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Hyperloop Transportation Technologies Signs Agreement to License Technology in South Korea

HTT signs agreement with the Korea Institute of Civil Engineering and Building Technology (KICT) and Hanyang University to co-develop a full scale Hyperloop system, called HyperTube Express (HTX), within the Republic of Korea

 

PLAYA VISTA, Calif.June 20, 2017 /PRNewswire/ — Hyperloop Transportation Technologies (HTT) announced today that it has signed agreements with the South Korean government’s department of technological innovation and infrastructure, the Korea Institute of Civil Engineering and Building Technology (KICT), as well as with the country’s top engineering research school, Hanyang University.

The Korean Government is clearly committed to make high-speed tube travel a reality in the country. HTT is leading the effort to design and build the Hyperloop and just recently announced the start of the production of the world’s first full-scale passenger hyperloop capsule.

 

Details of the Agreements

“We were the first company working to make the Hyperloop a reality, and seeing governments like South Korea taking steps on implementing these systems are great milestones,” said Dirk Ahlborn, CEO of Hyperloop Transportation Technologies “As a technology firm, we are making our developments available to all parties interested in implementing this technology through our licensing program and ensuring there is a worldwide interchangeable standard.”

 

“Tube travel changes the way people live and move, it has the opportunity to unite people,” said Tai Sik Lee, KICT President. “The Republic of Korea continues its tradition of technological advancement and innovation by bringing this technology to life, the government has allocated the necessary resources, we finalized our preliminary research and now are getting ready to implement.”

 

“As the first mover to develop the Hyperloop technology, it is now becoming crucial for us to focus on standardisation for our new and growing industry,” said Bibop Gresta, HTT Chairman. “After more than three years of development, we’re able to collaborate directly with governments and consortiums to create standards around the world.”

SOURCE Hyperloop Transportation Technologies

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