The U.S. and Canadian governments plan to work together to reduce the railway sector’s greenhouse gas emissions via a task force that will explore accelerating the use of zero-emissions locomotive technologies, leaders from both countries announced at the COP28 United Nations climate change conference in Dubai.
The Rail Decarbonization Task Force will have three goals, according to a Wednesday joint statement from U.S. Energy Secretary Jennifer M. Granholm, U.S. Transportation Secretary Pete...
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Researchers in California are exploring the possibility of using the battery systems in battery-electric locomotives to store power for the U.S. power grid, according to a paper published in the academic journal Nature Energy.
Researchers at the University of California at Berkeley and the Lawrence Berkeley National Laboratory said they explored using batteries as a way to store energy to help address the challenges associated with maintaining reliability amid extreme weather events and...
Rail technology provider Wabtec saw fourth-quarter 2021 net income grow 116% to $190 million, or $1.02 per diluted share, compared with $88 million, or 46 cents per diluted share, in the fourth quarter of 2020.
Adjusted earnings per diluted share was $1.18, which is 20.4% higher year-over-year.
A higher gross profit in the fourth quarter, due to higher sales as well as lower cost of sales, helped pull fourth-quarter net income higher. Gross profit rose 29% to $652 million, compared with $506...
https://www.freightwaves.com/news/wabtec-q4-net-income-climbs-on-higher-gross-profit
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Union Pacific plans to purchase 20 battery-electric locomotives, which the company says will result in the largest investment in battery-electric technology by a U.S. Class I railroad.
UP (NYSE: UNP) plans to spend more than $100 million to purchase the 20 locomotives and upgrade yard infrastructure. The railroad will test the locomotives in yard operations in California and Nebraska.
The railroad will acquire 10 locomotives from Wabtec (NYSE: WAB) and 10 from Progress Rail, a Caterpillar (NYSE:...
Mining company Rio Tinto will be purchasing four FLXdrive battery-electric locomotives from rail technology provider Wabtec (NYSE: WAB) as part of its wider efforts to reduce scope 1 and 2 carbon emissions by 50% by 2030.
The locomotives will support Rio Tinto’s mining operations in the Pilbara region of western Australia. By utilizing the locomotives, which Wabtec says have an energy capacity of 7 megawatt-hours, Rio Tinto expects to reduce its fuel costs and emissions by double digits...
https://www.freightwaves.com/news/rio-tinto-will-buy-4-battery-electric-locomotives-from-wabtec
Canadian railway CN is delving into two sustainability initiatives that seek to reduce greenhouse gas emissions from a locomotive’s power sources.
First, CN (NYSE: CNI) and Wabtec (NYSE: WAB) announced Thursday that CN has purchased Wabtec’s FLXdrive battery-electric locomotive. CN plans to partner with Wabtec to put into service the next-generation technology, which CN says can reduce fuel consumption and emissions by up to 30%.
The acquisition was awarded financial support via the marine and...
Wabtec has signed memorandums of understanding with Carnegie Mellon University and privately held short line operator Genesee & Wyoming to advance the technology of battery-electric locomotives.
The partnerships will serve as the groundwork for all three parties to create a Freight Rail Innovation Institute, which will aim to develop zero-emission locomotives as well as technology to increase freight rail utilization and improve safety. The parties hope the endeavor will result in the creation...
Wabtec (NYSE: WAB) and General Motors (NYSE: GM) are collaborating on bringing battery and fuel cell technology to the freight locomotive.
The two will seek to develop and commercialize GM’s Ultium battery technology and HYDROTEC hydrogen fuel cell systems for Wabtec locomotives. The collaboration consists of a nonbinding memorandum of understanding, in which Wabtec brings the expertise in energy management and systems optimization, while GM brings the advanced technology it has been developing...