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In third-quarter 2020, Wabtec received an order for transit hybrid locomotives for New York City and a first zero-to-zero order for a Class I railroad, according to Cowen's Elkott.

Fuel Cells and Batteries: The Future of Mobility?

As part of Cowen and Company’s “Energy Transition Series,” analysts spoke with The Hydrogen Council Executive Director Daryl Wilson to explore the adoption of hydrogen and fuel cell technologies—from stationary to mobility applications. Also addressed were use-cases relating to complementary battery technology and costs of hydrogen as a fuel source. Cowen analysts discussed, too, how Cummins and Wabtec are operating in this market.

USDOT Appointments Announced

The Biden Administration has appointed 39 key members of the U.S. Department of Transportation, with more to come. Among them are Amit Bose, Deputy Administrator of the Federal Railroad Administration (FRA), and Nuria Fernandez, Deputy Administrator of the Federal Transit Administration (FTA). Both have held the positions previously.

UP’s 2020 capital program totaled $2.8 billion. One of the railroad's projects was the Dec. 29 installation of a new master retarder in Houston's Englewood Yard; work took close to eight hours (pictured).

UP’s ‘True Potential’ Shown in 4Q20 Results (Updated, Cowen)

Union Pacific (UP) reported Jan. 21 that it earned $1.38 billion, or $2.05 per diluted share, in fourth-quarter 2020—comparable to fourth-quarter 2019’s $1.4 billion, or $2.02 per diluted share. Excluding a previously announced $278 million pre-tax, non-cash impairment charge related to its Brazos yard investment, adjusted fourth-quarter 2020 income was $1.6 billion, or $2.36 per diluted share.