First publishedon www.ITSInternational.com
One will open a development and testing centre in Malaga, Spain, in a bid to accelerate the development and testing of hyperloop technology. The facility is expected to be complete by 2020.
The initiative, valued US$500m, stems from an agreement with the state-owned infrastructure agency Administrator of Railway Infrastructures. Virgin Hyperloop One will receive €126m in public aid through loans and grants to help establish the centre and advance its technology development.
The 19,000 square metre facility will be located in the Andalusian region at Bobadilla, a village of the municipality of Antequera. The company will test and certify hyperloop components and subsystems to improve the safety and reliability of hyperloop systems.