At IANA, the CEO of Parallel, the autonomous rail startup, describes the landscape he sees for the company’s product.
The company, which seeks to create autonomous battery-electric rail vehicles, will use the funding to support a 29-month advanced testing program of its technology.
“We’re not looking to replace trains. We’re looking to augment trains with a system that is trying to be competitive as an alternative to trucks,” said Matt Soule, co-founder and CEO at Parallel Systems.
“We founded Parallel to allow railroads to open new markets, increase infrastructure utilization and improve service to accelerate freight decarbonization,” said Matt Soule, co-founder and CEO at Parallel Systems.
