Virgin Hyperloop One completed its third phase of testing achieving historic test speeds of 387 km/h at DevLoop, the world’s first full-scale hyperloop test site.
The company achieved faster speeds and tested a new airlock which helps transition test pods between atmospheric and vacuum conditions during its latest test campaign which was completed on December 15. All components of the system were successfully tested including the airlock, highly efficient electric motor, advanced controls and power electronics, custom magnetic levitation and guidance, pod suspension, and the vacuum. The tests were conducted in a tube depressurized down to the equivalent air pressure experienced at 200,000 feet above sea level. A Virgin Hyperloop One pod quickly lifts above the track using magnetic levitation and glides at airline speeds for long distances due to ultra-low aerodynamic drag.
“The recent phase three testing continues to prove the incredible persistence and determination of our DevLoop team, the close to 200 engineers, machinists, welders, and fabricators who collaborated to make hyperloop a reality,” said Josh Giegel, Virgin Hyperloop One’s co-founder and chief technology officer.
In addition, USD 50 million investment was made by existing Virgin Hyperloop One investors Caspian Venture Capital and DP World who have been consistently supportive investors and have backed the company in each of its funding rounds. This investment brings the total financing raised by Virgin Hyperloop One to USD 295 million since its founding in 2014.
“This investment provides Virgin Hyperloop One with a very robust financial platform for 2018 ahead of our Series C round of fundraising. We are so proud to have investors who consistently step-up to support our company and our vision. We continue to see extremely strong interest from world leaders globally looking to embrace hyperloop to address critical infrastructure challenges. Our focus in 2018 will be on accelerating commercial agreements for both passenger and cargo projects,” said Virgin Hyperloop One’s CEO Rob Lloyd.
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