- (Video) Study reveals Hyperloop to be the only form of high-speed transportation that is profitable and makes economic sense in the United States
- The 160+ page document represents the most comprehensive look at a commercial Hyperloop system to be released to the public to date
- Study reveals costs, fares, routes, speeds, construction timeframes, environmental factors, and extensive economic data
- The study reveals Hyperloop can accommodate the commuter and freight expansion in the region projected for the next twenty-five years
PLAYA VISTA, California, Dec. 16, 2019 /PRNewswire/ -- At an event held at the Great Lakes Science Center in Cleveland, Ohio, Hyperloop Transportation Technologies (HyperloopTT) along with government partners Northeast Ohio Areawide Coordinating Agency (NOACA) and transportation planning firm Transportation Economics and Management Systems, Inc. (TEMS) released the final draft of the Great Lakes Hyperloop Feasibility Study, available for download here.
This landmark study puts the HyperloopTT system at the forefront of economic and technical feasibility worldwide. Full-scale testing is underway at the HyperloopTT Safety and Certification center in Toulouse, France. Earlier in 2019, HyperloopTT provided the first safety certification guidelines to the European Commission and the US Department of Transportation.
"The work our teams have done in the region alongside our government partners in a true public-private partnership, are historic in nature and provide further validation that Hyperloop is a viable, if not preferred, option for high-speed transportation solutions in the 21st century," said Andres de Leon, CEO of HyperloopTT.
"The study validates what we have been saying for a few years now, Hyperloop makes economic sense," said Dirk Ahlborn, Chairman of HyperloopTT. "We could not have accomplished this effort without the support, guidance, resources, and talent made available to us from the over eighty organizations that have been working alongside us on this project in the Great Lakes region.
"The Great Lakes corridor, through Cleveland, will need to meet the growing transportation demands heading into the coming decades. Hyperloop is proving to be the best choice to expand our infrastructure from an economic standpoint," said Grace Gallucci, Executive Director of NOACA. "Hyperloop meets the region's capacity needs and does so faster, cheaper, and more sustainably than other options currently available."
"TEMS has performed over forty feasibility studies for high-speed rail in the United States, and Hyperloop is the first system to be shown as profitable from a financial standpoint, meaning it does not require government subsidies," said Alex Metcalf, Ph.D., president, TEMS. "The results of this study show that Hyperloop, due to its inherent efficiencies, is a high-speed transportation system that truly makes economic sense for the Great Lakes corridor and likely for many corridors around the United States."
NOACA, the Ohio Department of Transportation, and HyperloopTT are now moving into the next phase of the project which is an Environmental Impact Study (EIS) of the system. It is projected that this phase could be completed by 2023.
Hyperloop Transportation Technologies (HyperloopTT) is an innovative transportation and technology company focused on realizing the Hyperloop, a system that moves people and goods at unprecedented speeds safely, efficiently, and sustainably. Through the use of unique, patented technology and an advanced business model of lean collaboration, open innovation, and integrated partnership, HyperloopTT is creating and licensing technologies.
Founded in 2013, HyperloopTT is a global team comprised of more than 800 engineers, creatives and technologists in 52 multidisciplinary teams, with 40 corporate and university partners. Headquartered in Los Angeles, CA, HyperloopTT has offices in the UAE, Spain and France. HyperloopTT has signed agreements in the United States, UAE, France, India, China, Korea, Indonesia, Slovakia, Czech Republic, and Ukraine.
The Northeast Ohio Areawide Coordinating Agency (NOACA) is the transportation and environmental planning agency that represents state, county, city, village, and township officials in Greater Cleveland. NOACA addresses the transportation, air quality, and water quality needs of Cuyahoga, Geauga, Lake, Lorain and Medina counties. The agency and its partners cooperatively develop and implement plans to ensure that travel throughout the region is safe, cost-effective and environmentally sound.
Transportation Economics & Management Systems, Inc. (TEMS) has been in existence since 1989 and is widely accepted as one of the foremost ground transportation planning firms in North America. TEMS provides specialized management, planning, market research, economic, and systems technology consulting services for the transportation industry. TEMS' economists, systems analysts, engineers, and professional managers have extensive experience with projects of all scopes and sizes throughout North America and abroad. One of TEMS' strengths is its ability to provide clients with consultants who not only possess excellent theoretical knowledge, but also have practical, hands-on experience in operational environments. TEMS' clients include federal, state and local government agencies, railroad companies, international development organizations, investment banks and a range of industrial and commercial companies.
SOURCE Hyperloop Transportation Technologies