Parallel Systems is building autonomous electric rail for short-distance freight

The business of moving goods in the United States is dominated by trucks, which handle about two-thirds of the 20.2 billion tons of freight that’s transported annually. Parallel Systems founder and CEO, Matt Soule, wants to change that by putting a modern autonomous and electric twist on the centuries-old railroad system. 

The Los Angeles-based company is building battery-powered autonomous freight technology that works with existing freight cars and integrates with existing train control software. Soule’s pitch: Parallel’s system makes it…