EUROPE: CargoBeamer has received public and private sector funding commitments of €140m to support expansion of its network of facilities for transporting semi-trailers by rail.
Privately owned CargoBeamer is aiming to develop a network of 18 terminals and 50 routes over next 10 years, building on its current routes serving terminals in Germany, France, Italy and to the UK via Eurotunnel freight shuttle serves.
It says transporting semi-trailers by rail cuts CO2 emissions by around 85% compared to road, and its technology enables 38 semi-trailers to be loaded in 20 min, which it says is nine times faster than using cranes.
The latest funding includes €90m from the German and Swiss governments towards the expansion of the CargoBeamer terminals Kaldenkirchen in Germany and at Domodossola in northern Italy.
‘The fact that public funds are now flowing into CargoBeamer on a large scale is ample proof of the importance of our technology — and yet another strong argument in the ongoing fundraising process’, said CEO Nicolas Albrecht on May 22.
An additional €50m has been secured from private investors led by the Albrecht family’s Nordwind Ventures.
’The move towards significant CO2 reduction in the transport sector initiated by numerous European countries offers CargoBeamer enormous economic potential’, said Dr Hans Albrecht. ‘CargoBeamer has clearly established itself as the most scalable solution, and its growth must now be accelerated.’
The Series B financing round remains open to other investors.
