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PLAYA VISTA, CA: April 06, 2018. Hyperloop Transportation Technologies (HyperloopTT) is to set up an innovation lab in Contagem, Brazil supported by local and regional governments.

HYPERLOOP TTWith US$7.85 million in funding from private and public investors, the new HyperloopTT ‘XO Square’ will house a logistic research division and fabrication lab involving startups, universities, innovators, scientists, and governments.

"We set out to fix transportation nearly five years ago, yet there are many issues that need to be solved beyond building the Hyperloop. Ecosystems like XO Square are critical to helping us solve these challenges together," said Dirk Ahlborn, CEO of HyperloopTT. "If you have or are looking for logistics solutions, come to Brazil."

According to the mayor of Contagem his administration is taking advantage of the city's logistics capacity: "Contagem is known as the cradle of the state's industry and we are betting on a new industrial revolution in the metropolitan area of Belo Horizonte,” said Alex de Freita. “The effects of this will be very positive in the sense of generating wealth and knowledge and in the self-esteem of the population," he added.

"The State of Minas Gerais, and the municipality of Contagem in particular, are one of the most significant logistics distribution hubs for Brazil," said Bibop Gresta, chairman of HyperloopTT. "With a strategic geographic position, a high concentration of large industries, and a dedication to innovation, it is an ideal location for HyperloopTT's XO Square."

With 40 corporate and university partners, HyperloopTT employs more than 800 engineers and technologists in 52 multidisciplinary teams. The company has signed development agreements in Ohio, Slovakia, Abu Dhabi, the Czech Republic, France, Indonesia, Korea and Brazil.

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