• 18 hours Saudi Fund Buys Stake in Hollywood Talent Agency
  • 19 hours G20 Rejects Calls for Cryptocurrency Regulation
  • 24 hours Putin Is A New Russian Stalin - Victory For The Next 6 Years
  • 15 hours Trump Bans Venezuelan National Cryptocurrency
  • 4 days Is $71 As Good As It Gets For Oil Bulls This Year?
  • 15 hours Country With Biggest Oil Reserves Biggest Threat to World Economy
  • 10 hours Self-Driving Cars' First Fatality
  • 19 hours Africa Is The New Land Of Opportunity For Investors
  • 41 mins Flying Taxis In New Zealand - Very Soon?!
  • 18 hours Volkswagen To Announce $340 Million Tennessee Investment To Build New SUV For U.S. Market
  • 4 days HAPPY RIG COUNT DAY!!
  • 1 hour Why do Driller stocks move with the daily price of oil?
  • 22 hours Miners against Government: Largest Miners In Congo Quit Chamber Of Commerce Amid Growing Tax Dispute
  • 15 hours Is Trump Harming Oil Industry?
  • 4 days Spotify to file $1 billion IPO
  • 15 hours Tillerson just sacked ... how will market react?
Alt Text

The Latest Challenger To Lithium-Ion Batteries

A new breakthrough in battery…

Alt Text

Audi Unveils Its Flying Smart-Car

The Geneva International Motor Show…

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:

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