Hyperloop One aims for full-scale test with new $50 million financing
Los Angeles-based company Hyperloop One, which is developing technology for a futuristic transit system, said it had raised an additional $50 million as it prepares for a full-scale test of a Hyperloop system in the first quarter of 2017.
A Hyperloop involves using magnets to levitate pods inside an airless tube, creating conditions in which the floating pods could shuttle people and cargo at speeds of up to 750 mph (1,200 kph).
The concept originated in a paper by Tesla Motors Inc Chief Executive Elon Musk in 2013, who envisioned it whisking passengers from Los Angeles to San Francisco in... read more
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