Connected and autonomous vehicles (CAVs) firm Cavnue has appointed a P3 stalwart as its new chief commercial officer.
Karl Reichelt joins the firm as it looks to deliver the nation’s first smart road project in Michigan, a smart corridor along I-94 near Detroit.
A veteran of the P3 sector, Reichelt joins from Equitix’s where he served as its Americas chief executive officer. Before that he held numerous leadership positions at Bombadier and Aecom, including leading their P3 pursuits.
Reichelt has helped deliver several of the USA’s flagship P3 projects including the I-4 Ultimate Toll Road in Florida, the LaGuardia Central Terminal Building P3 in New York, and the I-75 Segment 3 P3 in Michigan.
Cavnue recently raised $130m in Series A backing, with major names such as Sidewalk Infrastructure Partners and Ford participating.
“Cavnue stands at the forefront of developing and delivering next-generation smart roads that are safe, efficient, and future-proofed. What an opportunity it is to join Cavnue and help drive the company to the next level,” said Reichelt.
P3 veteran takes reins at CAV pioneer firm
