Friday, February 26, 2010

RailRunner gets $13.4 million in financing

Written by 

Lexington, Mass.-based RailRunner, N.A., Inc., Friday announced it has received an investment of $13.4 million through a private placement. U.S. Boston Capital Corp. acted as the placement agent, the company said.

railrunner_logo.jpg

RailRunner, a developer of rail products and services providing low-cost intermodal transportation options for underserved markets, markets its Terminal Anywhere™ system that enables shippers to maximize the economics of rail-to-truck intermodalism, while linking directly into the international containerized shipping network.

“Our strengthening relationships with rail partners, ocean carriers, and shippers seeking innovative solutions that shift as much freight transport as possible from highways to rail has created significant interest worldwide in the RailRunner system,” said Charles Foskett, RailRunner CEO. “This additional capital will enable RailRunner to capitalize on this significant market opportunity and meet the significant demand for our products and services.”