Branson is also joining Hyperloop One’s board of directors of the company, which will be renamed Virgin Hyperloop One over the coming months.
The aim of Hyperloop One and other teams working on the concept is to develop a transportation system that will enable passengers and cargo to be loaded into a pod, which will accelerate gradually via electric propulsion through a low-pressure tube. The pod will lift above the track using magnetic levitation and glide at airline speeds for long distances due to ultra-low aerodynamic drag.
Virgin and Hyperloop One will be developing a global strategic partnership focused on passenger and mixed-use cargo services, in addition to the creation of a new passenger division. Virgin will not be the only operator. The company plans to work with a variety of operators globally.
“We can’t think of a better person than Richard or a better brand than Virgin to be our true partner in the continued quest to make our moonshot idea a reality,” said the announcement from Hyperloop One.