Under the leadership of JumpStartFund chief Dirk Ahlborn, the crowdfunded startup claims to have completed feasibility studies and is ready to begin full-scale testing along Interstate 5 halfway between Los Angeles and San Francisco. Passenger capsules will likely not reach more than 200 mph on the short segment.
“It’s time to take the Hyperloop from concept and design and build the first one,” Ahlborn said, as quoted by CNBC.
Notably, HTT is operating separately from Elon Musk, apparently inspired by the Tesla Motors CEO’s vision proposed two years ago. The idea is also being pursued by Musk himself, with the promise of another test track in Texas. A third company, Los Angeles-based Hyperloop Technologies, is also pursuing the idea, according to Forbes.
HTT’s test track is expected to be used by residents of a proposed development known as Quay Valley, a solar-powered town that is expected to have 25,000 homes. Musk’s test track is believed to be starting with a smaller-scale approach before scaling up to a system capable of transporting people.
Funding for HTT remains a big question, as the company so far has been operating with the help of approximately 100 volunteer engineers. Building the test track is expected to cost at least $100 million, which Ahlborn plans to raise via a Dutch-auction IPO. The same strategy was once used by Google, but is considered a risky approach for a company that is far from bringing in its first revenue.
If HTT receives sufficient funding, the track could be operational as early as 2019.
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