Government of Alberta and TransPod Sign Memorandum of Understanding on Development of a 1000 km/h Hyperloop Transportation System
August 25, 2020
TransPod project poised to create 38,000 jobs and put the province at the forefront of innovation
EDMONTON, ALBERTA – August 25, 2020 – TransPod, the startup that is building the world’s leading hyperloop system (the TransPod system) to disrupt and redefine commercial transportation, today announced it has signed a memorandum of understanding (MOU) with the Government of Alberta in Canada to support the development of safe, high-speed transportation in Alberta, based on the 1000 km/h TransPod vehicle. The MOU facilitates the process of attracting private investment to the province, in order to build a multi-billion-dollar infrastructure project. The project is estimated to create up to 38,000 jobs over 10 years, diversify Alberta’s economy, improve the efficient movement of people and goods, and reduce Alberta’s carbon emissions by up to 300,000 tonnes per year.
The MOU will see Alberta Transportation:
Support TransPod undertaking further study on the feasibility of developing its technology in Alberta
Share available transportation data as appropriate that may assist TransPod in assessing the feasibility of its technology
Work with TransPod officials to identify suitable land that can safely accommodate a test track
Participate in discussions with potential large institutional investors where suitable
No financial commitments or endorsements have been made by Alberta Transportation regarding the TransPod project.
The phases of the Alberta TransPod project are as follows:
Short-term: feasibility study (2020-2022)
Short-term: research and development phase (2020-2024)
Medium-term: test track construction and high-speed tests (2022-2027)
Long-term: construction of a full inter-city line between Edmonton and Calgary (to begin in 2025)
https://transpod.com/2020/08/governm...tation-system/