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Hyperloop One lifts off

NEW YORK: August 02, 2017. Following a successful first test last month, the vacuum transport system built by Hyperloop One has now reached a speed of 192 miles per hour at its DevLoop track in the Nevada desert.

XP-1, the company's first-generation transport pod, accelerated for 300 meters above a track using magnetic levitation in a tube depressurized to equal air at 200,000 feet above sea level.

HYPERLOOP "This is the beginning, and the dawn of a new era of transportation," said company executive chairman and co-founder Shervin Pishevar. "We've reached historic speeds of 310 kilometers an hour, and we're excited to finally show the world the XP-1 going into the Hyperloop One tube."

Using electromagnetic propulsion and magnetic levitation, Hyperloop One plans to transport passengers and cargo inside a 28-feet pod made of structural aluminum and lightweight carbon fiber.

"We've proven that our technology works, and we're now ready to enter into discussions with partners, customers and governments around the world about the full commercialization of our Hyperloop technology," said company CEO Rob Lloyd. "We're excited about the prospects and the reception we've received from governments around the world to help solve their mass transportation and infrastructure challenges."

In October last year DP World became a "significant investor" in the company with a reported US$50 million for continued research and development.

The move followed a Hyperloop feasibility study published in September to link the city of Hunchun in northeast China with the Russian port of Zarubino.

Commissioned by Caspian Venture Capital, a US$300 million fund set up by Summa Group chairman Ziya Magomedov, the report said it would take four years and an estimated US$1.5-2.1 billion to build a 65 kilometer-long hyperloop line between the two cities.

In the same month, DP World and Summa signed an MoU to explore investment opportunities in ports, special economic zones and inland logistics facilities in the Russian Federation – including Vladivostok and Zarubino.

Summa chairman Magomedov and DP World chairman Sultan Ahmed bin Sulayem have since joined the Hyperloop One board.

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