WASHINGTON, Nov. 16, 2021 /PRNewswire/ — The future of transportation takes a giant leap forward today as Hyperloop Transportation Technologies (HyperloopTT), the leading developer of the next generation of sustainable high-speed transportation, celebrated the passage of H.R 3684 – the Infrastructure Investment and Jobs Act. The bill was signed by President Joe Biden today shortly after being passed by Congress with bipartisan support.
The wide-sweeping legislation invests in bridges, freeways, and sustainable transportation options like hyperloop, which is specifically mentioned by name in the bill. In addition, the bill allows HyperloopTT access to federal government programs and funding that other transportation modes and organizations already access, but places a much greater emphasis on the need to develop sustainable transportation infrastructure.
"Building our hyperloop system in the U.S. just got a lot easier," said HyperloopTT CEO Andres De Leon. "I’d like to thank our teams and the members of Congress, the White House, and our industry partners who have worked alongside us to prove to even the most skeptical that hyperloop is the clear choice for jobs, the economy, and the environment. With this bill, HyperloopTT and our technology arrive on equal footing with traditional transportation."
"I am proud to have helped cement the future of hyperloop travel with the passage of the Infrastructure Investment and Jobs Act," said Congressman Tim Ryan. "This groundbreaking technology will be revolutionary to Ohio and the entire country — opening the door for more job opportunities, higher economic growth in our cities, less time in traffic, more chances to see loved ones, and so much more. I look forward to continuing to work to get the Hyperloop built and up and running."
Working closely with USDOT, its combined task force called the NETT Council (Non-traditional and Emergent Transportation Technologies), and the Federal Railroad Administration, HyperloopTT is ready to apply to the programs made available for hyperloop systems. Most notably, for the company’s Great Lakes Hyperloop project connecting Chicago, Cleveland, and Pittsburgh, which remains the most advanced studied hyperloop route in the world.
Hyperloop Transportation Technologies (HyperloopTT) is an innovative transportation and technology company focused on realizing the hyperloop, a system that moves people and goods safely, efficiently, and sustainably by bringing airplane speeds to the ground. Through the use of unique, patented technology and an advanced collaborative business model, HyperloopTT is creating the first new form of transportation in over a century.
HyperloopTT’s European Research and Development Center in Toulouse, France, the aerospace capital of Europe, is home to the world’s first and only full-scale test system. In 2019, HyperloopTT released the first comprehensive feasibility study analyzing a hyperloop system, which found that the system is economically and technically feasible and will generate a profit without requiring government subsidies.
Founded in 2013, HyperloopTT is a global team of more than 800 engineers, creatives, and technologists in 52 multidisciplinary teams, with 50 corporate and university partners. Headquartered in Los Angeles, CA, and Toulouse, France, HyperloopTT has offices in North and South America, the Middle East, and Europe.
HyperloopTT is a proud signatory of the United Nations Global Compact, reflecting the company’s commitment to the UN Sustainable Development Goals.
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