FLOWER MOUND, TX: BNSF Logistics, part of Berkshire Hathaway's Burlington Northern Santa Fe railway, has purchased Transportation Technology Services, a provider of outsized cargo movements by rail.
The acquisition price was not disclosed.
TTS began as a rail engineering company in 2001 and has since evolved to provide specialty services with a particular focus on the wind turbine industry.
The transaction follows other wind energy investments including BNSFL's Blade Runner research and development efforts that are focused on the emerging wind energy market.
Commenting on the purchase BNSFL's president Ray Geer said: "TTS's engineering and design capabilities, extensive wind fixtures, and rail transload locations coupled with their talent and market expertise in industrial products are a perfect fit for our broader expansion into the industrial products sector that handles freight of all sizes."
TTS will become the U.S. Rail, Project Cargo and Engineering Services division of BNSFL. The two companies have developed and managed nearly 50 unique project cargo transload sites across the U.S. over the past six years covering the wind energy, power generation, oil & gas, heavy machinery and manufacturing sectors.
The company manages a fleet of nearly 2,000 rail cars of which 1,200 are equipped with patented fixtures designed to handle wind turbine components including blades, tower sections and nacelles.
According to Environmental Entrepreneurs (E2), a national non-partisan group of business leaders and investors who manage US$100 billion in venture and private equity capital, nearly 40 clean transportation or energy projects were launched during the first three months of 2015. Georgia, California, and Texas led the subsequent job announcements that will total nearly 10,000 across 19 U.S. states.
E2 notes that to continue clean energy job growth, federal and state policymakers must provide more regulatory certainty: "This would send a strong market signal to the private sector allowing businesses to invest in their own operations, create jobs and expand local economies all across the country," says the group.