Toronto, July 13, 2017 (GLOBE NEWSWIRE) -- TransPod, the startup that is building the world’s leading hyperloop system to disrupt and redefine commercial transportation, today released the results of its Initial Order of Magnitude Analysis to build a TransPod ultra-high-speed line in Southwestern Ontario between the cities of Toronto and Windsor, with multiple stops in between. The study indicates that building a TransPod hyperloop system will cost half the projected cost of a high-speed rail (HSR) line along the same route, while offering faster and more efficient transportation for passengers and cargo, at more than four times the top speed of HSR.
The Government of Ontario recently announced an investment of $15 million for an environmental assessment of its plans for an HSR line along the same Toronto-Windsor corridor. Premier Kathleen Wynne introduced a study conducted by former federal minister David Collenette, to present one option for a way forward to tackle the growing challenges of urban mobility, environmental sustainability, and economic growth in the region.
“Southwestern Ontario accounts for 50 per cent of the province’s GDP, and developing high-speed transportation for the region will absolutely benefit and strengthen its economic growth and global competitiveness," said Sebastien Gendron, co-founder and CEO, TransPod. “But we need to future-proof ourselves, and we can’t continue with outdated technology. Countries like China, Japan, and South Korea have already moved past high-speed rail and begun building much faster trains using magnetic levitation – the age of high-speed rail has come and gone, and the technology will soon be obsolete. We strongly urge the Government of Ontario to consider hyperloop feasibility, for its cost efficiency and speed advantages, in its next assessment.”
Key findings from TransPod’s report, with comparisons to the Collenette study, are as follows:
Parameters for the full Toronto-to-Windsor corridor | TransPod hyperloop line | High-speed rail |
Total cost | $10.3 billion* | $20.9 billion* |
Total end-to-end travel time | 30 minutes | 2 hours |
Cost per kilometre (total: 350 km) | $29 million | $55 million |
Maximum speed | Beyond 1,000 km/h | 250 km/h |
Average speed | 700 km/h | 150 km/h |
* Includes contingencies
Key benefits of a TransPod hyperloop line are as follows:
“Smart infrastructure can help to alleviate environmental, economic, and even housing concerns, in order to sustain future growth,” said Gendron. “We cannot continue to be laggards, especially in a province whose economic growth and quality of life may potentially have rippling effects across the country. TransPod, would appreciate and welcome the opportunity to work with the Ontario government to assess hyperloop feasibility.”
“TransPod’s breakthrough research, and made-in-Canada technology, will enable convenient, safe, ultra-high-speed journeys to be as simple as waiting five minutes for the next station departure,” said Ryan Janzen, co-founder and CTO, TransPod. “The TransPod vehicle uses cutting-edge aerospace technology, while the interior will be reminiscent of an advanced aircraft cabin with rows of seating. The riding experience is smooth, comfortable, and fast. This technology is being developed in Canada with TransPod’s global industrial partners, to redefine future transportation.”
For more information:
In November 2016, TransPod announced the closing of a seed round for $15 million USD, and is continuing to invest in research, product development and global growth. In March 2017, TransPod announced the opening of three offices in North America and Europe to accelerate the development of a commercially viable hyperloop system by 2020. In June 2017, TransPod announced a partnership with Liebherr-Aerospace to develop next-generation thermal management technology for the TransPod hyperloop system.
About TransPod
TransPod’s goal is to disrupt and redefine commercial transportation between major cities in developed and emerging markets. The startup was founded in 2015 to build the world’s leading hyperloop system to connect people, cities, and businesses with high-speed transportation that is affordable and environmentally sustainable. TransPod is headquartered in Toronto, Canada.
For more information, visit www.transpodhyperloop.com.
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A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/7e65c3b8-6076-4c60-87c8-55f043c75461
Attachments:
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/7527a5dc-769c-4e67-85e7-5cb04e483e0b