New investment to finance expansion of innovative system for containerized intermodal transport
RailRunner, N.A., Inc., the developer and operator of innovative intermodal systems that dramatically broaden the reach of the containerized rail network, announced it has received an investment of $5 million from US Boston Capital Corporation.
“This is an important vote of confidence in the potential of the RailRunner system,” said Charles Foskett, RailRunner’s CEO. “Our record of operating on the RailReach Jacksonville-Fort Wayne lane, which we began last August, has proven that the RailRunner system can deliver important benefits to shippers who are not effectively served by the current intermodal system, but who have rail access. This infusion of capital will allow us to begin bringing those benefits to a whole array of new markets.”
RailRunner’s patented railcar and container chassis system operates on both highway and rail, allowing a shipper to shift from road to rail and back without the need for expensive cranes to lift the container from one mode to another. Freight can be moved onto and off of the rails by a truck at a siding with minimal infrastructure changes, bringing lowcost rail intermodal container shipping to the short-haul rail market and, potentially, to hundreds of smaller cities and towns throughout the United States. RailRunner offers the service directly to shippers through RailReach, a complete container shipping service. In most markets, it plans to license its technology to other companies wishing to offer this service.