Virgin Hyperloop One solidifies commitment to Vision 2030

Mojave Desert, California, April 02, 2018 (GLOBE NEWSWIRE) -- APRIL 1, 2018 – Executives from Virgin Hyperloop One (VHO) today hosted His Royal Highness Mohammed bin Salman bin Abdulaziz, Crown Prince and Minister of Defense of the Kingdom of Saudi Arabia during his visit to Virgin Galactic test site in the Mojave desert. During his visit, HRH the Crown Prince unveiled the Vision 2030 Hyperloop Pod, further cementing the commitment between the Kingdom and VHO to bring hyperloop technology to Saudi Arabia.

“We’re look forward to advancing the relationship between KSA and VHO while we develop innovative transport technologies like hyperloop, accelerating Vision 2030 objectives to transform the Kingdom of Saudi Arabia from a technology consumer to a technology innovator” said His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz. “Hyperloop is the catalyst to enable all 4^th generation technologies to flourish in the Kingdom while creating a vibrant society and thriving economy through visionary cities and high-tech clusters.”

With speeds 2-3 times faster than high-speed rail and an on-demand, direct to destination experience, hyperloop technology can reduce journey times across the kingdom, exponentially increasing connectivity across not only across KSA but throughout the GCC. Traveling from Riyadh to Jeddah would take 76 minutes (currently over 10 hours) utilizing the land bridge for both passenger and freight movement, positioning KSA as the gateway to 3 continents. Traveling from Riyadh to Abu Dhabi would take 48 minutes (currently over 8.5 hours).

“Our continued support from HRH and collaboration with Vision 2030 will allow the VHO system to connect with cities across the Kingdom turning commute times from hours into minutes” said Josh Giegel, Co-Founder and CTO of Virgin Hyperloop One. “It was an honor to host HRH the Crown Prince and advance our discussions around the implementation of the hyperloop system and Innovation Center facility, enabling Vision 2030 to nurture the nation’s entrepreneurial culture, and grow an innovative highly-skilled workforce through meaningful transfers of knowledge and technology."

During the visit, Virgin Hyperloop One and HRH discussed how the hyperloop-enabled transportation sector in the Kingdom of Saudi Arabia will stimulate economic growth and diversification of Saudi industries, nurture manufacturing and innovation sectors, and spur job growth in support of the country’s Vision 2030 plan increasing the GDP 1-2 percent across the Kingdom.

“We’ve started this journey through Virgin Hyperloop One partnership with the MiSK Foundation supporting bright, young Saudi talent through an internship exchange program at the company’s Innovation Campus in the United States.” said Virgin Hyperloop One CEO Rob Lloyd. “Today's visit and discussions kick off the next phase that will make VHO a reality in the Kingdom of Saudi Arabia.”

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About Virgin Hyperloop One

Virgin Hyperloop One is the only company in the world that has built a fully operational hyperloop system. Our team has the world's leading experts in engineering, technology, and transport project delivery, working in tandem with global partners and investors to make hyperloop a reality, now. Virgin Hyperloop One is backed by key investors including DP World, Caspian VC Partners, Virgin Group, Sherpa Capital, Abu Dhabi Capital Group, SNCF, GE Ventures, Formation 8, 137 Ventures, WTI, among others. For more information, visit www.virginhyperloopone.com.