It looks like the optimist dream project of one billionaire is being backed financially by another.
It was recently announced that Richard Branson will be making an investment in Hyperloop One, which is a startup that has the goal of building a high-speed futuristic transportation system. This idea was first created by the CEO of Tesla and SpaceX, Elon Musk.
The sum of investment being made by Richard Branson of Virgin Group has not been disclosed, as he looks set to create this exciting new global partnership.
There will now be rebranding of this new company, being now named Virgin Hyperloop One, with Branson getting a place at the table on the board.
Branson was suitably impressed when he visited the home of operations in Nevada, as well as having a meeting with the leadership team during the summer. He believes that this technology is ground-breaking and has the ability to drastically cut travel times and change transport as it is currently known.
A key part of Virgin’s plans regarding their investment into the project is to be able to deliver and transport both cargo and passengers via the network.
The idea was originally pitched back in 2013 by Elon Musk, using the example that there could be a huge vacuum tube that eventually could allow a person in New York to travel to Los Angeles in less than an hour.
The hyperloop technology is open-sourced, meaning that everyone is invited to get on board to try to further developments of these ideas.
