Virgin Group has invested in Hyperloop One and rebranded the company Virgin Hyperloop One.
With Virgin Hyperloop One, passengers and cargo will be loaded into a pod and accelerate gradually via electric propulsion through a low-pressure tube.
Its tracks use magnetic levitation and the pod glides at airline speeds for long distances. Virgin Hyperloop One will also be all-electric.
The technology for Hyperloop One is currently in the early stages of commercialisation, after the successful completion of the first full-scale hyperloop systems test.
During phase two of testing, the duration of the longest test was 10.6 seconds – with a top speed of 310kmh.
The maximum distance travelled was 436m, with a peak acceleration of 1.48G (0-100km/h in 1.85 seconds).
As a result, projected journey times in the UK include Edinburgh to London in 50 minutes.
“We’re incredibly excited about the technology behind Virgin Hyperloop One and the way it could transform passengers’ lives,” said Virgin’s Richard Branson.