15:14:37 EDT Mon 29 Apr 2024
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Canadian Pacific Kansas City Ltd
Symbol CP
Shares Issued 932,455,959
Close 2024-04-01 C$ 119.30
Market Cap C$ 111,241,995,909
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Globe says CPKC plans to decarbonize its fleet

2024-04-01 08:14 ET - In the News

The Globe and Mail reports in its Monday, April 1, edition that Canadian Pacific Kansas City plans to decarbonize its fleet with hydrogen locomotives. The Globe's Kelly Cryderman writes that compared with ubiquitous diesel-electric locomotives, the soundlessness of hydrogen-fuelled locomotives undersells its power. The main noise is a soft electrical hum. There is no noisy diesel engine and no smelly exhaust. The locomotive emits nothing but a stream of steam. CPKC's Kyle Mulligan says: "We didn't want to approach the public by showing renderings of what could be possible. We wanted to make sure we did what we said we would do and build something that works. ... Hydrogen could be considered a fuel of the future." With its small fleet of Alberta-designed and built fuel cell locomotives, CPKC has jumped ahead in the global race to harness the power of hydrogen. The simplest, lightest and most abundant element in the universe can be a low-carbon energy carrier and is seen by many as an integral part of any energy transition. CPKC now has three diesel freight locomotives retrofitted with hydrogen fuel cells and lithium-ion batteries. It plans to build three more by the end of the year.

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