Intramotev raises $14.4m to retrofit a new era of growth for rail industry

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Intramotev, the technology company building battery-electric railcar retrofits, has announced that it has closed a $14.4m oversubscribed Series A funding round.

“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.”

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.