Former SpaceX engineers announce electric train startup; GM expands H2 tech; SaaS Labs, Rocketlane raise funding

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Parallel Systems, a company founded by former SpaceX engineers to reimagine the railroad system, has raised $49.55 million in Series A funds to build autonomous battery-electric rail vehicles that move freight, the company said in a press release yesterday; Meanwhile GM said it is expanding its hydrogen fuel cells beyond vehicles to power homes, offices and malls