Dutch company Hardt Hyperloop has been awarded €15m (c.£12.7m) from the European Commission to accelerate the development of its high-speed transport technology.
This is the first time that a hyperloop company has received an investment from Brussels.
The investment aligns with the European Green Deal, which includes hyperloop technology in the commission’s strategy for sustainable and smart mobility.
Hyperloop vehicles are being designed to glide at speeds of 700mph or more, propelled within a low-pressure tube by a linear electric motor, making travel energy-efficient and carbon-neutral.
Tim Houter, co-founder of Hardt Hyperloop, said: “The support from the EU is a major breakthrough.
“Now that Brussels is also on board, there is support at all levels – regional, national and continental.
“This will help to accelerate the development of a European hyperloop network, bringing us much closer to significant carbon savings.
“European cities will be connected smarter, faster, and cheaper.”
Hardt Hyperloop is currently working with public and private partners in the Hyperloop Development Program (HDP) on tasks including integration of hyperloop alongside cars, trains, and planes, and demonstrations of the technology at the European Hyperloop Centre.
Part of the company’s expansion plans include working alongside Schiphol airport, which is backing the technology to replace a share of their short-haul flights by 2050.
Hardt Hyperloop is one of several companies developing the technology globally, including big players Virgin Hyperloop and SpaceX.
Image: Hardt Hyperloop prototype for Schiphol airport. Credit: Hardt Hyperloop
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