Hardt Hyperloop can complete the construction of the European Hyperloop Center with a 420-metre-long test facility, for which the company raised 12 million euros from investors. The first tests at the facility should start in 2024.
The European Hyperloop Centre should play an important role in realising innovations around the hyperloop. The hyperloop is a means of transport invented by Elon Musk, founder of Tesla and Space X, among others. Using the hyperloop, travelling at a speed of 1,200 kilometres per hour should be possible. This theoretically makes it possible to travel from Amsterdam to Paris in 30 minutes. The high speed is possible thanks to the use of a network of low-pressure tubes combined with a magnetic gliding system.
Centre includes fully operational hyperloop rail interchange
Several parties worldwide are actively developing the hyperloop and so-called pods - capsules - that can operate on hyperloop routes. One example is Hardt Hyperloop, which is working on hyperloop development in the Netherlands. The European Hyperloop Centre should contribute to the development of the hyperloop. It will be a test centre that includes a fully operational hyperloop track switch. This is a crucial component for the implementation of hyperloop networks.
The centre is to be an open test facility. In practice, this means that other hyperloop developers and companies interested in hyperloop components can also carry out tests. The centre should promote joint learning and collaboration, giving a boost to the entire hyperloop ecosystem.
Construction of the hyperloop tubes and foundations has already started. The installation of the first tubes is expected to take place by the end of the summer.
Several parties are investing
The funding comes from the European Innovation and Technology Centre (EIC) Fund and the regional investment funds InnovationQuarter and Investeringfonds Groningen. Hermann Hauser, EIC Fund board member: "The EIC Fund is proud to support Hardt Hyperloop in its mission to transform transport. This investment reflects the Fund's confidence in Hardt's potential to provide a pioneering solution for the mobility landscape in Europe and beyond."
"We have always considered Hardt Hyperloop a pioneer of innovation in the Rotterdam/Delft region, since the first investment in 2017 by UNIIQ, our early-stage fund. Now, with IQCapital, our largest fund, we are even more committed to promoting these pioneering hyperloop technologies and stimulating their growth in our region," said Koos Fuykschot, Manager IQCapital, InnovationQuarter.
Groningen as region for hyperloop developments
Jan Martin Timmer, fund manager of Investeringfonds Groningen, added: "Groningen has a leading position in supporting sustainable transport and energy development. As early as 2019, Groningen has committed to the establishment of the European Hyperloop Centre. Investing in Hardt's hyperloop development is therefore natural. We are excited to join Hardt on this journey and strengthen Groningen as a key region for hyperloop developments."
In addition, both a number of existing and new investors are also putting money into Hardt. These include entrepreneur Peter Goedvolk, who is investing through his fund First Dutch in collaboration with Platform Zero.
'Continue development and commercialisation'
Tim Houter, co-founder of Hardt Hyperloop: "Thanks to our new and existing investors, we now have a solid foundation to continue the development and commercialisation of the hyperloop. The support is an important sign of confidence in our development plans. It is also not just a win for Hardt Hyperloop. It is also a big step for the hyperloop industry, of which the EHC is an important step towards a sustainable future."
The new round of investment follows investments already announced last year from the private sector. Back then, POSCO International (KR) and Urban Impact Ventures (EU), among others, invested in the realisation of the European Hyperloop Centre. Both investments add up to more than €12 million.
Author: Wouter Hoeffnagel
Image: The CargoLoop, a Hyperloop pod for freight transport developed by Hardt Hyperloop
