Hyperloop One gets an $80 million boost

Image: Hyperloop One test track

Components for a Hyperloop One test track are laid out in North Las Vegas. (Credit: Hyperloop One)

Forget Hyperloop Technologies: Now the company is called Hyperloop One, and it’s backed by $80 million in new investment from heavy hitters including Khosla Ventures, GE Ventures and the French high-speed rail company SNCF.

Today’s unveiling of the new name and new financing, as well as an international array of partners and a tuned-up business plan, is part of a fast-track plan for building high-speed tube transit systems – not only in California, but potentially in Scandinavia and Switzerland as well.

L.A.-based Hyperloop One is due to demonstrate its propulsion system on an open-air test track in North Las Vegas on Wednesday. It’s gearing up for full-scale trials in a 2-mile-long tube by the end of the year. It’s also planning a “Hyperloop One Global Challenge” for folks who want to propose transportation applications for the Hyperloop concept. (Deadline for entries is Sept. 15.)

This week’s revelations pick up the pace in a crowded commercial race, aimed at capitalizing on a rapid-transit concept laid out almost three years ago by Elon Musk, the billionaire entrepreneur behind SpaceX and Tesla Motors.

Get the full story on GeekWire.

About Alan Boyle

Aerospace and science editor for GeekWire, creator of Cosmic Log, author of "The Case for Pluto: How a Little Planet Made a Big Difference," president of the Council for the Advancement of Science Writing. Check out "About Alan Boyle" for more fun facts.
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