HyperloopTT has entered an agreement with sustainable infrastructure developer and operator Ferrovial to analyze hyperloop projects throughout the United States. The deal will allow HyperloopTT to tap Ferrovial’s more than 70 years of experience developing innovative infrastructure projects to advance commercial systems.
Ferrovial has led the development of cutting-edge infrastructure projects worldwide and increases our ability to engage public entities in detailed discussions of the benefits of inter-state hyperloop systems. When partnering on projects, we will work together to conduct detailed route development analysis, with a specific focus on the engineering and construction work necessary for the operation and maintenance of passenger and cargo hyperloop projects.
This agreement comes as hyperloop development becomes mainstream in the United States following our 2019 release of the Great Lakes Hyperloop Feasibility Study. In the past year, the USDOT assigned hyperloop regulation to the federal railroad administration, solidifying the process for creating safety regulations and certification guidelines for hyperloop systems, and the United States House of Representatives included hyperloop in a broader bill meant to spur economic growth following the coronavirus pandemic. I am confident that adding Ferrovial’s expertise will continue this positive progress and significantly advance US hyperloop projects.
Combining expertise with collaborative ambition
Founded in 1952, Ferrovial is a global pioneer in transport infrastructure, mobility solutions and engineering with extensive experience in constructing civil works and buildings. Ferrovial is the owner and operator of the United Kingdom’s Heathrow Airport, Europe’s busiest airport transporting 80.9 million passengers in 2019, and has led the construction of multiple projects across the United States.
Ferrovial’s proven track record of constructing and operating large-scale infrastructure projects is a key reason for our agreement. Their commitment to the creation of innovative sustainable infrastructure perfectly aligns with our goals.
At HyperloopTT, we are committed to creating sustainable mobility solutions that strengthen our communities. To achieve this, we connect international experts to develop technology that overcomes the obstacles facing society. Ferrovial shares this vision of collaborative excellence as this quote from their Chairman Rafael del Pino exemplifies:
“Ferrovial has distinguished itself, above all, for its excellent professionals. Hard work and creativity centered on performance, have allowed us to overcome complex challenges and to take advantage of opportunities, transforming individual skills into collective success.”
When working together on select opportunities throughout the US, I am confident that our similar innovation and collaboration approaches will create highly impactful benefits for society. Transportation is too complicated of an issue to solve alone, and together, we can build off of the incredible work already completed by HyperloopTT’s teams across the United States.
Expanding our ability to demonstrate the positive impacts of hyperloop systems
Since inception, we have harnessed global thought leaders’ power to develop region-specific proposals that would ignite economic growth and support environmental initiatives. This approach to tailoring our projects to specific corridors is exemplified by our partnership with the Northeast Ohio Areawide Coordinating Agency (NOACA) to develop a feasibility study analyzing a route connecting Cleveland to Chicago and Pittsburgh.
Our partnership, which included over 80 regional stakeholders and multiple US Senators, resulted in a comprehensive 160-page hyperloop feasibility study and energized the conversation for developing interstate hyperloop systems. The study, conducted by TEMS, demonstrated an unparalleled system that could spur economic growth without requiring operational subsidies from the government.
The study found that over 25 years the Great Lakes Hyperloop would:
- Operate profitably without government subsidies
- Achieve a benefit-cost ratio of 2.20
- Increase regional income by more than $47.6 billion
- Increase property values by $74.8 billion
- Reduce C02 emissions by 140 million tons
- Provide access to 16x more jobs within a commuting zone
Our work across the United States is not limited to the Great Lakes region. Our teams are continuing to engage with public-private partners throughout the country and recently held meetings with the Tampa Bay Area Regional Transit Authority discussing the potential for a three-phase project that would connect Tampa to Miami via St. Petersburg.
With the USDOT advancing the hyperloop regulatory process, now is the time to accelerate interstate hyperloop routes. Adding Ferrovial’s world-class expertise strengthens our proposals and signifies our commitment to developing sustainable infrastructure that will redefine mobility for generations to come.
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CONTACT:
Ben Cooke
HyperloopTT Head of Media Relations
310-720-1214
