Hyperloop Tech, a VC funded startup developing the technologies require to build the first hyperloop transportation system, is reportedly about to make an important announcement later this week.
The company invited the media to its test site at Apex Industrial Park in the city of North Las Vegas, Nevada, where it is building a hyperloop test track – picture above.
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Hyperloop technologies (HT) co-founders Shervin Pishevar and Brogan BamBrogan were at the Launch Festival last week and sat down with Jason Calacanis to discuss the latest progress in making Elon Musk’s fifth mode of transportation a reality.
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Electrek has learned that Hyperloop Tech, a well-funded private company developing Elon Musk’s hyperloop, recently hired the man behind the failed ‘UK Ultraspeed’ maglev project to lead the company’s global business development for passenger systems.
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Hyperloop Technologies Inc. announced today a deal with Nevada officials to build a new test track for “Propulsion Open Air Test” (POAT) in the state. Hardware will begin arriving this month at the Apex Industrial Park in the City of North Las Vegas, and testing should begin in early 2016.
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Hyperloop Tech announced today the closing of $26 million in convertible note financing, which is part of a $80 million Series B round the company is trying to close by the end of year. Recently appointed CEO Rob Lloyd made the announcement with co-founders Brogan BamBrogan and Shervin Pishevar at the 2015 Web Summit in Dublin earlier today.
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Hyperloop Technologies Inc. recently inaugurated its Innovation Campus in Los Angeles and at the same time, celebrated the hiring of its new CEO, Cisco veteran Rob Lloyd. At the event, the company hosted hundreds of affluent investors, artists, engineers and politicians, including LA Mayor Eric Garcetti. The mayor voiced his support for the company’s project to make a reality of the new mode of transportation first detailed in a white paper by Elon Musk and teams of engineers at Tesla Motors and SpaceX.
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In a blog post and appearance on CBS This Morning, Rob Lloyd was announced as the first official CEO of Hyperloop Technologies; the company trying to make a reality of the high-speed transportation system envisioned by Elon Musk.
Rob Lloyd is a 20 year veteran of networking equipment giant Cisco, where until recently he was President. Lloyd is replacing interim CEO and co-founder Brogan Bambrogan (yes it’s his real name), who will now focus on the technology that will power the Hyperloop.
Elon Musk, who published a white paper on the project in 2013, recently said to CNN that making the Hyperloop is “actually easier than people would think”. He then described the concept as “an air hockey table with a pod in it”. Musk is oversimplifying the concept, but he is not lying either. The goal is to create a low-pressure environment, in this case a tube, in which it will be easier to move things really fast. In other word, it’s recreating the operating environment of an airplane at high altitude, but on the ground.
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The Hyperloop is a new mode of transport consisting of a reduced-pressure tube in which pods powered by solar energy can travel at extremely high-speed due to the low pressure. Two years ago the Hyperloop was only a white paper published by Tesla and SpaceX CEO Elon Musk, but now two independent companies are working hard to make the project happen.
One of these companies is Hyperloop Technologies, which posted pictures showing decent progress on the new mode of transport…
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From Hyperloop Technologies’ Twitter
The Hyperloop is a new mode of transportation detailed in a white paper by tech billionaire Elon Musk and with the help of informal teams of engineers from the two companies he leads; Tesla Motors and SpaceX. The idea is to create a reduced-pressure environment in which it will be easier to transport people or cargo at high-speed and efficiency. This environment would take the form of a tube in which pods would travel at up to 750 miles per hour. The original concept presented in the paper would have been able to travel the distance between Los Angeles and San Fransisco (354 miles) in less than 35 minutes.
Elon Musk, being busy running Tesla and SpaceX, decided to open-source the concept. A group of ex-SpaceX engineers, venture capitalists and other tech veterans didn’t waste any time and created Hyperloop Technologies to try to make the project a reality.
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