicle prototype would work in pairs, with each pair carrying a standard size shipping container. This design would create shorter locomotives which would lessen loading times in terminals.
- The innovation of the free market is creating new and exciting clean technologies.
“The company is just in the prototype stage and has no customers or revenue yet. With the new round of funding, Parallel Systems, which was running on $3.6 million in seed funding, will build a fleet of rail vehicles, execute advanced testing programs, and grow the team.”
Read the full article here.