• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 days GREEN NEW DEAL = BLIZZARD OF LIES
  • 6 days They pay YOU to TAKE Natural Gas
  • 2 days How Far Have We Really Gotten With Alternative Energy
  • 2 days What fool thought this was a good idea...
  • 5 hours A question...
  • 5 days Why does this keep coming up? (The Renewable Energy Land Rush Could Threaten Food Security)
  • 11 days The United States produced more crude oil than any nation, at any time.
City A.M

City A.M

CityAM.com is the online presence of City A.M., London's first free daily business newspaper. Both platforms cover financial and business news as well as sport and…

More Info

Premium Content

Richard Branson To Invest In Elon Musk’s Hyperloop One

Hyperloop

Richard Branson is jumping on the Hyperloop train, the transport concept which could reduce the time it takes to travel between London and Edinburgh to just 50 minutes.

The British billionaire has announced an investment in Hyperloop One by Virgin Group, which will now be renamed Virgin Hyperloop One.

"This is an incredibly innovative and exciting new way to move people and things at airline speeds on the ground," the entrepreneur said in a blog post, describing Hyperloop as "the world's most revolutionary train service.

The Hyperloop concept was invented by Elon Musk, but Hyperloop One is a separate company and one of many working on the transport technology.

The idea is that pods will travel at hundreds of miles per hour through tubes under the ground, reducing hours-long journeys to mere minutes. Tests of Hyperloop One in the desert of Nevada have resulted in speeds of almost 200mph in recent months.

"Ever since our creation, Virgin has been known for disruption and investing in innovative companies," said Branson.

"From our airlines to our trains to our spaceline, we have long been passionate about innovation in transport too, especially the development of technology that could transform people’s lives. This is just the latest example. Importantly, Virgin Hyperloop One will be all-electric and the team is working on ensuing it is a responsible and sustainable form of transport too."

One of Hyperloop One's co-founders, head of engineering Josh Giegel, previously worked for Branson at his Virgin Galactic space venture. Shervin Pishevar, an entrepreneur and venture capital investor who has backed Uber and Airbnb, is a co-founder.

Virgin's investment is part of Hyperloop One's recently announced $85m series B round announced just a few weeks ago, bringing total funding to $245m. The exact size of Virgin's investment has not been disclosed.

Branson tweeted a picture of himself visting the Hyperloop One test centre.

ADVERTISEMENT

By City AM

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • Michael Sanchez on October 16 2017 said:
    Here in Hemet California we would love to have the Hyperloop. We have existing unused RR ROW, and much empty Commercial, Industrial and Residential land with up to date improvements including optical fiber networks. Our construction workers every morning starting at 3:15 AM start their commute headed thruout southern California. San Diego, Orange County, Los Angeles, San Bernardino, coastal, inland, mountain and desert regions. Our central location with close access to major warehousing and transportation hubs would make this a great showcase project. In addition the County has been collecting 1% of the regions taxes with little infrastructure given back to us. Politically this would be an easy win.

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News