Hyperloop Transportation Technologies Signs Agreement for Commercial System in Ukraine
HyperloopTT will work with the Ministry of Infrastructure of Ukraine on planning Europe's first commercial system while creating the legal and regulatory framework for the nation
Jun 14, 2018, 09:19 ET
PLAYA VISTA, Calif., June 14, 2018 /PRNewswire/ -- Hyperloop Transportation Technologies announced today the signing of an agreement with the Infrastructure Ministry of Ukraine to begin the process for a planned commercial Hyperloop system. The agreement was signed in the Ukraine capital of Kiev in line with the nation's National Transport Strategy of Ukraine 2030 initiative.
In February of 2018, Ukraine's Transportation Minister, Volodymyr Omelyan, announced the nation would begin setting the stage for Hyperloop technology alongside Ukraine's National Academy of Sciences, state defense conglomerate Ukroboronprom, aerospace manufacturer Yuzhmash and several other industrial and scientific institutions.
HyperloopTT will work directly with Ukraine's Ministry of Transportation to begin planning the construction of the first commercial Hyperloop system which will be built out in phases. The first phase will consist of a 10 km track that will be used to create the required legal framework to certify the system before being extended out into a broader Hyperloop network. The project is planned to be financed as a public private partnership after the completion of the initial study.
"We have set a course to bring Ukraine's infrastructure into the 21st century," said Minister of Infrastructure of Ukraine Volodymyr Omelyan. "Hyperloop is a key component to our goals of creating a smart, and sustainable transportation infrastructure. We warmly welcome HyperloopTT to join us in this endeavor and are glad to have an agreement signed."
"This year we started the commercialization of our technology with a focus on creating regulations which are the biggest hurdle remaining to bring this new mode of transportation to the world," said HyperloopTT CEO Dirk Ahlborn. "These first commercial systems will allow us to create the necessary legal framework which can serve as a basis for other countries around the world."
"We announced our first commercial agreement in Abu Dhabi in April and we are pleased to include Ukraine to our growing list of sovereign partners," said HyperloopTT Chairman Bibop Gresta. "Ukraine is at the crossroads of the new Silk Road transportation corridor and we can expect Hyperloop to play a major role in connecting Europe and Asia."
About HyperloopTT
Hyperloop Transportation Technologies Inc. (HyperloopTT | HTT) is an innovative transportation and technology company focused on realizing the Hyperloop, a system that moves people and goods at unprecedented speeds safely, efficiently, and sustainably. Through the use of unique, patented technology and an advanced business model of lean collaboration, open innovation and integrated partnership, HyperloopTT is creating and licensing technologies.
Founded in 2013, HyperloopTT is a global team comprised of more than 800 engineers, creatives and technologists in 52 multidisciplinary teams, with 40 corporate and university partners. Headquartered in Los Angeles, CA, HyperloopTT has offices in Abu Dhabi and Dubai, UAE; Bratislava, Slovakia; Toulouse, France; Contagem, Brazil; and Barcelona, Spain. HyperloopTT has signed agreements in the United States, Slovakia, Abu Dhabi, the Czech Republic, France, India, Indonesia, Brazil and Korea.
HyperloopTT is led by co-founders Dirk Ahlborn (CEO) and Bibop Gresta (Chairman) and a senior management team of experienced entrepreneurs and professionals. For more information or media inquiries, contact [email protected] or visit http://hyperloop.global/.
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SOURCE Hyperloop Transportation Technologies