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Hyperloop One is an American company in Los Angeles, California, that is working to commercialize the Hyperloop for moving passengers and/or cargo at airline speeds at a fraction of the cost of air travel. The concept of Hyperloop transportation was introduced and named by Elon Musk in August 2013, although he is not involved with Hyperloop One or any other company developing Hyperloop.[3]

Hyperloop One
Private
Industry High-speed rail
Founded June 2014[1]
Headquarters Los Angeles, Calif.
Key people
  • Rob Lloyd (CEO)
  • Josh Giegel (Co-founder and President of Engineering)
  • Shervin Pishevar (Co-founder and Executive Chairman)
Number of employees
280 (Q2 2017)[2]
Website hyperloop-one.com

The Hyperloop uses a linear electric motor to accelerate and decelerate an electromagnetically levitated pod through a low-pressure tube. The vehicle will glide silently for miles at speeds up to 670 mph (1080 km/h) with no turbulence. The system is designed to be entirely autonomous, quiet, direct-to-destination, and on-demand. Additionally, as Hyperloop is built on columns or tunneled underground, it eliminates the dangers of at-grade crossings and requires much smaller rights of way than high-speed rail or a highway.[4] Hyperloop One has made substantive technical changes to Musk's initial proposal and chose not to pursue the San Francisco-to-Los Angeles route that Musk envisioned in his 2013 white paper.

The company has raised $245 million[5] and demonstrated a form of propulsion technology in May 2016 at its test site north of Las Vegas[6] Hyperloop One has completed a 500-meter Development Loop (DevLoop) in North Las Vegas[7] and in May 2017, held its first full-scale Hyperloop test, becoming the first company in the world to do so. The test combined Hyperloop components including vacuum, propulsion, levitation, sled, control systems, tube, and structures.[8]

Hyperloop One is currently developing passenger and cargo system routes in the United States, Canada, Finland, Sweden, the Netherlands, and the United Arab Emirates. It is also in early talks with Indian government to build one in India. Its publicly stated goal is to deliver a fully operational Hyperloop system by 2021.[9][10]

Contents

HistoryEdit

The idea for Hyperloop One emerged from a conversation between Elon Musk and Silicon Valley investor Shervin Pishevar when they were flying together to Cuba on a humanitarian mission in January 2012. Pishevar asked Musk to elaborate on his Hyperloop idea, which the industrialist had been mulling over for some time. Pishevar suggested using it for cargo, an idea Musk hadn’t considered, but he did say he was considering open-sourcing the concept because he was too busy running SpaceX and Tesla. Pishevar pushed Musk to publish his ideas about the Hyperloop, so that Pishevar could study them.[11]

In August 2013, Musk released the Hyperloop Alpha white paper,[12] generating widespread attention and enthusiasm. In the months that followed Pishevar incorporated Hyperloop Technologies and recruited the first board members, including David O. Sacks, Jim Messina and Joe Lonsdale. Pishevar also recruited a cofounder, a former SpaceX engineer named Brogan Bambrogan. Hyperloop Technologies set up shop in Bambrogan’s garage in Los Angeles in November 2014. By January 2015, Hyperloop Tech had raised $9 million in venture capital from Pishevar's Sherpa Capital and investors such as Formation 8 and Zhen Fund, and was able to move into its current campus in the Los Angeles Arts District. FORBES magazine put Hyperloop Tech on its February 2015 cover, landing the startup lots of fresh recruits and new investor interest. In June 2015, Pishevar recruited former Cisco president Rob Lloyd as an investor and, eventually, the company's CEO.[13][14]

Between June 2015 and December 2015, the company continued to hire engineers and expand its downtown campus (now up to 75,000 square feet). In December 2015, the renamed Hyperloop One announced it would hold an open-air propulsion test at a new Test and Safety Site in Nevada. At the time, the company disclosed it had raised $37 million in financing to date and was completing a Series B round of $80m,[15] which they closed on in May 2016.[16] In October 2016, Hyperloop One announced that it had raised another $50 million, led by an investment from DP World.[17]

The propulsion open-air test, or POAT, was successfully held in Nevada on May 9, 2016. The POAT sled accelerated to 134 mph (216 km/h) in 2.3 seconds, representing a crucial proof of concept.[18] At the time Hyperloop One announced it had secured partnerships with global engineering and design firms such as AECOM, SYSTRA, Arup, Deutsche Bahn, General Electric, and Bjarke Ingels.[16]

In June 2016 the company announced a memorandum of understanding with the Summa Group and the Russian Government to construct a Hyperloop in Moscow and has since completed two feasibility studies – one in Moscow and one in the Far East.[19]

In late July 2016, Hyperloop One opened a 100,000 sq ft (9,300 m2) tooling and machine shop called Metalworks in North Las Vegas, Nevada, where it fabricates the parts for its nearby test track, called Devloop.[20][21]

In August 2016, Hyperloop One announced a deal with the world's third largest ports operator, DP World, to develop a cargo offloader system at DP World's flagship port of Jebel Ali in Dubai.[22] Hyperloop One also broke ground on DevLoop, the world's first full-scale Hyperloop test track.

On November 8, 2016, Hyperloop One announced it had signed a deal with Dubai’s Roads and Transport Authority (RTA) to conduct a number of feasibility studies on potential passenger and cargo Hyperloop routes in the United Arab Emirates. Hyperloop One also released its first system designs in collaboration with the Bjarke Ingels Group.[23]

Just after midnight on May 12, 2017, Hyperloop One made history with its first full-scale Hyperloop test, becoming the first company in the world to test a full-scale Hyperloop.[8] The system-wide test integrated Hyperloop components including vacuum, propulsion, levitation, sled, control systems, tube, and structures.

On July 12, 2017, the company revealed images of its first generation pod prototype, which will be used at the DevLoop test site in Nevada to test aerodynamics.[24]

On August 2, 2017, Hyperloop One successfully tested its XP-1 passenger pod, reaching speeds of up to 192 mph (309 km/h). It traveled for just over 980 ft (300 m) before the brakes kicked in and it rolled to a stop.[25]

Hyperloop One and the Virgin Group develop a strategic partnership to form Virgin Hyperloop One. With this partnership, Richard Branson joined the board of directors and Richard Branson and Virgin Group invested in Hyperloop One. The global strategic partnership, announced on October 12, 2017, will focus on passenger and mixed-use cargo service in addition to the creation of a new passenger division.[26]

FundingEdit

Hyperloop One has raised $245 million to date. Its investors include Sherpa Capital, Formation 8, 137 Ventures,[27] DP World,[28] Khosla Ventures,[27] Caspian Venture Capital, Fast Digital,[27] Western Technology Investment,[27] Zhen Fund, GE Ventures,[27] and SNCF.[27]

ManagementEdit

The CEO of Hyperloop One is Rob Lloyd, former Cisco President of Sales and Development.[29] The co-founder and President of Engineering is Josh Giegel. Since 2016, the chief financial advisor is Brent Callinicos, the former CFO of Uber Technologies.[citation needed]

The board of directors [30] include co-founder Shervin Pishevar,[29] Joe Lonsdale, Justin Fishner-Wolfson, Jim Messina, Peter Diamandis, Sultan Ahmed Bin Sulayem, Ziyavudin Magomedov, Rob Lloyd, Josh Giegel, Richard Branson and Emily White as a board observer and strategic adviser.

Hyperloop One Global ChallengeEdit

In 2016, Hyperloop One launched its Hyperloop One Global Challenge to find the locations for, and develop and construct, the world’s first Hyperloop networks.[31] In January 2017, Hyperloop One announced the 35 semifinalist routes (spread over 17 countries) in the Hyperloop One Global Challenge.[32] Hyperloop One held a series of events showcasing the semifinalists, Vision for India in February,[33] Vision for America in April[34] and Vision for Europe in June.[35] On September 14, 2017, Hyperloop One announced the 10 winners for the Hyperloop One Global Challenge. The countries with teams that won include the US, UK, Canada, Mexico, and India. The winners will now be invited to work closely with Hyperloop One on viability studies to try and bring their respective loops from proposal to reality.[36]

The ten winning routes that were selected are:[37]

LawsuitsEdit

In July 2016, the CTO and co-founder Brogan BamBrogan left the company,[38] later filing a lawsuit with three other former employees alleging breach of fiduciary duty and misuse of corporate resources.[39] On July 19, 2016, Hyperloop One filed a countersuit against the four former employees, alleging they staged a failed coup of the company, in the process breaching agreements around fiduciary duty, non-competes, proprietary information and non-disparagement, as well as intentional interference with contractual relations.[40] On November 18, 2016, both parties agreed to settle the lawsuit. Terms were confidential and not disclosed.[41] BamBrogan and other former Hyperloop One and SpaceX employees went on to found Arrivo, a competing hyperloop company.[42]

ReferencesEdit

  1. ^ "Fact Sheet And FAQ". hyperloop | one. Retrieved September 22, 2017. 
  2. ^ Lloyd, Robert. "Hyperloop One CEO Says 'We Can Do This in the U.S.'". YouTube. Bloomberg Technology. 
  3. ^ "Hyperloop". SpaceX. Space Exploration Technologies. Retrieved June 15, 2015. 
  4. ^ "Hyperloop One web site". 
  5. ^ "Hyperloop One Now Has $245 Million to Make the Transportation System a Reality". Futurism. 
  6. ^ "Hyperloop Futuristic Transportation System Has Its 1st Public Demo". NPR. May 11, 2016. 
  7. ^ "Photos: Hyperloop One Shows Off 'DevLoop' Test Tube in Nevada". Inverse. March 7, 2017. 
  8. ^ a b "Hyperloop's first real test is a whooshing success". Wired. July 12, 2017. 
  9. ^ "Co-founders of Hyperloop One on their first successful full-scale test run". CBS News. July 12, 2017. Retrieved July 14, 2017. 
  10. ^ Hawkins, Andrew (April 4, 2017). "The hyperloop is ready for its big 'Kitty Hawk' moment — and may be coming to a US city near you". The Verge. US. Retrieved April 10, 2017. 
  11. ^ "Hyperloop Is Real: Meet The Startups Selling Supersonic Travel". Forbes. February 11, 2015. Retrieved November 14, 2016. 
  12. ^ http://www.spacex.com/sites/spacex/files/hyperloop_alpha-20130812.pdf
  13. ^ "Hyperloop Is Real: Meet The Startups Selling Supersonic Travel". US: Forbes. February 11, 2015. Retrieved November 11, 2016. 
  14. ^ Singleton, Micah (February 11, 2015). "Hyperloop Technologies is trying to make Elon Musk's dream a reality". The Verge. US. Retrieved October 25, 2015. 
  15. ^ "Hyperloop Technologies Inc. Announces Land Deal For Propulsion Open Air Test in North Las Vegas, Nevada". Business Wire. 
  16. ^ a b Walker, Alissa (May 10, 2016). "Here's What the First Full-Scale Test of the Hyperloop Will Look Like [Updated]". Gizmodo. US: Gawker Media. Retrieved 11 May 2016. 
  17. ^ "Hyperloop One wins backing from DP World". 
  18. ^ "0 to 400 mph in mere seconds: Welcome to the age of hyperloop". USA Today. May 11, 2016. 
  19. ^ della Cava, Marco (June 21, 2016). "Hyperloop One unveils Russia deal with goal of new Silk Road". USA TODAY. Retrieved June 22, 2016. 
  20. ^ Davis, Matthew (July 28, 2016). "Hyperloop One has begun producing parts for a full-scale prototype". The Verge. US. Retrieved July 30, 2016. 
  21. ^ "Hyperloop One: images of the first Hyperloop full scale test track released". Electrek.co. March 7, 2017. Retrieved March 7, 2017. 
  22. ^ "Hyperloop One, DP World Sign Agreement To Pursue A Hyperloop Route In Dubai". 
  23. ^ "Hyperloop One releases "comprehensive concept design" for high-speed rail in Dubai". Ars Technica. 
  24. ^ Walker, Alissa (July 12, 2017). "Hyperloop One reveals full-size prototype of its shiny new pod design". Curbed. 
  25. ^ "Hyperloop One's passenger pod takes its first ride". Engadget. Retrieved 2017-08-03. 
  26. ^ "Hyperloop One Is Now 'Virgin Hyperloop One' Thanks to Richard Branson's Investment". Fortune. 2017-10-12. 
  27. ^ a b c d e f Tilley, Aaron (May 11, 2016). "Hyperloop One Announces Key Partnerships, $80 Million Investment As It Prepares First Public Test". Forbes. 
  28. ^ "The Little Engine That Might? Hyperloop One Boosts Funding; Names Ex-Uber CFO As Adviser". Forbes. Retrieved November 14, 2016. 
  29. ^ a b Chee, Alexander (November 30, 2015). "The Race to Create Elon Musk's Hyperloop Heats Up". The Wall Street Journal. US. Retrieved February 21, 2016. 
  30. ^ "Hyperloop One - Team". US: Hyperloop One. 2016. Retrieved November 14, 2016. 
  31. ^ "'Hyperloop One Global Challenge' launches to develop the world's first hyperloop networks". Electrek. May 10, 2016. 
  32. ^ "Hyperloop One Announces Semifinalists Of Its Global Challenge". PR Newswire. January 6, 2017. 
  33. ^ "Hyperloop One Unveiles 'Vision For India'". The Times of India. March 1, 2017. 
  34. ^ "Pipe Dream: Hyperloop One's Plan for High-Speed Transport". Inverse. April 17, 2017. 
  35. ^ "Estonia to Finland in just 8 minutes: Hyperloop One unveils 9 proposed European routes (VIDEO)". RT. June 7, 2017. 
  36. ^ "Hyperloop One Global Challenge winners include India, US, UK, Canada, and Mexico". The Next Web. 
  37. ^ "Toronto to Montreal in 39 minutes? Futuristic people mover zips to next stage". Canada: CBC News. 2017. Retrieved September 14, 2017. 
  38. ^ Geuss, Megan (July 1, 2016). "CTO and co-founder of Hyperloop One leaves amid reported tensions". Ars Technica. Retrieved July 20, 2016. 
  39. ^ Geuss, Megan (July 12, 2016). "Former Hyperloop One CTO alleges executive placed a noose in his office". Ars Technica. Retrieved July 20, 2016. 
  40. ^ Geuss, Megan (July 20, 2016). "Hyperloop One accuses former employees of staging a coup". Ars Technica. Retrieved July 20, 2016. 
  41. ^ Reim, Garrett (November 21, 2016). "Hyperloop One Settles Employee Lawsuit". Los Angeles Business Journal. Retrieved November 21, 2016. 
  42. ^ Korosec, Kirsten (February 10, 2017). "Another New Hyperloop Company Just Launched". Fortune. Retrieved July 23, 2017.