Hyperloop systems a step closer to reality with progress on legislation
Saudi Arabia issued Virgin Hyperloop One with a trade licence after a national feasibility study
Hyperloop, the futuristic, high-speed transport system for people and goods, is a step closer to reality as the US makes progress on the regulation of the super-fast trains.
The US House of Representatives passed legislation calling for regulatory framework for the safe use of hyperloop systems, a move praised by Dubai ports operator DP World, the largest investor in Virgin Hyperloop.
The Non-Traditional and Emerging Transportation Technology Council in the US is expected to issue guidance in the next six months to set out a clear regulatory framework for the industry.
“The decision is a huge vote of confidence that we are all on the right side of history,” Sultan bin Sulayem, chairman of DP World and Virgin Hyperloop, said on Wednesday.
“The move, which brings hyperloop systems one major step closer to reality, validates our decision to take this technology seriously and support this innovation.”
Virgin Hyperloop has held discussions with governments in the UAE, Saudi Arabia and India.
In March, the kingdom issued Virgin Hyperloop One with a trade licence after a national feasibility study on the use of the technology to transport people and goods.
Elon Musk came up with the idea for hyperloop technology in 2013, and challenged engineers to develop a sustainable, high-speed transportation method using low-pressure tube trains.
Two Los Angeles companies, Virgin Hyperloop and Hyperloop Transportation Technologies, are now racing to bring the concept to life.
Virgin Hyperloop has raised more than $400 million (Dh1.5 billion) in investment, including funds from DP World.
“The inclusion of hyperloop transportation in this legislation is a great moment in history for us and for DP World,” Jay Walder, Virgin Hyperloop’s chief executive said.
Last month, Abu Dhabi’s Mohamed bin Zayed University of Artificial Intelligence signed a preliminary agreement with Virgin Hyperloop to collaborate on research to develop the futuristic transport system.
Updated: July 16, 2020 12:49 AM