none

RUSSIA PLEDGES SUPPORT FOR HYPERLOOP

18-07-2016
by 
in 

Russian President Vladimir Putin has promised to support the development of a Hyperloop train in his home country.

The Hyperloop is a high-speed transportation concept initially proposed by Elon Musk back in 2013. It is essentially a series of pods linked together that can run on a magnetically powered track at breakneck speeds.

A pledge of financial assistance occurred last month during a meeting between Putin and Shervin Peshivar at the head of state’s annual forum in St. Petersburg, reported Bloomberg.

Peshivar, a friend of Musk and notable technology investor, is the co-founder of Hyperloop One, which is one of the two startups racing to bring Musk’s futuristic project to life.

While Bloomberg didn’t note if a formal agreement was established between Peshivar and Putin, but Hyperloop One already has some substantial backing from Russia.

A majority of its $100 million in funding comes from Russian freight magnate Ziyavudin Magomedov while the Kremlin’s Russian Direct Investment Fund has a smaller but significant stake.

Also, the fledgling enterprise has two feasibility studies with Russia and other European countries where they are studying the potential routes that can take place between different cities and countries.

Hyperloop One will initially focus on using its technology to move freight, and the hope is that Hyperloop One can begin commercial operations by 2020.

Related news & editorials

  1. 20.07.2018
    20.07.2018
    by      In
    Treotham Automation offers a European made range of variable speed drive cables that have the additional benefit of a UV-stabilised outer sheath for greater reliability. Treoflex-UV EMC/VSD cables feature cross-linked XLPE core insulation to guarantee the maximum carrying capacity is achieved while... Read More
  2. 19.07.2018
    19.07.2018
    by      In
    Leuze electronic has come up with a novel process called Smart Process Gating (SPG) that it reckons makes it more economical, simpler and safer to implement muting processes.
    When safety sensors such as light curtains are used to detect unauthorised intrusions in applications such as intralogistics... Read More
  3. 19.07.2018
    19.07.2018
    by      In
    RS Components is expanding the reach of its RS Pro brand with the addition of a line of switch-mode power supplies. The range comprises more than 80 chassis-mount supplies with power ratings from 15 to 1000W and single DC outputs from 5 to 48V.
    The outputs are regulated within ±10%, with ripple and... Read More
  4. 18.07.2018
    18.07.2018
    by      In
    Available now from Control Logic, the versatile Tru-Trac encoder features a novel adjustable spring-tensioned mounting with the option of either a rubber or aluminium wheel and can be used for tracking velocity, position and distance over a wide variety of surfaces.
    The preassembled Tru-Trac... Read More