4Who stands behind American Maglev? Strategic Alliance of PartnersAmerican Maglev TechnologyHolds patents to the technology / site managementDominion - Virginia PowerProvide power equipment and site powerLockheed MartinDesign vehicles, guiderails, system controls, system integration, system testsOld Dominion UniversityFirst Customer
5Paradigm Shift- “This is not your father’s rail!” Lower Cost per Mile Opens New MarketsAMT is Optimized forCommuter MarketUse existing medianDumb track with lightweight vehiclesAMTRegionalRailHighSpeed
6Mid Range Regional (150 km/hr) The Market is Huge$2+Billion projected market in 2007CapabilityHigh Speed (250 km/hr)$2BMid Range Regional (150 km/hr)$1BShort Haul Regional (75 km/hr)Time
7TECHNOLOGY APPROACHES AMTLight RailForeign MaglevPropulsion in vehicle Propulsion in vehicle Propulsion in trackSimple design Complex moving parts Complex & high costElevated guideway Must survive trucks Elevated guidewayAcquisition: $20M/ mile >$40M/ mile >$60M/ mileO&M: Low High Medium
8PROJECT HISTORYAmerican Maglev Technology, Inc. (AMT) Forms Partnership With Lockheed Martin, Dominion Virginia Power (1997)Proposed System Deemed Viable (VDOT, CIT, Others )AMT And University Reach Agreement (1999)Commonwealth Transportation Board Approves Loan And Agreement With University (2000)Maglev Demonstration Project Initiated (2001)
9ODU PROJECT OBJECTIVES Establish Maglev Systems As Feasible And PracticalProvide Functional Transportation System For Old Dominion UniversityEstablish Old Dominion University As Leading Research University In Maglev TechnologyQualify System For Use In Other Locations/Situations
10PROJECT BUDGET $ 7,000,000 Commonwealth of Virginia Loan $ 2,000,000 Federal Funds$ 7,000,000 Private Funds$16,000,000
16GROUNDBREAKING CEREMONY AT OLD DOMINION UNIVERSITY August 29, 2001
17PROJECT SCHEDULE Research & Development Opening Of Development/ Test Facility CompleteCompletion Of Vehicle October, 2001Assembled Vehicle Testing October,May, 2002Delivery Of Vehicle To Norfolk Late June, 2002System Operational (DEP) Late 2004
18VIRTUAL PRESENTATION OF PROPOSED SYSTEM COMPONENTS
22LONG TERM POTENTIAL FOR MAGLEV … A World Market According To Argonne National Laboratory, The US Needs 13,000 Miles Of High Speed Intercity System Within 20 Years (a $300 Billion Market)FRA Has Selected 9 Routes that Are Deemed “Financially Feasible” ($95 Billion)Estimates Are For 2-3 Miles Of Urban And Regional System Every Mile Of High-Speed SystemWorld-wide Market Will Be Vast!
23AMT Market Space AMT plans to be 30% of $2 billion market in 2008 Advanced technology induces demand and accelerates new projects.Lower cost per mile opens up new markets.
24Financials 2004 2005 2006 2007 2008 Revenue ($M) $48 $200 $456 $541 $596Net Income ($M)$5$29$66$73$79Miles under deployment326496989
25HIGH SPEED DEPLOYMENT Virginia’s Maglev Technology National Initiative Starting In Virginia To Deploy Next Generation Transportation Technology And Create A Whole New Industry.AMT Team Submits “Virginia Initiative” To Provide Service From Washington To Jamestown By The 400th Anniversary.Letters Of Support Received From MPO’s Along Proposed Route Hampton Roads, Richmond, Fredericksburg, Wash. Metro AreaProcess Dates:Dec ’03 - Studies CompletedJune ’04 - Development Starts
26WASHINGTON-RICHMOND-HAMPTON ROADS The ODU Project Was Envisioned As The “Test Case” For This Project. Phase 1 Is $1.5B.VA Legislature Made This Maglev Project A “State Priority” In This Year’s Budget.Financial Studies Indicate That Washington To Richmond Is Financially Feasible Now.High Focus On 400th Anniversary Celebration.
27IT IS ALL ABOUT THE COSTThe Technology Can Be Deployed For An “All Up” Cost Of Under $20 Million Per KilometerThe Technology Is Ready Now For New Transit DeploymentsA Realistic Plan Has Been Developed To Grow The Technology To Higher Speeds And More Complex Operation
28OLD DOMINION UNIVERSITY MAGNETIC LEVITATION TRANSPORTATION DEMONSTRATION PROJECT