Hyperloop
One, which is developing technology for a futuristic transit system,
said it had raised an additional $50 million as it prepares for a
full-scale test of a Hyperloop system in the first quarter of 2017.
A
Hyperloop involves using magnets to levitate pods inside an airless
tube, creating conditions in which the floating pods could shuttle
people and cargo at speeds of up to 750 mph (1,200 kph).
The
concept originated in a paper by Tesla Motors Chief Executive Elon
Musk in 2013, who envisioned it whisking passengers from Los Angeles to
San Francisco in 30 minutes.
Hyperloop One got its latest round of funding from DP World Group of Dubai.
The $50 million takes its total funding to $160 million.
DP
World Group, whose chief executive is also joining Hyperloop One's
board, signed an agreement with the company in August to explore a
Hyperloop system to move containers from ships docked at its flagship
Port of Jebel Ali to a new inland container depot in Dubai.
Los
Angeles-based Hyperloop One has previously got funding from the likes
of 137 Ventures, Khosla Ventures, the French National Rail Company and
GE Ventures.
Former
Uber Chief Financial Officer Brent Callinicos was also appointed as a
full-time adviser to Hyperloop One Chief Executive Rob Lloyd and the
board.
There
are currently no functioning Hyperloops anywhere in the world, and
skeptics wonder if the technology can ever make the leap from science
fiction to reality.
Musk has encouraged third-party firms to develop the technology.
These firms include Hyperloop One and Hyperloop Transportation Technologies (HTT).
If the
plans go ahead, and the technology proves successful, people could
travel the 67 miles from Dubai to Fujairah in 10 minutes.
This currently takes just over 2 and a half hours to drive.
London to Manchester in 18 MINUTES: Radical Hyperloop system that travels at 740mph could be coming to the UK
- Futuristic transport network would slash journey times in northern England
- It would use magnetic pods to reach 760 mph through a series of tubes
- Two of the firms racing to make Hyperloop a reality spoke with the UK
- The government showed interest in the concept for the north of England
Hyperloop, the radical technology which transports passengers at close to the speed of sound, could be heading for the UK.
The
UK government has shown its interest in concept, which could link
cities in the north of England and cut the journey time to London to a
matter of minutes.
Both
of the firms competing to build the futuristic transportation network –
Hyperloop One – have reportedly held conversations with the government
and private firms regarding bringing the concept to the UK.
Details of the discussions emerged as part of an extensive report from Wired, in which firms and the government’s own Innovate UK showed interest in the technology.
The
brainchild of billionaire and head of Tesla and SpaceX, Elon Musk,
Hyperloop will use magnetic train-like pods to shuttle passengers and
freight around a network of tubes at close to the speed of sound.
While
the technology is still largely at the concept stage, early tests have
been carried out on the propulsion technology, which could ultimately
transport passengers at 760 miles per hour (1,220 kph).
According
to Wired, talks with UK firms centred on the potential for a Hyperloop
system linking Manchester to Liverpool, which would overcome existing
transport issues linking the two cities, creating a true ‘northern
powerhouse’.
The head of Hyperloop One said
travelling at such high speeds could enable passengers and freight to
make the journey from London to Manchester in 18 minutes (pictured)
