Hyperloop One becomes 'Virgin Hyperloop One' with new investment

Share
Hyperloop One becomes 'Virgin Hyperloop One' with new investment

The technology for Hyperloop One is now in the early stages of the commercialisation phase after the successful completion of the world's first full scale hyperloop systems test at the DevLoop site outside Las Vegas.

Branson appeared Thursday on CNBC's "Squawk Box" to announce his company, Virgin Group, is investing in Hyperloop One, which is developing the super-fast transport system originally dreamed up by Elon Musk. Tests of Hyperloop One in the desert of Nevada have resulted in speeds of nearly 200mph in recent months.

"Virgin is an iconic brand and having Richard as an ally will help strengthen our mission to spread Hyperloop One throughout the world", Pishevar said in a statement.

"Virgin has been known for investing in and creating innovative companies over the years, and I look forward to making history together as we bring Hyperloop to the world as Virgin Hyperloop One".

Hyperloop One has spent the last three years floundering, and seems unlikely to materialize as a functioning consumer-facing entity any time soon.

Its tracks use magnetic levitation and the pod glides at airline speeds for long distances. Both have abandoned some of Musk's initial concepts, such as the proposed route and cost estimates, but kept the core technological proposal intact. Brogan has since started a third Hyperloop company, Arrivo.

In July, Musk dropped the H-word in a tweet about the project: "Just received verbal govt approval for The Boring Company to build an underground NY-Phil-Balt-DC Hyperloop".

And there are still questions about whether the Hyperloop technology can even be made to work at all, at least in any way that renders it cost-effective compared to traditional high-speed rail.

As ever, the team behind the business is just as important as the product. "In addition, travelling at those speeds means that any fault in the system would mean everyone on board would die".

Share

Advertisement

Related Posts

Buys Shares of 1417 Netflix, Inc. (NFLX)
USA Financial Portformulas Corp bought a new stake in shares of Netflix during the second quarter worth approximately $6,229,000. In addition to Stifel reporting its stock price target, a total of 40 brokerages have issued a ratings update on the company.

N'Golo Kante to miss six Chelsea games?
Morata has scored six goals and made two assists in seven Premier League games for the Blues so far this season since his move. The report now claims that this could rule him of Chelsea's next six games in all competitions.

Kubica completes "successful" test with Williams
All a spokesman for the British team would say about the Polish driver's run in a 2014 auto was that it had been deemed a success. While Kubica and Di Resta are being evaluated, Massa is also hopeful of being retained for another season alongside Stroll.

California fires MAP: Thousands flee and more evacuated as wildfires DESTROY California
US President Donald Trump has also approved a disaster declaration, allowing federal emergency aid to be disbursed. In some cases, the utility has purposefully cut power to prevent lines from endangering first responders.

Amid uproar, feds back off employee-discount tax and call for consultations
Those organizations might look to scrap those discounts rather than face the challenge of tracking who owes what. There have been no changes to the laws governing taxable benefits to retail employees.

Trump Ignorantly Thinks the Stock Market Reduces Government Debt
Would I have linked it that way? The question of whether the USA has too much, too little or just enough debt is for another day. He told Sean Hannity , "Now, if you look at the stock market, that's one element, but then we have many other elements".

Western Digital unveils breakthrough HDD technology
Storage drives have come a long way in the past 10 years, but that's nothing in comparison with what Western Digital has planned. The company also showcased advancements in micro actuation and Damascene recording head technology.

Advance booking of Vijay-starrer Mersal yet to start in Tamil Nadu
This news, just a week ahead of the film's release, is a nice change given the tumultuous situation in the Tamil film industry. The film marks the collaboration of Atlee and Vijay for the second time after last year's Tamil blockbuster Theri.

Woman granted sick pay to look after her dog
The argument also hinged on a law which calls for a £9,000 fine or a year in jail for those who abandon an animal to "grave suffering".

Cognizant Technology Solutions Corporation (NASDAQ: CTSH)
First Capital Advisors Group LLC. grew its stake in Cognizant Technology Solutions Corporation by 0.9% during the 2nd quarter. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other.

© 2015 ExpressNewsline. All Rights reserved.