Hyperloop Transportation Technologies, one of our PE investment portfolios, reached a milestone

Hyperloop Transportation Technologies Inc., one of the startups we invested in 10 years ago, trying to build the high-speed transportation system dreamed up years ago by Elon Musk, won a bid to build a prototype in northern Italy.

The Venetian Motorway Concession, a regional highway operator known as CAV, has awarded HyperloopTT and its partners an €800 million ($868 million) three-part tender that could eventually lead to a hyperloop along at least a portion of the 40-kilometer (25-mile) route from Padua to Venice, HyperloopTT said.

The path of study and design for technology continues Hyper Transfers in Veneto. A consortium formed by Webuild and Leonardo will conduct the feasibility study of the ultra-fast transport system (up to 1200 kilometers per hour) with controlled guidance in an environment with limited friction and controlled aerodynamic resistance, completely sustainable, and with low energy consumption. The consortium of the two companies was identified at the end of the tender procedure proposed by Cav. The result will be a project that will lay the foundations in view of the subsequent phases of the experimentation, which will analyze an initial stretch between eastern Padua and the port of Venice.

For refenrence:

Company's website: https://www.hyperlooptt.com/technology/

News Media on Italian Project:

LA Times: https://www.latimes.com/business/story/2023-05-13/elon-musks-hyperloop-vision-italian-deal-for-htt

Bloomberg News: https://www.bloomberg.com/news/articles/2023-05-12/elon-musk-s-hyperloop-vision-gets-a-jolt-of-energy-with-htt-italian-deal#xj4y7vzkg