Supplier news from Parallel, Ballard, Mitsubishi and JMT Industrie Holding

Parallel Systems, a battery-electric autonomous freight-rail company, has closed its Series C funding round with $100 million in new capital from both existing and new investors. Parallel was founded in 2020 by Matt Soule. The company is pursuing commercialization, international growth and scaled manufacturing of its third-generation Panther rail vehicle. "Closing our Series C round is a major inflection point for Parallel ... [and] the short-haul logistics industry," said Soule. The investment is also "the strongest market signal to date that autonomous freight rail is ready for its moment," he added. 

Ballard Power Systems has received an order from Siemens Mobility for 24 of Ballard's FCrail™ 200 kW fuel cell modules. The units will power 12 Mireo Plus H hydrogen passenger-rail trains for Romania's Railway Reform Authority. The order will be the largest commercial deployment of the Mireo Plus H platform and the fist delivery outside of Germany, Ballard officials said. Fuel cell engine deliveries are scheduled for 2027 and 2028; the fleet is expected to enter passenger service in 2029.

Mitsubishi Heavy Industries (MHI) has secured a follow-up order from Singapore's Land Transport Authority (LTA) for eight additional two-car trainsets. The addition beings the total number of vehicles in the order to 33. The vehicles will be used on the Sengkang-Punggol light-rail rapid transit network in the northeast area of Singapore. MHI has supplied all trains and systems for the light-rail network since it opened in 2003 and for the current capacity enhancement project, company officials said in a press release.

The Max-Theurer family has established JMT Industrie Holding GmbH as a joint holding company in Austria for a group of its rail infrastructure businesses. JMT comprises Plasser & Theurer Group, a global technology company for track construction and maintenance machines; Robel Group, a German manufacturer of machines, systems and services for rail infrastructure construction and maintenance; Matisa, a Swiss company in the track construction and maintenance machine sector; and Seno International, a Swiss company specializing in rail grinding. Until now, the four companies have been held in separate corporate structures. The reorganization will result in a uniform and clear group structure with four independently managed sub-groups under the JMT umbrella, Plasser & Theurer officials said in a press release. Combined, JMT is expected to generate revenue of about 1.7 billion euros in 2026. Concurrently, Plasser & Theurer consolidated its subsidiaries into the Plasser & Theurer Group.