prev
Hyperloop Transportation Technologies (HyperloopTT) testified in front of the House Committee on Transportation and Infrastructure in an effort to advance the development of hyperloop systems in the United States. CEO Andrés de León offered the sitting members insight into hyperloop technology, it’s current projects and what role the government would play in deploying commercial systems in the U.S.
Mr. de León emphasized that HyperloopTT was ready to launch into the build phase in the U.S. alongside existing industry with partnerships like Hitachi Rail, Leybold, and GNB and pointed out that the HyperloopTT system comes with a much lower price tag than that of other high-speed rail systems.
With infrastructure being a centerpiece of the new administration’s efforts and the United States having one of the most underdeveloped rail systems among its peers, De Leon presents this as a golden opportunity. “The time for hyperloop is now, HyperloopTT and our industry colleagues have led the way for the technological, economic, environmental, and regulatory justification for the biggest breakthrough in transportation in a century.”
Currently, the Great Lakes Hyperloop project, a Public-Private Partnership with Cleveland MPO NOACA and over 90 regional organizations and institutions, connecting Pittsburgh, Cleveland and Chicago is the most advanced hyperloop project in the United States. Conducted by independent transportation economists at TEMS, the Great Lakes Hyperloop Feasibility Study (GLHFS) found that a HyperloopTT system along the corridor would operate profitably without requiring government subsidies, have a 3-4 year construction timeline and a cost of only $54 million per mile, resulting in a remarkable Benefit/Cost Ratio of 2.20 with long-standing economic and environmental benefits, including a reduction of 143 million tons of CO2. The study projects that a fully connected hyperloop network throughout the U.S. could increase GDP by 1%.
Congressman Tim Ryan (D-Ohio) said, following the testimony that “Today’s hearing is an important step in making the United States a global leader in sustainable transportation. The work HyperloopTT has done in my home state of Ohio and across the Great Lakes Megaregion has shown that high speed transportation can both be profitable and better for the environment. Congress would do the nation a great service to pave the way for the Hyperloop industry.”