Hyperloop Advances in Italy
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Italy’s Ministry of Infrastructure has signed a memorandum of understanding with the region of Veneto and the regional highway operator CAV to begin a multistage process of developing a hyperloop system between the cities of Venice and Padua
Playa Vista, CA (March 21, 2022) — HyperloopTT and Hyperloop Italia applauded developments today from the nation of Italy to move forward with a hyperloop system in the region of Veneto. A memorandum of understanding (MOU) was signed between the nation’s Ministry of Infrastructure, CAV – Veneto’s highway authority and operator, and the region of Veneto, with a timeline to study, select, plan, then implement a sustainable highspeed solution in time for the 2026 Olympic Winter Games.
“With the signing of this memorandum of understanding, Italy is a candidate to be one of the first countries in the world to build hyperloop technology,” Bibop Gresta, CEO of Hyperloop Italia. “Hyperloop represents a turning point between the third and fourth industrial revolution, using the technologies available in the 21st century to develop a safe, efficient and sustainable transport system.”
“HyperloopTT is ready to build,” said HyperloopTT CEO Andres De Leon. “This commercial project represents another significant step for the hyperloop industry. We applaud the Italian Government, the Veneto Region, and CAV for their vision and commitment to sustainable innovation and look forward to continuing to work to further this disruptive technology.”
About HyperloopTT
Hyperloop Transportation Technologies (HyperloopTT) is an innovative transportation and technology company focused on realizing the hyperloop, a system that moves people and goods safely, efficiently, and sustainably by bringing airplane speeds to the ground. Through the use of unique, patented technology and an advanced collaborative business model, HyperloopTT is creating the first new form of transportation in over a century.
HyperloopTT’s European Research and Development Center in Toulouse, France, the aerospace capital of Europe, is home to the world’s first and only full-scale test system. In 2019, HyperloopTT released the first comprehensive feasibility study analyzing a hyperloop system, which found that the system is economically and technically feasible and will generate a profit without requiring government subsidies.
Founded in 2013, HyperloopTT is a global team of more than 800 engineers, creatives, and technologists in 52 multidisciplinary teams, with 50 corporate and university partners. Headquartered in Los Angeles, CA, and Toulouse, France, HyperloopTT has offices in North and South America, the Middle East, and Europe.
HyperoopTT is a proud signatory of the United Nations Global Compact, reflecting the company’s commitment to the UN Sustainable Development Goals.
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About Hyperloop Italia
Hyperloop Italia is a highly innovative start up, and was born from an initiative of Bibop Gresta, a Co-Founder of Hyperloop Transportation Technologies to create and distribute HyperloopTT technologies in Italy. It is the first company in the world that has obtained an exclusive license for the commercial implementation of the hyperloop project.
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CONTACT:
Ben Cooke
HyperloopTT Head of Media Relations
310-720-1214
