RAILSPIRE SIGNS CUSTOMER AGREEMENTS WITH TWO HOLDING COMPANIES Government for Saskatchewan

TEXAS-BASED Railspire, a company that retrofits locomotives for autonomous driving, today announced it has signed customer agreements with two shortline holding companies, including one of the largest in the US.

Both companies will integrate Railspire’s technology for a variety of operational and organizational benefits, including increasing productivity, improving safety and employee retention, and reducing asset damage and costs. One customer chose Dallas as its initial deployment location, due to its central location and ease of air travel, to enable efficient demonstrations of the technology to team members across its entire enterprise.

“As issues such as rail safety, a protracted labour shortage, and the need for cost control increase in prominence, the industry needs innovative approaches like Railspire’s,” said said Lester Hightower, co-founder and board chairman of Railspire.. “It is an exciting time to be offering game-changing innovations to such a storied and vital industry.”

These engagements represent Railspire’s third and fourth customer agreements. The company secured its first and second customers in November and December of 2022.

SHORT line railway companies are on track to receive grants from the Government of Saskatchewan through its Short Line Railway Improvement Program (SRIP).

The $530,000 in funding will assist with track up grades and expansion, improved crossing surfaces and sightlines, bridge maintenance, track rehabilitations and more.

"The short line rail industry plays a pivotal role in bolstering our economy by efficiently transporting agricultural goods and a multitude of other products across our growing province," Highways Minister Jeremy Cockrill said. "Our commitment to this program ensures ongoing provision of grants to short lines, empowering them to enhance their tracks through upgrades and expansion projects."

Grants are determined based on how much track each short line owns. Small networks with less than 80 kilometres of track receive at least $25,000. The larger networks receive a proportional amount based on how much track they operate.

Funding allocations for 2023-24: n Thunder Rail $25,000 n Torch River Rail $25,000 n Northern Lights Rail $25,000 n Southern Rails Cooperative $25,000 n Long Creek Railroad $25,000 n Wheatland Rail $25,000 n Red Coat Road & Rail $25,000 n Stewart Southern Railway $28,297 n Last Mountain Railway $29,155 n Carlton Trail Railway $37,515 n Great Sandhills Railway $43,089