Pod travel just might be a real transportation option down the road now that the first-ever Hyperloop transit system is getting on track.
Hyperloop Transportation Technologies (HTT) and the developers of Quay Valley, California are teaming up to build a five-mile test track for Hyperloop. The pod travel transportation system would run parallel to the Interstate 5 freeway, with construction slated to start in 2016.
"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), developer of Quay Valley. "For these reasons, the Hyperloop is the ideal clean community transit system for Quay Valley."
Quay Valley, which doesn't yet exist, will be a new sustainable 21st century town.
The news comes on the heels of Tesla chief Elon Musk's declaration that he will build an open source test track in Texas.
"Our agreement with Quay Valley is a major milestone in the advancement of the Hyperloop project," said HTT 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 Hyperloop track will be built with HTT's tube, capsule and station model technology. JumpStartFund's 200-member team has been working for two years to make Hyperloop a reality and has produced both financial and technology feasibility studies.
Two weeks ago, HTT announced it will undergo a public offering at the end of this year with a goal of raising $100 million in funding.
The housing development Quay Valley is set to be built on 7,500 acres located along the freeway, between Los Angeles and San Francisco. The goal is to build a sustainable model town with ultra green design standards and resource conservation capabilities, such as a 100 percent solar power energy source system for the 25,000 homes slated to be built in the residential community.
Hyperloop is a dream child of Musk -- it's a futuristic transport option that would provide a way to travel from L.A. to San Francisco in under half an hour. Musk published a white paper on the transport idea and asked for public input, stating he couldn't dedicate his focus due to his other ongoing projects, which include the electric Tesla vehicle and SpaceX.
The Hyperloop, which is being described as the fifth mode of travel, will feature capsules that can hold 28 riders. Musk's vision featured a traveling speed of 760mph, but the Hyperloop will likely top out at 200mph due to the track length.
