Two months back, the Virgin group that’s headed by Richard Branson, made a huge investment in the Los-Angeles based start-up Hyperloop One, which is looking forward bringing transportation revolution into reality, after Elon Musk’s idea. As an outcome of the investment made Richard Branson gained a seat among the board of directors and the company is set to rebrand itself as the Virgin Hyperloop One.
It is in this week that the Virgin Hyperloop One managed to made it to the highlights in the news three times. At first, in its most recent testing protocols, it announced about the speed record that it made to 240 miles/hour. This almost means speed of 20mph and that’s faster than the speed, which was claimed by Space-X previously this year. The recent round of testing was administered within the 1600 foot long test-track of the company that has been depressurized for triggering the surroundings at 200,000 feet above the earth level. Omitting air from the chamber, this Hyperloop pad travels in minimized wind resistance, which makes it possible in going faster with minimum energy.
Secondly, this week the company also announced that Branson will step forward in becoming the non-executive chair person of the board after the ex-chairman and co-founder Shervin Pishevar, who was shifted aside due to charges of sexual-misconduct that were marked against him.
Third, regardless those charges, Axios reported that the company had made an additional in funding of $50 million from the DP World of Dubai and Caspian venture Capital of Russia. It has been dangerously flanking close to ruining, but these investments of the new funds will help them continue operating. In a press release, Branson says that he is elevated by the recent developments at the Virgin Hyperloop One and feels delighted to be its new chairman.
The CEO of Virgin Hyperloop One, Rob Lloyd said that he sees highly strong interest from the leaders of the world those are globally looking in embracing Hyperloop for addressing complex challenges in infrastructures. Their focus on 2018 will be on escalating commercial deals for both the “cargo projects” and passengers.