Richard Branson invests in the hyperloop

Posted October 13, 2017

Financial details weren't disclosed although one would assume it's significant considering Hyperloop One is changing its name to Virgin Hyperloop One.

"Virgin is an iconic brand, and having Richard as an ally will help strengthen our mission to spread Hyperloop One throughout the world", Hyperloop One co-founder Shervin Pishevar said in a statement.

Virgin Group has invested in Hyperloop One and rebranded the company Virgin Hyperloop One.

Sir Richard has led an $85m (£65m) investment in Hyperloop One, a California-based company that is the first to successfully test the high-speed magnetic levitation technology.

Trains: Hyperloop floats above the surface of the tube. Branson noted in a blog post that he also visited Hyperloop One earlier this summer to view its technology first-hand, at the Hyperloop One DevLoop test track site in Nevada outside Los Vegas.

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"Ever since our creation, Virgin has been known for disruption and investing in innovative companies". "From our airlines to our trains to our spaceline, we have always been passionate about innovation in transport too, especially the development of technology that could transform people's lives". As an example of the high-speed transportation offered by Hyperloop, the project expects the travel time from Edinburgh to London to be 50 minutes.

Branson said he was "looking forward to helping turn this cutting edge engineering into a global passenger service", he added.

But in order to build an operational system in the short timespan Hyperloop wants to achieve, it not only has to prove the technology is capable of safely reaching the super-fast speeds Hyperloop One proclaims it can hit.

The customer experience of the pod is something that we definitely want to lean on Richard's and the Virgin Group's experience to create an experience when you walk into a hyperloop pod.

Branson said the company was working on "exciting projects" around the world but no lines have been confirmed as yet.