Today's Hard|Forum Post
Today's Hard|Forum Post

Thursday October 12, 2017

Hyperloop One Rebrands as "Virgin Hyperloop One"

Following an investment by billionaire British investor and entrepreneur Richard Branson, Hypleroop One is rebranding itself as Virgin Hyperloop One: the company’s focus is on a passenger and mixed-use cargo service. They raised $85 million in new funding last month, and that includes the investment from Virgin. Branson refused to provide numbers.

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Breaking ground on a commercial hyperloop in two to four years is possible if "governments move quickly," Branson said in a "Squawk Box" interview. So far, no government has approved a plan for a hyperloop system. The Virgin founder also said that building a hyperloop tube above or below ground is "cheaper" and "faster" than a traditional rail network. "As a train owner, " Branson said, "I felt this is something that I want to be able to operate. At the moment our trains are limited to 125 miles an hour." His sprawling Virgin Group empire includes a train network in the U.K., as well as airlines and a business to take tourists into space.