Railpower Technologies awarded contract from Virginia International Terminal for three fuel efficient locomotives

    TSX Symbol: P

    MONTREAL, July 31 /CNW Telbec/ - Railpower Technologies Corp. (TSX: P)
announced today that Virginia International Terminal (VIT) purchased two
multi-genset, low emission, fuel efficient, four-axle RP20BD locomotives and
one hybrid GG20B locomotive from the Corporation. The agreement reached
between Railpower and VIT is a three year long term lease with the commitment
to purchase at its expiry.
    "Over time, these locomotives will pay for themselves in fuel savings,
efficiency, maintenance and overall operating costs while significantly
reducing the Port of Virginia's carbon emissions" said Heather Mantz, VPA's
Director of Environmental Affairs.
    The four-axle RP20BD model sold is the first of the low emission, fuel
efficient Eco-Motive series of four-axle units to be designed with a new
modular platform. Also included in the Eco-Motive series low horsepower
solutions are the six-axle RP20CD and the RP14BD. Accompanied by the medium
horsepower six-axle RP27CD, the Eco-Motive series has the ability to cover the
complete array of medium and low horsepower needs for the rail industry. All
three of these models achieve unrivaled adhesion levels that allow customers
to re-evaluate the historic locomotive requirements for their freight
movements and optimize the utilization of their assets.
    The four-axle GG20B hybrid model requested by VIT demonstrates that the
interest in hybrid technology for rail application still exists. The GG20B is
a viable product for customers who want the greatest emissions and fuel
savings, which are completely unattainable with conventional technology. The
return to service of Railpower GG20B Generation III units across America,
represents Railpower's commitment to continually standing behind its products.
First-and-only to market with hybrid, Railpower will continue to develop its
technologies to meet evolving customer needs.
    "This new award combined with the success of our new six-axle model at
Union Pacific, demonstrates that Railpower is the supplier of choice of
locomotives that provide a return-on-investment both in economical and
ecological terms" said Mr. José Mathieu, President and CEO of Railpower.

    About Railpower

    Railpower Technologies (TSX: P) is a leader in specialized energy
technology systems for the transportation and related industries. It is
engaged in the development, construction, marketing and sales of specialized,
patented, environmentally friendly technology systems for the transportation
and related industries. Railpower's technologies significantly reduce fuel
usage, operating and maintenance costs and emissions. While Railpower's
origins are in the transportation industry, its technologies have broad
potential and applications in other markets and industries. Railpower is
headquartered in Montreal, Quebec. It U.S. office is located in Erie,
Pennsylvania (www.railpower.com)

    Caution regarding forward-looking statements

    Certain statements contained in this release contain forward-looking
statements. When used in this document, the words "may", "would", "could",
"will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and
similar expressions may be used to identify forward-looking statements. Those
statements reflect our current views with respect to future events or
conditions, including prospective results of operations, financial position,
and predictions of future actions, plans or strategies. Certain material
factors and assumptions were applied in drawing our conclusions and making
those forward looking statements. By their nature, those statements reflect
management's current views, beliefs and assumptions and are subject to certain
risks and uncertainties, known and unknown, including, without limitation, the
ability to secure new orders, the ability to retain our employees, product
development or manufacturing delays, the ability of our current manufacturing
supplier to meet our production demands in terms of quantity, quality and
costs, our ability to reach a satisfactory agreement with another supplier if
necessary or to build, rent or buy a manufacturing facility, changing
environmental regulations, the ability to attract and retain business
partners, the acceptance of our existing and new products, future levels of
government funding, the need to obtain and maintain proprietary rights over
our technology, competition from other technologies or new competitors, the
ability to access the capital required for research, product development,
operations and marketing, the need to generate positive cash flow in the
foreseeable future, potential legal liability related to the recall of our
Green Goat(R) locomotives, changes in energy prices and currency levels. Many
factors could cause our actual results, performance or achievements to be
materially different from any future results, performance or achievements that
may be expressed or implied by these forward-looking statements. Should one or
more of these risks or uncertainties materialize, or should the assumptions
underlying our projections or forward-looking statements prove incorrect, our
actual results may vary materially from those described in this report as
intended, planned, anticipated, believed, estimated, or expected.
    %SEDAR: 00016554EF

For further information:

For further information: Kamila Wirpszo, Vice-President, General Counsel
and Corporate Secretary, Railpower Technologies Corp., (450) 678-5277 ext.518,
Toll Free: 1-866-678-5277, kwirpszo@railpower.com

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