After travelling in cars, trains and trams, now its time for a Hyper loop! Elon Musk's idea of transporting people in high speed capsules through tubes over large areas seems to be turning into a reality, two years after his vision.
Though Musk seemed pessimistic about the idea initially, he has since made plans to make a test in Texas. No results have been finalized though. However, Hyperloop Transportation Technologies established by Dirl Ahlborn last year seems to be real progress.
Hyperloop Transportation technologies have signed an agreement to build a five-mile line in central California in the Interstate 5 area. Dirk Ahlborn, CEO of JumpStartFund who created Hyperloop Transportation Technologies hopes to take a big step of converting Hyperloop from concept and design to building a real one. The construction is scheduled to start next year and be completed by 2019. It is estimated to run a line of five miles constructed by the developers of Quay Valley in central California who signed the deal with Hyperloop Transportations.
Funding of the loop remains a big issue but Ahlborn seems to have some ideas for that too. He is targeting an IPO of Hyperloop Transportation Technologies to raise a minimum of $100 million. He hopes that the first commercial application of the Hyperloop will help raise the interest of other suppliers.
If the idea of the Hyperloop becomes a success, we might see a new transportation in the near future. A vision from sci-fi movies seems to be making ground now. How effective can this mode of transportation be? That will only become clear after the development of the first Hyperloop. Maybe 2019?