Hyperloop Transportation Technologies (HyperloopTT) and the Northeast Ohio Areawide Coordinating Agency have published key results from the Great Lakes Hyperloop Feasibility Study, which was conducted in collaboration with transportation planning firm Transportation Economics & Management Systems. The full study will be released next month,
Key findings include that the operational costs would require no subsidies, travel times would be reduced for hours to minutes and that the network would create more than 900,000 jobs created over twenty-five years.
The results of the study, conducted over 1.5 years, involved close collaborations with both Illinois and Pennsylvania. In addition, over 80 public and private organisations provided support and resources for the study.
"The results of the study have surpassed even our most optimistic considerations," said HyperloopTT founder and chairman, Dirk Ahlborn. "Working closely with our government and industry partners we have shown that Hyperloop is the high-speed transportation system of choice for the 21st century."
"The Great Lakes Hyperloop Feasibility Study is the most comprehensive study of a Hyperloop system ever conducted," said Andres De Leon, CEO of Hyperloop TT. "The study confirms that the HyperloopTT system is faster, less expensive, and more sustainable than alternatives."
"Hyperloop will revolutionise and redefine the way we travel, work and live. We are thrilled to have the opportunity to share the resulting benefits of the feasibility study that will provide enormous impact and value to our region," said Grace Gallucci, head of NOACA.
"Clearly the project shows very good merit and is, in fact, the first intercity passenger ground transportation system to show a positive rate of return that TEMS has assessed in the last 30 years," said Alexander Metcalf, president of Transportation Economics & Management Systems.