Public-Private Partnerships (P3) are partnerships between a government agency and private-sector company can be used to finance, build and operate projects, such as transportation networks. Financing a project through a Public-Private Partnership can allow a project to be completed sooner and can even make it a possibility in the first place. The Private partner participates in designing, completing, implementing and funding the project, while the Public partner focuses on defining and monitoring compliance with the objectives.
In addition to directly handling installation and operation in-house, Transonic's Automated Tube Transport (ATT) can also be procured by licensing the technology. In the latter scenario, Transonic will provide designs and consulting for all components for an ATT Project Entity that represents a Public-Private Ownership structure in exchange for Licensing and Royalty Fees. Additionally, State Departments of Transportation may decide to take advantage of federal-aid highway reimbursement for project expenditures or structure and may decide to structure Public-Private Partnerships that support the state receiving reimbursement on investment from ATT revenues.
Automated Tube Transport (ATT) meets the definition of an Intelligent Freight Transportation System (IFTS) as defined in the new Federal Transportation Bill – The Fixing America’s Surface Transportation (FAST) Act: ‘‘An innovative or intelligent technological transportation system, infrastructure, or facilities, including electronic roads, driverless trucks, elevated freight transportation facilities, and other intelligent freight transportation systems.”
With the current administration reviewing the FAST Act to expedite infrastructure rebuilding and construction, the Infrastructure for Rebuilding America (INFRA) Program was born. The INFRA Program provides dedicated, discretionary funding for projects that address critical issues facing our nation’s highways and bridges. INFRA grants will support the Administration’s commitment to fixing our nation’s crumbling infrastructure by creating opportunities for all levels of government and the private sector to fund infrastructure, using innovative approaches to improve the necessary processes for building significant projects, and increasing accountability for the projects that are built.