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

Award-winning science writer, 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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