Hyperloop One Is Now 'Virgin Hyperloop One' Thanks to Richard Branson's Investment

Branson said that at the end of their ten-day trip in January the Obamas treated his staff to a thank you party

Branson said that at the end of their ten-day trip in January the Obamas treated his staff to a thank you party

Hyperloop One held its latest test run of a transport pod in a tube in late July in the Nevada desert. As part of the deal the company will be renamed Virgin Hyperloop One and enter Sir Richard's Virgin Group umbrella.

In a blog post that describes the transport initiative as "the world's most revolutionary train service", Branson says Hyperloop is "an incredibly innovative and exciting new way to move people and things at airline speeds on the ground".

Hyperloop One is one of a handful of firms developing technologies whereby passengers and cargo would be loaded into pods that travel at high speeds through low-friction tubes above or below ground. The air-tight tubes need to be closer to true vacuum, the maglev acceleration needs to increase which will require more power, and protecting hyperloop tracks from environmental factors such as earthquakes is still a major concern.

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He said: "Projected journey times in the United Kingdom include Edinburgh to London in 50 minutes".

Early tests of the technology have achieved speeds around 200 miles per hour, including SpaceX's hyperloop pod competition and Hyperloop One's own test runs on a track in the Nevada desert that have hit a top speed of 192 miles per hour.

Branson and his company, Virgin Group, are investing an undisclosed sum in the startup to kick off a new global partnership. "We have always been passionate about innovation in transport too, especially the development of technology that could transform people's lives", the statement reads.

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But in order to build an operational system in the short timespan Hyperloop wants to achieve, it not only has to prove the technology is capable of safely reaching the super-fast speeds Hyperloop One proclaims it can hit.

The Virgin founder also noted his commitment to ensuring Hyperloop One remains all-electric, and "is a responsible and sustainable form of transport".

Meanwhile, Musk is now working part-time on a similar project, called The Boring Company.

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