News Worms
News Worms

Richard Branson invests in transportation startup Hyperloop One

Richard Branson invests in transportation startup Hyperloop One

"For more than 20 years, Richard and Virgin have been at the forefront of transportation innovation, and a partnership with them feels like a natural fit", Shervin Pishevar, co-founder and executive chairman of Hyperloop One, said in a statement.

Hyperloop One, the Los Angeles-based startup working on an ultrafast tube transportation system, is no more.

Virgin Group has invested in Hyperloop One and rebranded the company Virgin Hyperloop One.

Branson, a British billionaire with investments in retail, music and airlines, said he believes in the new system, which aims to deliver transport at near-supersonic speeds in sealed tubes.

The pod quickly lifts above the track using magnetic levitation and glides at airline speeds for long distances due to ultra-low aerodynamic drag.

Early tests of the technology have achieved speeds around 200 miles per hour, including SpaceX's hyperloop pod competition and Hyperloop One's own test runs on a track in the Nevada desert that have hit a top speed of 192 miles per hour.

Trains: Hyperloop floats above the surface of the tube.

Several companies have been dabbling in hyperloop technology since Elon Musk released basic plans for the transit system several years ago, but none are as close to reality as Hyperloop One.

On their website, Virgin said: 'Ever since our creation, Virgin has been known for disruption and investing in innovative companies.

In a post on his website, Branson said he aimed to turn it into a "global passenger service" which could complete the 332-mile journey between the Scottish and United Kingdom capitals, via Manchester, in under an hour.

"We're incredibly excited about the technology behind Virgin Hyperloop One and the way it could transform passengers' lives", he said.

Previous estimates for hyperloop journey times include a 338-mile route between Glasgow, Edinburgh and Liverpool in 38 minutes.

'This is just the latest example'.

Meanwhile, Musk is now working part-time on a similar project, called The Boring Company.


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