Hyperloop One announced that Virgin Group has invested in the company to form a global strategic partnership. Under the agreement, Virgin Group’s founder, Richard Branson, joined the board of directors and Hyperloop One will rebrand itself as Virgin Hyperloop One in the coming months.
“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 transport as we know it and dramatically cut journey times. 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,” said Richard Branson.
This strategic 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.
“We’ve focused on developing the technology required to make Hyperloop a reality and demonstrated that it works,” said Josh Giegel, co-founder and President of Engineering of Hyperloop One.
Share on:
