Union Pacific Railroad (UNP) Makes Largest Investment in Wabtec's (WAB) FLXdrive Battery-Electric Locomotive
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Union Pacific Railroad (NYSE: UNP) today announced the purchase of 10 FLXdrive battery-electric locomotives from Wabtec Corporation (NYSE: WAB). The order, which marks the largest investment in battery technology by a North American railroad, will upgrade Union Pacific's rail yard infrastructure and support its commitment to significantly reduce greenhouse gas emissions.
"As an industry leader, Union Pacific is pioneering a major application of battery power in its rail yards," said Rafael Santana, President and CEO for Wabtec. "Battery power is an ideal solution to reduce the environmental impact and costs of yard operations. Using the FLXdrive in the rail yard can significantly improve local air quality, as well as reduce noise by up to 70% for neighboring communities."
The approximately 2.5-MWh locomotives are each powered solely by 7,000 battery cells, providing Union Pacific a zero-emission solution for its yard operations. The 10 FLXdrives will enable the railroad to eliminate 4,000 tons of carbon annually from its rail yards, the equivalent of removing 800 cars from the highway. The new locomotives will be manufactured in the United States with the first units being delivered to Union Pacific in late 2023.
"Railroads are already the leader in low emissions ground transportation, and we believe battery-electric locomotives are the next step in our journey to eventually reach net zero," said Lance Fritz, Chairman, President and CEO of Union Pacific. "This first phase of testing will further enhance the technology, and, ultimately, benefit the entire industry."
Union Pacific published its first comprehensive Climate Action Plan in December 2021, outlining its efforts to significantly reduce emissions within its operations. As part of that commitment, Union Pacific will reduce absolute Scope 1 and 2 GHG emissions 26% by 2030 and achieve net zero greenhouse gas emissions by 2050.
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