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 Parallel Systems Receives $50
Million on Series A
Parallel Systems, an electric rail vehi- cle maker founded by three SpaceX veterans, picked up nearly $50 million in Series A fund- ing in January. The investment, led by Anthos Capital in Santa Monica with contributions from Congruent Ventures, Riot Ventures and Embark Ventures, will be used to build a fleet of rail vehicles, complete testing programs and grow the team, according to the Culver City-based company.
“What we’re doing right now is we are fabricating our second-generation vehicles, and we’re launching an advanced test program that’s really going to answer a lot of key questions that will lead us down the path to commercialization,” said Chief Executive Matt Soule, who was head of avionics at SpaceX before co-founding Parallel Systems with John Howard and Ben Stabler, former SpaceX cowork- ers. Howard now serves as the vice president of hardware for Parallel Systems, while Sta- bler is the vice president of software.
To implement the testing program, the founders are planning to scale their team from 25 to about 85 in the next 12 to 18 months and hire “a lot of software and hardware en- gineers,” added Soule.
Parallel Systems’ rail cars do not need a locomotive — they are autonomous and individ- ually powered, featuring a battery-electric permanent magnet synchronous motor and a bi- directional camera-based perception system. They also have redundant braking that enables them to stop up to 10 times more quickly than a train, according to the company.
Kohler Brings 1M SF Factory,
425 Jobs to Casa Grande, AZ.
Kohler Co. plans to build a new 1 million- square-foot manufacturing facility on 200 acres in the industrial corridor of Casa Grande, city officials revealed.
Casa Grande City Council met Tuesday to approve the development agreement.
The Kohler deal is the latest economic win for Casa Grande. Earlier this year, Lucid Motors started production of its Lucid Air at its Advanced Manufacturing Plant in Casa Grande.
“Pinal County sits at the epicenter of two big cities and is the point of intersection where all infrastructure in the state comes through,” says Jackob Andersen, president and CEO of Saint Holdings, the developer behind some of the county’s largest land deals, in-
cluding two massive industrial parks. Andersen notes that land prices in Pinal County are about 50% to 60% cheaper than in
Metro Phoenix.
Kohler, a kitchen and bath equipment manu-
facturer, plans to build its new factory south of Maricopa-Casa Grande Highway. The site is across the road from the Frito-Lay plant in Casa Grande. It will take approximately 18 months to complete once construction begins.
The Kohler plant is the first major proj- ect that would be built at the Pinal County Technology Park, a 1,000-acre parcel between Clayton Road and Maricopa-Casa Grande Highway.
Once completed, the site is expected to em- ploy 425 within five years.
Boeing’s Deal with Qatar Airways
is Good News For Everett, Renton
WA. Workers
At a White House signing ceremony, Qatar Airways placed a $34 billion deal with Boe- ing. The highlight of that deal is for up to 50 Boeing 777X freighters, a big boost to the 777X program that still awaits FAA certifica- tion to fly, and airlines that aren’t anxious for the giant plane as international air travel continues to recovery from severe impacts from COVID-19.
It’ll be 2027 when deliveries of the freighters should begin. Deliveries of the first passenger jets are delayed until late 2023, though the company has built more than a dozen of them - most parked around Everett’s Paine Field where they are built. The plane made its first test flight on Jan. 25, 2020.
The deal is valued at $34 billion at list prices for up to 50 777-8 freighters, two current-model 777 freighters, and up to 50 of Boeing’s largest Renton-built 737s, the 737 MAX 10. Qatar already has 777X passenger jets on order.
Of the 50 freighters, 34 are firm orders, with options for another 16. Of the 737 MAX 10s, 25 are firm and 25 are options.
Boeing says 20 of the airline’s 60 777X orders were converted from passenger jets to freighters.
“The announcement is a huge boost to Boeing and Everett’s economy,” Everett Mayor Cassie Franklin said. “Obviously, the freight indus- try has only become more and more important in this pandemic. And to get that large of an order out of Everett, that’s a perfect fit, we’ve got the workforce.”
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