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Benzinga

Business

Omar Sacirbey

A Waymo for Freight Trains? This Start-Up CEO Is Working On It

Parallel EA SPORTS SpaceX United States Rio Tinto

Maricopa,,Arizona,-,Oct,13,2023:,Train,Cars,Carrying,Hub

After 20 years as an aerospace engineer, including 13 years at SpaceX, Matt Soule sought a new transportation challenge he could channel into a startup. He chose electric battery autonomous freight trains.

"I became really enamored with it because it was very energy efficient. But the problem was market share," Soule, the CEO of Los Angeles-based Parallel Systems, told Benzinga. Soule co-founded Parallel in 2020 to develop the driverless freight trains he envisioned.

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