Rolling stock solution to provide on-demand locomotive power for commuter rail
A first-of-its-kind US transit solution that provides commuter rail agencies with certified locomotive power built for like-new condition on flexible lease terms.
BOSTON, June 10, 2022 /PRNewsWire/ — — Rolling Stock Solutions, LLC (RSS) is pleased to announce a new leasing platform that will specifically address the challenges of transforming and improving US commuter rail agencies. Focused on providing proven, like-new locomotive power. An old locomotive fleet.
To provide cleaner, quieter, more reliable service to transport rail passengers.
The RSS is led by veteran US transit industry veterans. Chief Executive Officer Phil Puccia, a former deputy general manager of the MBTA in Boston and a veteran investment banker, said, “Having spent two decades at the intersection of government operations and finance, I am well aware that agency leaders have to be trusted, It is imperative to provide best-in-class transit service on a limited budget. We believe the RSS leased fleet provides commuter rail operators with a new, flexible resource to maintain and strengthen their service posture at a reasonable cost. Is.”
RSS is associated with its strategic partner, Alternate Concepts, Inc. ACI is a full-service operator of heavy rail, light rail, commuter rail and bus transit services throughout the United States. The company is headed by two former General Managers of MBTA. ,
RSS is sponsored by Adelphi Capital Advisory, a private equity platform with extensive experience capitalizing in the transportation industry, building, and growing equipment leasing and finance businesses.
RSS was created to help commuter rail agencies meet an urgent service delivery challenge – replacing end-of-life diesel-electric locomotives with new capacity that is cleaner and more reliable than the older locomotives in their fleet. Is.
RSS will provide locomotive power to commuter rail agencies from a fleet of proven-model locomotives that are built in completely new condition under standard industry specifications. The initial RSS fleet will consist of completely overhauled F40PH locomotives.
RSS locomotives will be cleaner (lower NOx, hydrocarbons, and PM10 emissions), quieter, and more reliable than most commuter locomotives in service today – and, because they are standard specification, RSS locomotives integrate seamlessly into agencies’ existing fleets. There may be operation and maintenance programs. The electronics package on RSS locomotives is completely built to enable the installation and integration of an agency’s positive train control system.
RSS will provide locomotive power solutions to rail agencies under term-flexible lease option, which will give them – in short – instant power to meet their most urgent transitory needs. RSS engines will be 100% Buy America compliant, and RSS locomotive lease contracts will be eligible for FTA capital investment funding.
Commuter rail is an important passenger transit solution for the United States. The industry has grown significantly over two decades, serving 15–20% of daily transit trips, relieving congestion, and providing an important suburban to urban link.
An outdated locomotive fleet is threatening the success of commuter rail, putting pressure on service reliability, and increasing agency maintenance costs. The average diesel-electric locomotive in a commuter rail fleet is 26 years old—long before its intended useful life—and maintenance costs per passenger mile have been about 33% over the past several years. Most diesel-electric units in service today are pre-Tier 0 EPA rated locomotives, with an emissions profile far below the Tier 4 standards governing new locomotive builds, or even an incrementally cleaner intermediate tier. (Tier 0+ to Tier 3) are manufactured. last 20 years.
Complicating the situation, the procurement cycle for new construction engines can now extend to 10 years – resulting in increased capital costs and administrative burden on the agency. Given the limited US supply base for Buy America compliant Tier 4 engines, delays in procurement may continue for some time. This will mean further aging of the fleet and continued challenges for service reliability, improved emissions, and reduction of maintenance costs in commuter rail.
The RSS was established with the specific objective of helping agencies meet the challenges of their fleet being rebuilt to like-new condition, by offering immediate locomotive capacity on flexible lease terms in proven models.
RSS locomotives are:
- Proven RSS leases well established locomotive models – built to standard specifications – with a proven performance and maintenance track record in commuter rail.
- reliable. RSS makes its engines like new with a service life of 20+ years, providing immediate reliability improvements and low maintenance costs.
- cleaner. A completely revamped prime mover and Tier 4 HEP brings significant reduction in NOx, hydrocarbon and PM10 emissions and provides better fuel efficiency than the existing fleet of pre-Tier 0 locomotives.
- Mute. The new HEP technology dramatically reduces the noise of the RSS engines – there are no “screamers” in the RSS fleet.
- uninterrupted. The RSS model is well known for the agency’s maintenance workforce, and no new training or tooling is required to deploy RSS units to service.
- on demand. Flexible leasing solutions support the agency capacity problem without a lengthy, complicated and costly procurement process.
- eligible for funding. RSS engines will be 100% Buy America compliant, and RSS lease contracts will be eligible for FTA capital investment funding.
RSS is currently overhauling its initial fleet of F40PH locomotives through an extensive rebuilding partnership with CAD Railway Industries and their US-based partner Metro East Industries – both industry leaders with experience in locomotive design and rebuilding. The RSS fleet will be deployed for initial lease operations with the commuter rail agency’s clients in mid-2023.
About Rolling Stock Solutions
Rolling Stock Solutions is the first US transit solution of its kind to provide certified locomotive power to commuter rail agencies, built to like-new condition on flexible lease terms.
About :RSS Leadership
Chief Executive Officer Phil Puccia was the former deputy general manager of the Massachusetts Bay Transportation Authority (MBTA), the fourth largest transit operation in the United States. Phil Springfield was also the executive director of the Board of Finance Control, a governor’s appointment to lead the finance and operational turnaround of Massachusetts’ third largest city. Phil worked with JPMorgan for 12 years as executive director in municipal finance and as a commercial banking lead in healthcare, education and nonprofits.
Alternate Concepts, Inc. (ACI) is a full-service operator of heavy rail, light rail, intercity and commuter rail, and bus transit services in the United States and Puerto Rico. Headquartered in Boston, Massachusetts, ACI helps move more than 122,000 trains annually. ACI is led by Jim O’Leary, CEO and Founder, and Mike Mullern, Chief Operating Officer. Both Mr. O’Leary and Mr. Mullern previously served as general manager of the MBTA.
About Adelphi Capital Advisory
Adelphi Capital is a private equity platform focused on leading or co-sponsoring investments in multiple industry verticals, including transportation, infrastructure, government services and cyber security. The firm has a deep background in transportation leasing and finance, having sponsored or co-sponsored ten equipment leasing and transportation finance investments, including five active platform companies. Adelphi currently co-sponsors two equipment leasing platforms that together deploy approximately 150,000 intermodal chassis and commercial trailer units leased to customers in the United States. The firm has sponsored the de novo launch of three freight-bill factoring companies and sponsored growth phase investments in two equipment finance providers, where, collectively, these firms collected more than $3 billion in freight and $1 billion during Adelphi. billion in equipment leases and loans. possession.
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