After Richard Branson Investment, It's Now 'Virgin Hyperloop One'

After Richard Branson Investment, It's Now 'Virgin Hyperloop One'

The Virgin tycoon revealed he has invested in a company called Hyperloop One, which is developing the technology at a site outside Las Vegas.

Branson, who described the endeavor as the world's most revolutionary train service, said that as a train owner (his company owns a train network in the United Kingdom in addition to an airline and other ventures), he felt this is something he wants to be able to operate.

"Passengers and cargo will be loaded into a pod, and accelerate gradually via electric propulsion through a low-pressure tube", Branson said.

Right now it appears that Hyperloop One's business will remain on track with the rebrand, and it's probably a good thing to have a close billionaire friend with a passion for future modes of transport when you're trying to build a brand new type of high-speed ground transit.

First pitched in 2013 by Tesla CEO Elon Musk, the ambitious idea for a hyperloop system (Musk himself is considering building a hyperloop of his own) involves a series of tubes that transport pods using magnetic levitation in a vacuum-sealed environment.

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From now on the company, which is currently making rapid progress on its test track in Nevada, will be rebranded as Virgin Hyperloop One.

"I was very impressed and now look forward to helping turn this cutting-edge engineering into a global passenger service", Branson said. As an example of the high-speed transportation offered by Hyperloop, the project expects the travel time from Edinburgh to London to be 50 minutes.

Branson said: "Ever since our creation, Virgin has been known for disruption and investing in innovative companies".

Before we can fly through vacuum tubes at almost the speed of sound, however, hyperloop technologies will need to advance quite a bit. "We're incredibly excited about the technology behind Virgin Hyperloop One and the way it could transform passengers' lives".

One of the leading hyperloop companies just got an enormous boost in the form of funding from Richard Branson's Virgin Group. Branson attended and said he saw "firsthand the exciting technology being tested".