(RailPower Technologies Corp. issued the following news release on January 16.)
VANCOUVER, B.C. — RailPower Technologies Corp. announced today that CANAC Inc., of Montreal, Quebec, will purchase two Green Goat(R) hybrid locomotives with funding from the Texas Emissions Reduction Program (TERP).
The emissions-reducing 2,000 horsepower equivalent Green Goat(R) locomotives will be built for use in CANAC industrial operations in Harris County in the Houston, TX area, replacing traditional diesel locomotives. The funding, when fully applied, substantially covers the cost of the locomotive conversions.
RailPower(R) President and CEO, Jim Maier said, “Texas is very actively addressing mobile sources of noxious emissions with its TERP program. We are very pleased to have two CANAC locomotives qualify and anticipate additional applications from other users in coming months. The State is demonstrating leadership in addressing the important role that emissions incentive programs can play in promoting technological solutions that will result in significant reductions in air pollution from heavy machinery.”
CANAC President and CEO Frank Trotter, stated, “The RailPower technology, combined with the TERP incentives, represent a good value proposition for CANAC to convert a number of our fleet of switching locomotives to hybrids. We have not only considered the incentives and the emissions reductions in this purchase, but also the future positive impact of operating these hybrids that will deliver substantial cost savings on fuel and maintenance. We expect to pursue additional emissions incentive programs to add more hybrids to our fleet.”
CANAC has been a leading provider of knowledge-based products and services to railroad, industrial and public sector customers, including remote control systems, training, specialized engineering and outsourced operations, for more than 30 years. Headquartered in Montreal, CANAC has operations throughout North America and in selected international markets.
RailPower (TSX-V: P), a leader in specialized energy technology systems for the transportation and power generation industries, is headquartered in Vancouver, BC. Its hybrid locomotives cut NOx and particulates 80-90% and diesel fuel use 50-80% when compared to conventional yard locomotives in the 1,000 – 2,000 horsepower range.
On January 14, 2004, RailPower announced that six Green Kids and one Green Goat(R) had successfully qualified for TERP funding.
The TERP Program is devoting about US$130 million annually to help reduce emissions from mainly heavy duty trucks and off-road equipment.