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Press release content from Business Wire. The AP news staff was not involved in its creation.

Swift Rails’ Autonomous Transit Startup Surpasses $330,000 In Ongoing Equity Crowdfunding Campaign

December 23, 2020 GMT

BUFFALO, N.Y.--(BUSINESS WIRE)--Dec 23, 2020--

Swift Rails, Inc. (“Swift Rails” or the “Company”), a startup bringing a new form of on-demand transit to market that is typically 5 times faster and 40 times cheaper than conventional light-rail, today reported it has raised $337,000 of its $1 million goal with two months still remaining in the Company’s first equity crowdfunding campaign ( wefunder.com/swiftrails ).

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Kevin Neumaier, P.E., Chairman and CEO, noted, “I am delighted by the enthusiastic support and engagement we’ve seen already. We now have well over 200 investors, more than 80 encouraging reviews and hundreds of new followers. We are well on our way to raising enough capital to clear our next hurdle of expanding our track and vehicle prototype testing systems. This is a key gateway to help achieve a full-scale showcase demonstration system that enables us to bring our disruptive innovation to the $600 billion transit market.”

Kevin went on to say, “Transportation has a lot of problems and with this one invention we have solved most of them:

  • Sustainable zero emissions vehicles
  • Individualized and on-demand – something you don’t see in transit
  • Switched directly to your destination – 5 times faster than conventional transit
  • Easily elevated at 12-15ft, small footprint
  • Exceptionally safe
  • Private, comfortable experience that runs on your personal schedule
  • 10 to 100 times less expensive than conventional transit

There has been a lot of talk about tunneling, vertical-take-off-and-landing (VTOL), and autonomous vehicles, but in many ways, Swift Rails is a better solution. This is a huge emerging market, and we believe Swift Rails will be the best offering in this space.”

About Swift Rails, Inc.

Swift Rails, Inc. ( www.swiftrails.com ) is working on a new and better form of transportation that is typically 5 times faster and 40 times cheaper than conventional transit. Its mission is to solve the global transportation problem by cutting greenhouse gases, reducing traffic congestion and saving lives.

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Additional information about the Company offering can be found at wefunder.com/swiftrails or by contacting Investor Relations at IR@swiftrails.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20201223005029/en/

CONTACT: Investor Relations

Daryl Anderson

IR@swiftrails.com

KEYWORD: NEW YORK UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PUBLIC TRANSPORT RAIL TRANSPORT OTHER TRANSPORT

SOURCE: Swift Rails, Inc.

Copyright Business Wire 2020.

PUB: 12/23/2020 10:15 AM/DISC: 12/23/2020 10:15 AM

http://www.businesswire.com/news/home/20201223005029/en