The funding 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, according to Intramotev, which says its retrofitted solutions “create new possibilities for customers to increase their rail capacity, while saving money on fuel and lowering their carbon footprint.”
“This funding positions us to continue deploying our technology to customers across the U.S. and abroad to unlock a new era of growth for the rail industry,” said Intramotev CEO Tim Luchini. “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.”
“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. Five-thousand 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, the company noted. 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.
