EL SEGUNDO, Calif.--(BUSINESS WIRE)--On the heels of announcing a public offering and Elon Musk’s offer to build an open source test track in Texas, JumpStartFund’s Hyperloop Transportation Technologies has announced a formal agreement with the developers of Quay Valley, California, to develop an installation of the Hyperloop along a five-mile stretch of the town running alongside the Interstate 5 freeway. With construction beginning in 2016, this will be the first working passenger-ready Hyperloop in an urban area.
“With Quay Valley, we’re creating a community built on economical, environmental and social sustainability, and part of this is seeking to reduce car dependency,” said Quay Hays, CEO of GROW Holdings, Inc. (Green Renewable Organic & Water), the master developer of Quay Valley. “For these reasons, the Hyperloop is the ideal clean community transit system for Quay Valley.”
“Our agreement with Quay Valley is a major milestone in the advancement of the Hyperloop project,” said Hyperloop Transportation Technologies CEO Dirk Ahlborn. “This installation will allow us to demonstrate all systems on a full scale and immediately begin generating revenues for our shareholders through actual operations.”
The Quay Valley Hyperloop track will be built using HTT’s tube, capsule, and station models. It will be instrumental in optimizing passenger system needs--such as loading, departure and safety considerations--to ensure Hyperloop is ready for larger-scale operation. Running speed will be reduced on the shortened track from Hyperloop’s full potential.
In the past two years, JumpStartFund assembled a team of nearly 200 core team professionals who have worked to bring the Hyperloop to reality by completing extensive technological and financial feasibility studies. On February 13, 2015, Hyperloop Transportation Technologies announced the company was moving towards a public offering near the end of 2015. The offering is planned to be an auction with the goal of raising $100 million.
About Quay Valley
Quay Valley is located on 7,500 acres directly between Los Angeles and San Francisco along California's famous Interstate 5 Freeway. A sustainable model town for the 21st century, Quay Valley is the first urban center to be built with special attention paid to the highest levels of green design standards and resource conservation. Quay Valley will be a 100 percent solar-powered, self-sustaining residential community of 25,000 homes that incorporates cutting-edge technology into a retail, education, entertainment and hospitality infrastructure, generates thousands of jobs, and strengthens the Central Valley’s economy--all while protecting the natural resources and beauty of the land.
About Hyperloop Transportation Technologies, Inc.
Founded by JumpStarter Inc. utilizing JumpStarter’s crowdfunding and crowd collaboration platform JumpStartFund, Hyperloop Transportation Technologies (HTT) is poised and ready to begin construction on one of the largest transportation endeavors in history. Hyperloop first gained public interest when entrepreneur Elon Musk published a detailed white paper describing a futuristic mode of transport that would transport folks from LA to San Francisco in about thirty minutes. Mr. Musk handed the concept to the public asking for entrepreneurs to take over its development while he focused on his existing projects. Hyperloop Transportation Technologies rose to the challenge.
The Hyperloop, also called the 5th mode of transportation, allows a capsule with 28 people to travel through a tube with a low pressure environment of 100pa at 760mph. Similar to an airplane in very high altitudes but on the ground. HTT is headed by CEO, Dirk Ahlborn and is comprised of a unique and collaborative core team of nearly 200 experts and engineers who are working around the clock to ensure the safety, feasibility and reliability of Hyperloop as a viable means of transport in the 21st century.