New York: Richard Branson is now an investor in Hyperloop One, with the Virgin Group making an undisclosed strategic investment in the company. The investment is significant, considering that Hyperloop One will now be rebranded as Virgin Hyperloop One, and Branson joins the conpany’s Board of Directors.
The partnership is kind of a natural fit, with Virgin Group’s existing expertise in transportation, operations, safety and passenger experience and Branson’s personal quest for innovation.
“After visiting Hyperloop One’s test site in Nevada and meeting its leadership team this past summer, I am convinced this groundbreaking technology will change transportation as we know it and dramatically cut journey times,” said Richard Branson. “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.”
This global partnership will focus on passenger and mixed-use cargo service in addition to the creation of a new passenger division. Depending on the market, other brands could be used globally as well. Following the successful test at its Nevada test track “DevLoop” this past summer, Hyperloop One continues to see a growing demand from governments and the private sector around the world with projects underway in the UAE, U.S., Canada, Finland, the Netherlands and India.
With Hyperloop One, passengers and cargo are loaded into a pod, and accelerate gradually via electric propulsion through a low-pressure tube. The pod quickly lifts above the track using magnetic levitation and glides at airline speeds for long distances due to ultra-low aerodynamic drag. It is an efficient, clean, all-electric technology that is poised to deliver a sustainable mode of transportation in the future.