Hyperloop One Gets 'Virgin' Name Following Branson Investment

Hyperloop One raised an $85 million round at a valuation that tops $700 million

Musk initially said he would leave construction of a hyperloop to others and would simply provide support for pod design through SpaceX's competition, but after starting a tunnel boring company, he made a decision to go ahead and build a hyperloop of his own.

Hyperloop One has been renamed Virgin Hyperloop One following an investment from Richard Branson.

The Hyperloop is a nascent transportation system that works by shooting pods through a vacuumed-sealed tube at speeds that experts say could reach 700 miles per hour.

The startup, which intends to create an ultrafast tube transportation system, was named Virgin Hyperloop One after the announcement of the strategic partnership that allows Branson to join the board of directors.

Its tracks use magnetic levitation and the pod glides at airline speeds for long distances.

Trains: Hyperloop floats above the surface of the tube.

From now on the company, which is currently making rapid progress on its test track in Nevada, will be rebranded as Virgin Hyperloop One.


Branson said he was "looking forward to helping turn this cutting edge engineering into a global passenger service", he added.

He said: "Projected journey times in the United Kingdom include Edinburgh to London in 50 minutes".

Several companies have been dabbling in hyperloop technology since Elon Musk released basic plans for the transit system several years ago, but none are as close to reality as Hyperloop One.

Before we can fly through vacuum tubes at almost the speed of sound, however, hyperloop technologies will need to advance quite a bit.

Virgin Group already has a hand in space travel through its Virgin Galactic spaceflight company, and now the group is investing in high-speed transportation. "We're incredibly excited about the technology behind Virgin Hyperloop One and the way it could transform passengers' lives".

"This is just the latest example".

Branson said the company was working on "exciting projects" around the world but no lines have been confirmed as yet.

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