• 2 minutes Oil Price Could Fall To $30 If Global Deal Not Extended
  • 5 minutes Middle East on brink: Oil tankers attacked off Oman
  • 8 minutes CNN:America's oil boom will break more records this year. OPEC is stuck in retreat
  • 2 mins Iran downs US drone. No military response . . Just Destroy their Economy Completely. Can Senator Kerry be tried for aiding enemy ?
  • 6 hours Emissions Need To Be Halved To Avoid 3C Warming
  • 1 hour The Pope: "Climate change ... doomsday predictions can no longer be met with irony or disdain."
  • 1 hour Coal Boom in Asia is Real and a Long Trend
  • 4 hours Here We Go: New York Lawmakers Pass Aggressive Law To Fight Climate Change
  • 5 hours Summit in Pyongyang: China's Xi Says World Hopes North Korea-U.S. Talks Can Succeed
  • 15 hours Solar Panels at 26 cents per watt
  • 6 hours Pioneer CEO Said U.S. Oil Production would be up to 15 mm bbls/day NOW if we had the pipelines. Permian pipelines STARTING Q3
  • 1 hour Huge UK Gas Discovery
  • 1 day Trudeau approves Trans Mountain Pipeline
  • 21 hours Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 1 day Hormuz and surrounding waters: Energy Threats to the World: Oil, LNG, shipping markets digest new risks after Strait of Hormuz attack
  • 21 hours The Magic and Wonders of US Shale Supply: Keeping energy price shock minimised: US oil supply keeping lid on prices despite global risks: IEA chief
  • 19 hours Ireland To Ban New Petrol And Diesel Vehicles From 2030
  • 18 hours US Shale Drilling lacks regulatory body.
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

Trending Discussions

Richard Branson To Invest In Elon Musk’s Hyperloop One

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.

By City AM

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


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





Oilprice - The No. 1 Source for Oil & Energy News