Mountain View-based company recognized for its work in advancing a driver-centered platooning and automated trucking approach
Mountain View, CA – October 29, 2019 — Peloton Technology, a developer of connected and automated vehicle systems for U.S. and global freight carriers, has been named a winner of Silicon Valley Business Journal’s (SVBJ) 2019 Upstart Tech Awards for its pioneering work on connected and automated trucking systems. Peloton’s driver assistive platooning system and newly announced automated following system promise game-changing trucking industry improvements in highway safety, fuel savings, driver productivity, and operational efficiency.
The Upstart Tech Awards recognize Silicon Valley-based companies developing innovative technologies that promise to change lives and make sizeable industry impacts. Nominees of this award are required by the outlet to be privately held, have hit the Series B venture funding threshold, and be developing ambitious technologies with a solid business focus.
Peloton Technology has served as an industry leader in platooning technology, connected and automated vehicle safety validation, and policy innovation since raising funding in 2013 with key investors including UPS Strategic Enterprise Fund, Breakthrough Fuels, Lockheed Martin, Omnitracs, and Volvo Group Venture Capital. Peloton’s Level 1 driver-assistive system, PlatoonPro, links pairs of heavy trucks using electronic vehicle-to-vehicle communications, allowing them to travel at a shorter following distance due to the trucks’ robust connected active safety systems. PlatoonPro has now operated with six major customer fleets and shippers hauling freight and has an additional multi-month customer fleet trial currently underway that integrates platooning with trained customer fleet drivers in real logistics operations. These customer fleet trials give fleets and shippers the opportunity to experience the benefits of platooning including fuel efficiency gains, driver teamwork and linked safety, and operational efficiency improvements.
In July 2019, Peloton unveiled its Level 4 Automated Following solution, an advanced SAE Level 4 platooning system, which combines vehicle-to-vehicle (V2V) technology and advanced radar and sensor sets to enable a single professional driver to drive a pair of vehicles. The company’s leading work in driver-assistive platooning technology is the key enabler to making automated trucking and connected automation a near-term reality. AutoFollow development will source from the robust connected vehicle technology foundation, driver-centric approach, and real-highway experience forged in commercializing Peloton’s flagship Level 1 platooning system, PlatoonPro.
“Here in the heart of Silicon Valley, where so many great start-ups and companies are based, we are honored to have received this recognition as a business-focused trailblazer poised for strong growth,” said Peloton Technology Founder, President, & Chief Architect, Josh Switkes. “We continuously strive to improve the safety and efficiency of the freight industry, and it’s exciting to have our efforts acknowledged by the SVBJ community.”
The company’s leadership has helped pave the way for 27 states to allow for commercial deployment of platooning to date, with approved states now encompassing over 75 percent of annual U.S. freight truck traffic. Peloton has also long been an advocate for transparency, initiating the development of a robust, voluntary safety system approach report in 2019 to enhance stakeholder understanding of the PlatoonPro system and to adhere to best practices for automated vehicle systems.
As Peloton advances its vision for a driver-centered approach to trucking automation and platooning, the organization recently promoted Steve Boyd, former Vice President of External Affairs to the position of Founder & Chief Executive Officer. The company’s former CEO, Josh Switkes, will continue in a new leadership role as Founder, President, & Chief Architect for the company.
“At Peloton, we believe the race to autonomous driving will be won with a driver-centered approach. We’re committed to improving safety and productivity for the freight industry by harnessing the expertise of professional drivers and equipping them with the enhanced safety systems offered by connected and automated technologies like platooning,” said Steve Boyd, Peloton Founder & CEO. “Platooning is a direct path toward deploying commercial vehicle automation, and we look forward to continuing to carve that path throughout the remainder of 2019 and beyond.”
Peloton will be honored by SVBJ during a special awards event on Tuesday, Oct. 29, at the Crowne Plaza Hotel in Palo Alto.
About Peloton Technology
Peloton is a connected and automated vehicle technology company dedicated to improving the safety and efficiency of U.S. and global freight transportation. Backed by ten Fortune Global 500 companies, Silicon Valley-based Peloton partners with customers to deliver innovative tools that save fuel and improve operational efficiency, productivity, and improve operational insight through connectivity, automation, and advanced data analytics. Peloton’s automation systems combine the power of active safety systems, the skill, and expertise of professional drivers, and the power of our Network Operations Cloud to connect trucks and constrain system operation to appropriate roads and conditions. Peloton solutions also aim to improve the safety of trucks by building on best-in-class collision mitigation systems and other safety features that are active both in and out of a platoon. For more information, visit peloton-tech.com.