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HyperloopTT signs agreement for commercial system in Ukraine

Posted: 18 June 2018 | | No comments yet

HyperloopTT will work with Ukraine’s Ministry of Infrastructure, planning Europe’s first commercial system while creating the legal framework for the nation…

Ukraine

Dirk Ahlborn, CEO Hyperloop Transportation Technologies, and Volodymyr Omelyan, Minister of Infrastructure of Ukraine

Hyperloop Transportation Technologies?has announced the signing of an agreement with Ukraine’s Ministry of?Infrastructure to begin the process towards a planned commercial Hyperloop?system.

The agreement was signed in the?Ukraine?capital of?Kiev,?in line with the nation’s National Transport Strategy of?Ukraine?2030 initiative.

The construction of the first commercial Hyperloop system which will be built out in phases. The first phase will consist of a 10km track that will be used to create the required legal framework to certify the system, before being extended out into a broader Hyperloop network. The project is planned to be financed as a public private partnership after the completion of the initial study.

“We have set a course to bring?Ukraine’s?infrastructure into the 21st century,” said Minister of Infrastructure of Ukraine, Volodymyr Omelyan. “Hyperloop is a key component to our goals of creating a smart and sustainable transportation infrastructure.”

“In 2018 we started the commercialisation of our technology with a focus on creating regulations – the biggest hurdle remaining to bring this new mode of transportation to the world,” said HyperloopTT CEO,?Dirk Ahlborn. “These first commercial systems will allow us to create the necessary legal framework which can serve as a basis for other countries around the world.”

“We announced our first commercial agreement in?Abu Dhabi?in April 2018 and we are pleased to include?Ukraine?to our growing list of sovereign partners,” said HyperloopTT Chairman, Bibop Gresta. “Ukraine?is at the crossroads of the new Silk Road transportation corridor and we can expect Hyperloop to play a major role in connecting?Europe?and?Asia.”

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