Elon Musk, creator of SpaceX and Tesla Motors has been talking about a high-speed Hyperloop train for a while, claiming that it could theoretically move people through a narrow tube at a speed of 760 miles per hour, enough to shoot riders from San Francisco to Los Angeles in 30 minutes.
And now, Hyperloop is taking it a bit further. The company just announced that it has changed its name. From now on Hyperloop will be known as Hyperloop One. The company also announced an $80 million funding, as well as the preparation for its propulsion open-air test (POAT) that is going to be held today.
“The overwhelming response we’ve had already confirms what we’ve always known, that Hyperloop One is at the forefront of a movement to solve one of the planet’s most pressing problems,” said Hyperloop One co-founder and Executive Chairman Shervin Pishevar. “The brightest minds are coming together at the right time to eliminate the distances and borders that separate economies and cultures.”
Current, Hyperloop One owns more than 150 employees at a state-of-the-art innovation campus in Downtown Los Angeles along with a test and safety site in North Las Vegas, where the test will take place today.
In addition, the company announced its Hyperloop One Global Challenge to tap into the full power of the project. This opportunity will let the brightest mind around the world to contribute ideas for the best use of the Hyperloop One solutions in their regions. Deadline for the participants is September 15, 2016. An expert panel is going to choose the winners in March 2017. For the time being, let’s just hope that it will successfully pass today’s test at Los Angeles.
We hope that all this works out and provides a safe and convenient new method of transportation, which will usher in a new era of travel for everyone.