The company is preparing to scale multiple new
deployments globally.
ST.
LOUIS, Aug. 15, 2024 /PRNewswire/ -- Intramotev,
the technology company building battery-electric railcar retrofits,
announced today it has closed a $14.4
million oversubscribed Series A funding round. The round is
led by Flybridge Capital Partners and Alpaca VC, and joined by
other investors including Advantage Capital, Aera VC, Band VC,
Cantos, Cathcart Rail, Collide
Capital, Decisive Point, and Idealab Arizona.
"This funding positions us to continue deploying our technology
to customers across the US and abroad to unlock a new era of growth
for the rail industry," said Tim
Luchini, Intramotev's CEO. "We've heard from customers
again and again that they want freight solutions that don't
compromise on efficiency, speed, or flexibility. TugVolt and ReVolt
deliver just that."
Intramotev's retrofitted solutions create new possibilities for
customers to increase their rail capacity, while saving money on
fuel and lowering their carbon footprint.
"A lot of suppliers promise to make your job easier, but
Intramotev actually delivers," said Jon
Brown, VP of Business Development and Capital at Iron
Senergy. "Intramotev's team worked relentlessly to ensure the
proper implementation of their technology at our mine, and we
couldn't be more pleased with the results. 5,000 miles into our
experience with their ReVolt train, we're thrilled to continue
working with Intramotev to accelerate innovation in mining."
Intramotev is the world's only self-propelled railcar supplier
with units in active revenue service. Currently deployed at Iron
Senergy's Cumberland Mine, Intramotev will launch an additional
deployment at a calcium mine owned by Carmeuse Americas later this
year.
About Intramotev
Intramotev is a high-technology company focused on transforming
modern freight movement by developing battery-electric,
self-propelled rail solutions that decrease costs, increase usage
and safety, and promote environmental responsibility. Learn more at
Intramotev.com.
Press Contact
Don Soffer,
Don@Intramotev.com
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SOURCE Intramotev