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Hyperloop One revs up funding with billionaire chair

Branson
Billionaire Richard Branson is Virgin Hyperloop One’s chairman. (Virgin Hyperloop One Photo)

Virgin Hyperloop One now officially has British billionaire Richard Branson as its chairman, along with $50 million more in funding for its rapid-transit development effort.

The company also reported that its test pod reached a top speed of 240 mph during its Phase 3 round of testing, which finished up last week. The tests took place at Virgin Hyperloop One’s 500-meter (1,640-foot) DevLoop test tunnel in Nevada.

Phase 3 tested the prototype pod’s electric motor, control system and magnetic levitation system, as well as the tunnel’s vacuum system and air lock.

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By Alan Boyle

Mastermind of Cosmic Log, contributing editor at GeekWire, 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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