Hyperloop One claims to be the only company in the world to have built a fully operational Hyperloop system.
"The Virgin Group and Hyperloop One will be entering into a global strategic partnership focused on passenger and mixed-use cargo service". The pod quickly lifts above the track using magnetic levitation and glides at airline speeds for long distances due to ultra-low aerodynamic drag. Now just three high-profile companies are interested in the Hyperloop idea: Hyperloop One, Hyperloop Transportation Technologies and His Muskiness' own Boring Company.
Virgin is a leading global investment group and one of the world's most recognised and respected brands.
"For more than 20 years, Richard and Virgin have been at the forefront of transportation innovation, and a partnership with them feels like a natural fit", Shervin Pishevar, co-founder and executive chairman of Hyperloop One, said in a statement.
While Hyperloop One's last funding round stood around $85mn, it is still not clear how much money Branson has pumped into its innovative transportation system.
A Hyperloop project just got a huge boost from none other than business magnate Richard Branson.
"Our goal is to make travel fun again".
The statement explains that the duration of the longest test was 10.6 seconds, with a top speed of 192mph (310km/h) - or 86 meters per second. Earlier this year, the company completed its first test track outside Las Vegas. Hyperloop One stages the first public demonstration of a key component of the startup's futuristic rail transit concept that could one day ferry passengers at near supersonic speeds.
One of its spaceships was involved in a fatal crash in October 2014, after which an investigation by the US National Transportation Safety Board found that the pilot had unlocked the spaceship's "feather system" prematurely resulting in the vehicle breaking apart mid-air. The company plans to work with a variety of operators globally.