Sir Richard Branson promises to build 'revolutionary' Hyperloop train service

Saul Bowman
October 14, 2017

It's now Virgin Hyperloop One, thanks to the investment of Richard Branson. The company, with over 20 years of experience in innovative transportation technologies, has invested in Hyperloop One - the only startup that has built a fully-operational prototype of the Elon Musk-envisioned transit system.

"Virgin Hyperloop One are leading the way in these efforts", he continued, noting that the company is "working on exciting projects in the Middle East, Europe, India, Canada, and the U.S.". "Virgin is an iconic brand and having Richard as an ally will help strengthen our mission to spread Hyperloop One throughout the world".

Branson said the company's test site in Nevada impressed him.

Virgin's plan is to focus on using Hyperloop One to transport passengers and cargo. The lawsuit claimed Hyperloop One, Pishevar and other leaders mismanaged the company's money, hired family members, and threatened cofounder Brogan BamBrogan.

Among different groups working to bring the system to life, Hyperloop One achieved major progress with a recent demonstration of a working prototype at its test track in the Nevada desert. The pod quickly lifts above the track using magnetic levitation and glides at airline speeds for long distances due to ultra-low aerodynamic drag.

As part of the deal, the Hyperloop One team will remain in control of all engineering and development, product and system design, business development, and strategy.

"Together with Virgin, we will not only transform how we live, we will rethink how it feels to travel by creating a passenger experience that people will enjoy and look forward to riding".

There are some big changes going on with Hyperloop One today.

The amount Virgin has invested has not been disclosed, though the startup is believed to have raised more than $226 million since its founding in 2014, according to Crunchbase.

Branson's Virgin Galactic was granted an operating license in 2016 to fly its passenger rocketship SpaceShipTwo with the world's first paying space tourists aboard once final safety tests are completed.

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