Hyperloop One becomes 'Virgin Hyperloop One' with new investment

Richard Branson's Virgin Group has invested in Hyperloop One
Credit
Virgin Hyperloop One

Importantly, Virgin Hyperloop One will be all-electric and the team is working on ensuing it is a responsible and sustainable form of transport too.

The British billionaire has announced an investment in Hyperloop One by Virgin Group, which will now be renamed Virgin Hyperloop One. As part of deal, the startup will rebrand as Virgin Hyperloop One and Branson will join the board. In August this year Hyperloop One successfully managed to fire a pod at 192mph.

Its tracks use magnetic levitation and the pod glides at airline speeds for long distances.

But Hyperloop One has not been without controversy.

He said that the operation was only in the "early stages" of commercial development, but that he was looking forward to creating a global passenger service.

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Several companies are now exploring the market, including Northeast Maglev, Hyperloop One and Hyperloop Transportation Technologies.

Neither has had a smooth ride, however. The company was embroiled in a messy lawsuit past year between its two founders. Brogan has since started a third Hyperloop company, Arrivo. In July, Musk - who isn't involved in Hyperloop One - revealed on Twitter that he'd received "verbal government approval" to build a hyperloop capable of ferrying passengers between NY and Washington in 29 minutes.

Musk's hyperloop involvement is for now limited to potentially building the tunnels with his latest startup - The Boring Company.

Speaking in July, after the completion of one of Hyperloop One's technology tests, Philippa Oldham, head of transport and manufacturing at the Institution of Mechanical Engineers said "As an engineer, there still seems to be some gaps in the information regarding the risks and safety of the system itself".

She added: "As the distance of the trials increase there will be many engineering problems to solve including that of managing track alignment".

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