Rail supplier news from Teleweld, Rail Vision, Quantum and Railinc

Teleweld Inc., a rail-equipment manufacturer, hosted U.S. Rep. Darin LaHood (R-Ill.) on Sept. 23 at the company's Streator, Illinois, headquarters. The visit featured a tour of the manufacturing facility as well as a discussion with Teleweld employees. The discussion focused on the current economic environment in the rail industry and the state, Teleweld’s impact in the region and the broader industry, surface transportation reauthorization and other legislative and policy issues that affect rail contractors and suppliers. Among those attending the meeting with LaHood were Teleweld President Kevin Hawkes, Human Resources Manager Karen Downey, General Manager Kyle Porter and former Teleweld President Mike Supergan. They were joined by Streator Mayor Tara Bedei, City Manager Dave Plyman, City Engineer Jeremy Palm and Director of Community Development Dean Chalky, according to a press release. Teleweld is a member of the National Railroad Construction and Maintenance Association and the Railway Engineering-Maintenance Suppliers Association.

Rail Vision Ltd. has signed a term sheet to acquire 51% ownership of Quantum Transportation Ltd., a quantum computing and artificial intelligence (AI) company specializing in error correction technologies. Rail Vision and Quantum Transportation aim to combine quantum-AI based IP protected innovation with Rail Vision’s advanced vision and safety technologies. Under the terms and upon the closing, Rail Vision will issue ordinary shares representing 4.99% of its share capital to select Quantum shareholders in exchange for their full holdings in Quantum. Additionally, Rail Vision will extend a convertible loan of up to $700,000 to Quantum at an 8% annual interest rate, disbursed in tranches to support ongoing operations and development. The loan will be repaid within 24 months and may be converted into Quantum shares, according to a Rail Vision press release. Subject to regulatory approvals, the acquisition is anticipated to close within the next 60 days.

Railinc and Duke University’s Christensen Family Center for Innovation announced a new collaboration to explore practical innovations that advance freight-rail safety and efficiency. The initiative will harness Duke’s Product Lab, a student-led program where teams create solutions in rapid sprints with industry partners to deliver prototypes that have immediate impact and long-term potential. This partnership aims to solve a common challenge in the rail industry: billing for rail-car repairs. Duke students will explore how applying AI, mobile devices and social media-style technologies could further improve mechanical team efficiency and knowledge sharing, according to a press release issued by Railinc and Duke University.