Startup Voltify raises $30 million for rail electrification platform

US-Israeli startup Voltify raised $30 million in a private funding round to accelerate development of its platform to enable rail operators to transition from diesel to electric without ‌heavy infrastructure ⁠investments, it ⁠said on Tuesday.

Voltify was founded ​by Daphna Langer and Alon Kesse

The ​round was co-led by venture capital firm Aleph and global mining company ​Fortescue , with participation from additional ⁠strategic investors ‌like Menomadin, in ​addition to J-Impact, ​The Dock and E44


⁠In the United States alone, the six largest rail operators spend roughly $11 billion every year on diesel fuel, Voltify said

Installing overhead wires across rail networks would require more than $1 trillion in infrastructure upgrades, making it ‌financially unrealistic for most operators, it said

Voltify's platform, ​it said, ​combines ⁠battery-powered locomotives, dynamic fast-charging technology, and a network of renewable-powered microgrids deployed along rail routes

By ​2035, the company said it aims to reduce more than 50 million tons of CO₂ emissions annually from rail operations alone.