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Hyperloop Company Forms JV with German Logistics Firm
Los Angeles-based Hyperloop Transportation Technologies Inc. has formed a joint venture with a German logistics firm to develop high-speed hyperloop technology to transport shipping containers.
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Los Angeles-based Hyperloop Transportation Technologies (HTT) Inc. has formed a joint venture with Germany’s Hamburger Hafen und Logistik AG to develop hyperloop technology to ship containers.
The initial $7 million feasibility study will include the construction of a 328-ft hyperloop test track at the Port of Hamburg. The partners envision using hyperloop tracks to transport containers from the port to inland shipping yards located miles away, which they say would improve efficiency and reduce traffic congestion.
HTT unveiled the design of its passenger pod, dubbed the Quintero One, in October. The company also is building a test track, and France and is conducting a feasibility study for a track that would run from Chicago to Cleveland.
Rival Virgin Hyperloop One, which is backed by British tycoon Richard Branson, has development agreements in several countries. The company has tested its system at 240 mph at a facility in Nevada.
Hyperloop technology promises to transport people and/or freight in pods levitated by magnets and moving through pressurized tubes at speeds as great as 700 mph. The concept was proposed by Tesla CEO Elon Musk five years ago.
A video about the Hamburg project can be viewed HERE.
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