Hyperloop One Is in Talks With Persian Gulf Sovereign Wealth Funds

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Hyperloop technology was first conceptualized by SpaceX and Tesla founder Elon Musk, who envisioned high speed travel between cities in pods that travel through a low-pressure tube at up to 760 miles per hour. One of those agreements is with the government in Dubai with the idea of connecting the city to Abu Dhabi, the capital of the United Arab Emirates (UAE) in 12 minutes. One, a company looking to make Musk's dream come true, has just let the world get a peek at the hyperloop test track it's building in the Nevada desert.

The future is here; just like how "The Jetsons" and other sci-fi movie and fiction did it, the Nevada Hyperloop, a 500 meter edifice of impressive cloud-white vacuum, tube and magnet technologies in the Nevada Desert would make a supposed one-hour ride into minutes.

08 March 2017 Hyperloop One, the US tech start-up developing a high-speed transit system for the United Arab Emirates, on Tuesday said it aims to secure regulatory approval to allow it to start production towards the end of the decade, creating "dozens and dozens" of jobs in the country, its chief executive said on Tuesday.

To begin with, Hyperloop One has signed a deal with port operator DP World to conduct a feasibility study exploring the potential of the system to ferry cargo from container ships to a depot further inland. Public trials are expected to take place this year.

DevLoop, Hyperloop One's test site in Nevada, is 1,640 feet long and is massive in size, weighing over 2.2 million pounds.

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However, the cost of the system could be one barrier, with estimates of the UAE Hyperloop running to more than £52million per mile.

He describes the upcoming test as a "proof of technology" which will be followed by the company establishing a "proof of operations" where they build the Hyperloop in a candidate country, which will ultimately become part of a longer track.

"Tying together the Middle East region would produce greater virtual density, without congestion and pollution, spurring innovation, productivity, job growth and more powerful sharing of knowledge, labor and investment", said Lloyd in a statement.

While little additional information is available on Hyperloop One's nascent test track, Ars will be following for more details.

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