CPKC Joins RailPulse Coalition Driving Innovation in Railcar Telematics

Rhea-AI Summary

Canadian Pacific Kansas City (CPKC) has joined the RailPulse Coalition, becoming the third Class I railroad and 10th member of the coalition. The initiative aims to develop and accelerate the use of GPS and other telematics technologies on railcars, enhancing safety, efficiency, and visibility across North America's freight rail industry. CPKC's Executive Vice President and Chief Marketing Officer, John Brooks, expressed excitement about contributing to the acceleration of railcar telemetry adoption in North America. The key objectives of RailPulse include industry-wide telematics infrastructure, data-driven transformation, and enhanced service through visibility. The partnership with CPKC is seen as a driving force for transformative change in the rail sector by fostering a culture of innovation.

CALGARY, AB, Feb. 1, 2024 /PRNewswire/ - Canadian Pacific Kansas City (CPKC) today announced its membership in the RailPulse Coalition.

RailPulse, founded by a dynamic consortium of forward-thinking railcar owners, is working to develop, broaden and accelerate the use of GPS and other telematics technologies on railcars that increase safety, efficiency, and visibility across North America's freight rail industry.

CPKC becomes the third Class I railroad and 10^th member of the coalition, joining Bunge North America, GATX, Genesee & Wyoming Inc., Norfolk Southern Corporation, Railroad Development Corporation, The Greenbrier Companies, TrinityRail, Union Pacific Railroad, and Watco Companies LLC.

"We are pleased to be a part of RailPulse and to contribute to accelerating adoption of railcar telemetry in North America," said John Brooks, CPKC Executive Vice President and Chief Marketing Officer. "This collaboration aligns with our commitment to innovation and will play an important role in modernizing our customer experience and provide benefits to the entire supply chain by advancing safety and improving operations."

The key objectives of RailPulse include:

• Industry Wide Telematics Infrastructure: The initiative facilitates collaboration among industry players by creating a secure, trusted, standardized, and vendor neutral railcar telematics infrastructure that spans the entire North American freight rail industry.
• Data-Driven Transformation: By building an information infrastructure that harnesses data from GPS and railcar-mounted sensors and prioritizing data standardization and storage in the cloud, RailPulse focuses on delivering actionable insights enabling enhance service levels, visibility, safety, sustainability, and productivity.
• Enhanced Service through Visibility: Through RailPulse, the integration of telematic sensors on railcars enables the generation of valuable data, empowering shippers with real-time visibility of railcar and goods movements to make informed decisions and optimize their operations.

"We welcome CPKC to the RailPulse Coalition. Together, we will drive transformative change in the rail sector by combining our strengths and fostering a culture of innovation," said David Shannon, General Manager of RailPulse. "This partnership underscores our commitment to shaping the future of rail transportation."

Response from RailPulse Members:

"The Board of RailPulse is very excited to welcome CPKC," said Mike McClellan, RailPulse Board Chair and Sr. VP &Chief Strategy Officer at Norfolk Southern. "CPKC brings a breadth of railroading knowledge to the table, and the insights that CPKC will be able to contribute from operating in 3 countries will be invaluable as we drive RailPulse to serve all of North America."

Forward looking information 

This news release contains certain forward-looking information and forward-looking statements (collectively, "forward-looking information") within the meaning of applicable securities laws in both the U.S. and Canada. Forward-looking information includes, but is not limited to, statements concerning expectations, beliefs, plans, goals, objectives, assumptions and statements about possible future events, conditions, and results of operations or performance. Forward-looking information may contain statements with words or headings such as "financial expectations", "key assumptions", "will", "anticipate", "believe", "expect", "plan", "should", "commit", "outlook", "guidance" or similar words suggesting future outcomes. 

This news release contains forward-looking information relating, but not limited, to statements about future technology and the potential for telematics technologies to increase safety, efficiency, and visibility across North America's freight rail industry and CPKC's expected benefits from such future technology. 

The forward-looking information contained in this news release is based on current expectations, estimates, projections, and assumptions, having regard to CPKC's experience and its perception of historical trends.

Forward-looking information involves many inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking information, including but not limited to the factors that are detailed from time to time in reports filed by CPKC with securities regulators in Canada and with the U.S. Securities and Exchange Commission (SEC) in the United States.

Reference should be made to "Item 1A - Risk Factors" and "Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations - Forward-Looking Statements" in CPKC's annual and interim reports on Form 10-K and 10-Q. Any forward-looking information contained in this news release is made as of the date hereof. Except as required by law, CPKC undertakes no obligation to update publicly or otherwise revise any forward-looking information, or the foregoing assumptions and risks affecting such forward-looking information, whether as a result of new information, future events or otherwise. 

About CPKC
With its global headquarters in Calgary, Alta., Canada, CPKC is the first and only single-line transnational railway linking Canada, the United States and México, with unrivaled access to major ports from Vancouver to Atlantic Canada to the Gulf of México to Lázaro Cárdenas, México. Stretching approximately 20,000 route miles and employing 20,000 railroaders, CPKC provides North American customers unparalleled rail service and network reach to key markets across the continent. CPKC is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpkcr.com to learn more about the rail advantages of CPKC.

About RailPulse: RailPulse, formed in 2020 by a diverse group of industry leading stakeholders, is dedicated to transforming the rail industry through accelerating the adoption of GPS and other telematics technologies delivered through an open-architecture railcar telematics platform. The platform emphasizes data standardization, cloud storage, and delivering actionable insights to enhance service levels, visibility, safety, and efficiency in North American rail-based supply chains.  Visit railpulse.com to learn more about the RailPulse initiative.

View original content:https://www.prnewswire.com/news-releases/cpkc-joins-railpulse-coalition-driving-innovation-in-railcar-telematics-302050826.html

SOURCE CPKC

FAQ

What is the purpose of RailPulse Coalition?

The purpose of RailPulse Coalition is to develop, broaden, and accelerate the use of GPS and other telematics technologies on railcars to increase safety, efficiency, and visibility across North America's freight rail industry.

What are the key objectives of RailPulse?

The key objectives of RailPulse include industry-wide telematics infrastructure, data-driven transformation, and enhanced service through visibility.

Who is the Executive Vice President and Chief Marketing Officer of CPKC?

The Executive Vice President and Chief Marketing Officer of CPKC is John Brooks.

How many members are there in the RailPulse Coalition?

There are 10 members in the RailPulse Coalition, with CPKC being the third Class I railroad to join.

What role does CPKC play in the RailPulse Coalition?

CPKC contributes to accelerating the adoption of railcar telemetry in North America and aligns with the commitment to innovation in modernizing customer experience and improving operations.