News Quay Valley

Hyperloop Transportation Technologies to Build Full Scale Test

The Hyperloop, the brain child of Tesla and SpaceX CEO Elon Musk, took a major step towards reality on Thursday. Hyperloop Transportation Technologies – a company born out of the JumpStartFund crowdfunding platform – announced on Thursday, February 26, that they had secured the land necessary to build out a full-scale Hyperloop:

On the heels of announcing a public offering and Elon Musk’s offer to build an open source test track in Texas, JumpStartFund’s Hyperloop Transportation Technologies has announced a formal agreement with the developers of Quay Valley, California, to develop an installation of the Hyperloop along a five-mile stretch of the town running alongside the Interstate 5 freeway. With construction beginning in 2016, this will be the first working passenger-ready Hyperloop in an urban area.1

Hyperloop-test Hyperloop Transportation Technologies to Build Full Scale Test

It should be noted that Musk himself has no involvement with the Hyperloop Transportation Technologies project. Rather, the company is building off of the white paper that Musk released back in 2013.2 In fact, Musk implored the public to join the process in the conclusion to the white paper referenced above:

Hyperloop is considered an open source transportation concept. The authors encourage all members of the community to contribute to the Hyperloop design process. Iteration of the design by various individuals and groups can help bring Hyperloop from an idea to a reality.3

The funding for the Hyperloop Transportation Technologies project will come from a proposed auction-style IPO:

On February 13, 2015, Hyperloop Transportation Technologies announced the company was moving towards a public offering near the end of 2015. The offering is planned to be an auction with the goal of raising $100 million.4

  1. Business Wire, “First Full-Scale Urban Hyperloop System Planned for California,” 26 February 2015  
  2. Elon Musk, SpaceX, “Hyperloop,” 12 August 2013. Click the read more link for the full paper  
  3. Ibid  
  4. Business Wire, “First Full-Scale Urban Hyperloop System Planned for California,” 26 February 2015