Virgin Hyperloop One's System Just Broke Elon Musk's Speed Record

Elon Musk's High Speed Train Concept Company Hyperloop One Holds First Public Test Run

"The $50 million investment was made by existing Virgin Hyperloop One investors Caspian Venture Capital and DP World who have been consistently supportive investors and have backed the company in each of its funding rounds", the report said.

"The recent investment by our partners Caspian Venture Capital and DP World sets up the company to pursue opportunities in key markets in the Middle East, Europe and Russian Federation as it develops game-changing and innovative passenger and cargo ground transport systems", Branson said in a statement. It was also revealed that the company has had an additional $50m in new finance poured into its coffers, making a total of $295m (£220.6m) in investment since the project's founding in 2014.

Mr Lloyd told The National in October it would begin rolling out the technology in 2019, with an initial testing at production level in 2021.

The company says the technology will allow train travel between NY and Washington in less than 30 minutes. Russian Federation and Middle East are two of the most likely places for the first commercial application of Virgin Hyperloop One technology, the source told CNBC.

"We intend to be part of any new developments in global transport that revolutionise the way trade is conducted and connect global markets".




Virgin Hyperloop One officials worked to focus interest on the company's successes on Monday. Pishevar officially resigned from Sherpa Capital last week.

The newswire also said the company had been the target of a takeover offer from Caspian Venture Capital's owner Ziyavudin Magomedov, but that the approach had been turned down by the board.

The company had earlier rebranded itself as Virgin Hyperloop One following an investment from Virgin Group in October this year.

He assumes the leadership position on Virgin Hyperloop One's board as Shervin Pishevar stepped away from his company in the wake of allegations of sexual harassment and assault.

The announcement comes two months after Branson partnered with the company, which is the first in the world to build a working Hyperloop prototype based partially on SpaceX CEO Elon Musk's vision for a clean-energy, high-speed rail line.

Related news:

Hot News

isis-killer-beheading-video-story-top Humana Buys Kindred Health
Dec 20, 2017 - 00:40
Over time, Humana will have the option of buying the remaining ownership in the company, which will be called Kindred at Home. Humana said the deal will help it manage chronic conditions, keep costs down and improve health.

isis-killer-beheading-video-story-top Google's Chrome ad blocker is coming, but may be ineffectual
Dec 20, 2017 - 00:39
After all , since Google relies on ads to make a lot of its revenue, that would be an ill-advised move. Site owners can then submit their sites for a review after any violating ads have been removed.

Microsoft removes Google's Chrome installer from the Windows Store
Dec 20, 2017 - 00:37
It opens up the Chrome download page so the method of getting Chrome on your Windows 10 PC remains essentially the same as before. The installer app appeared to be completely official, linking to Google's other applications in the Microsoft store for example.

isis-killer-beheading-video-story-top Boy, 5, Calls 911 To Help Police Make Arrest
Dec 20, 2017 - 00:37
Byram's police chief, Luke Thompson, encouraged him to return when he was 21 to apply to become an official part of the force. Tylon Pittman didn't want the Grinch stealing anybody else's Christmas, so he called 911.

isis-killer-beheading-video-story-top Who Is Track Palin? Sarah Palin's Son Arrested For Assault, Burglary
Dec 19, 2017 - 03:43
He pleaded guilty to possessing a firearm while intoxicated, and took a plea deal that resulted in other charges being dismissed. Todd told cops that he had armed himself with a pistol and was prepared to "protect his family".

isis-killer-beheading-video-story-top Sony smartphone with Snapdragon 845 SoC, dual-camera leaked
Dec 19, 2017 - 03:43
Reportedly, the device may have a micro USB instead of USB Type-C, however, there is a possibility that the leak isn't accurate. After what's claimed to be a spec sheet leaked on Reddit , it appears that the H8216 will be the company's new flagship.

isis-killer-beheading-video-story-top Facebook Admits Its Use Can Affect Mental Health... Suggests Using It More
Dec 19, 2017 - 03:42
Palihapitiya on Thursday revised his view, writing in a Facebook post that the service "is a force for good in the world". And just a few days ago, an ex-Facebook executive blasted the company saying it was "destroying how society works".

isis-killer-beheading-video-story-top NASCAR Couple Danica Patrick and Ricky Stenhouse, Jr. Split
Dec 19, 2017 - 03:42
She has competed full time in the NASCAR Cup Series the last five years following a transition from IndyCar. Before her relationship with Stenhouse, Patrick was married to Paul Hospenthal for seven years.

isis-killer-beheading-video-story-top Rahul Gandhi took a dig at Saffron BJP
Dec 19, 2017 - 03:40
With this, 47 year old Rahul Gandhi becomes the sixth leader from the Nehru-Gandhi family to occupy the top post in the party. Once fire breaks out it is hard to douse it.

isis-killer-beheading-video-story-top Prince Harry and Meghan Markle name the date
Dec 18, 2017 - 00:24
That will require passing an eclectic citizenship test on British life and history that is famous for tripping up applicants. The royal family will also pay for the festivities.

isis-killer-beheading-video-story-top LeBron James annoyed hot mic picked up conversation with Lonzo Ball
Dec 18, 2017 - 00:21
The Cleveland Cavaliers are averaging 111.3 points on 48.3 percent shooting and allowing 107.6 points on 46.5 percent shooting. Entering the night, he was averaging almost 36 points per 36 minutes in the last five minutes of games within five points.

isis-killer-beheading-video-story-top Rose McGowan Drags Actresses Who Plan to Wear Black at Golden Globes
Dec 18, 2017 - 00:21
McGowan certainly did not mince words with her blunt attack on the women who will partake in the protest at the Golden Globes on January 7, 2018.

isis-killer-beheading-video-story-top Salah, Coutinho Score As Liverpool Bounce Back With Big Win Vs Bournemouth
Dec 18, 2017 - 00:20
Firmino nearly doubled that lead with an effort which deflected wide after excellent work by the ever-dangerous Salah. Salah terrorised Charlie Daniels for the third time in the half, customarily cut inside and fired low past Begovic.

isis-killer-beheading-video-story-top Arsenal vs Newcastle: Michael Owen delivers Premier League prediction
Dec 18, 2017 - 00:19
They have hit a blip in recent weeks but that's nothing compared to Newcastle . Benitez is prepared to take "risks" in the transfer market.

isis-killer-beheading-video-story-top CDC given list of banned words, including "fetus" and "diversity"
Dec 17, 2017 - 00:40
The OMB has jurisdiction over the proposals, but it was not immediately clear whether anyone at the OMB had specifically requested that those words and phrases be banned.