'Hyperloop One' Is Now 'Virgin Hyperloop One' After an Investment From Richard Branson

Thursday, 12 October 2017 - 1:38PM
Technology
Thursday, 12 October 2017 - 1:38PM
'Hyperloop One' Is Now 'Virgin Hyperloop One' After an Investment From Richard Branson
Virgin Hyperloop One

Building something from scratch isn't the only way to get your name on the building. You can also take the "rich alumnus" approach and write a really big check, which is exactly what Virgin Group did for the Hyperloop One and their high-speed train project.

Virgin Group announced its investment in the transportation startup this week via a blog post by founder Richard Branson. Now rebranded as Virgin Hyperloop One, the company will continue with its efforts to develop and make commercial a network of high-speed passenger pods.

Only, now it will have the support of a multi-billion dollar company which already has its feet in everything from travel and hospitality, to media and aerospace. The size of the investment has not been disclosed, but it's safe to assume that there were some commas involved in whatever number they agreed on.




Branson writes:

Opening quote
"Ever since our creation, Virgin has been known for disruption and investing in innovative companies. From our airlines to our trains to our spaceline, we have long been passionate about innovation in transport too, especially the development of technology that could transform people's lives. This is just the latest example. Importantly, Virgin Hyperloop One will be all-electric and the team is working on ensuing it is a responsible and sustainable form of transport too."
Closing quote


Branson also praised the Virgin Hyperloop One team, including Executive Chairman Shervin Pishevar and President of Engineering Josh Giegel, both of whom previously worked for him at Virgin Galactic (which is unsurprising since, again, Branson's companies are already everywhere).

New name, same great taste? Time will tell if Virgin Group's investment comes with more strings than Branson is letting on, but either way it's a good look for the company formerly known as Hyperloop One.



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