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€7 million in finance raised to lead the development of hyperloop in Europe

Posted: 2 June 2020 | | No comments yet

Spain’s Zeleros has completed a financing round worth more than €7 million to start a new and important phase in the development of its unique version of hyperloop, the ‘fifth mode of transport’.

€7 million in finance raised to lead the development of hyperloop in Europe

Credit: @zeleros

Hyperloop is considered the ‘fifth mode of transport’ and the best alternative for the future to connect efficiently and sustainably long-distance routes for passenger and cargo transportation. For instance, connections like Paris to Berlin could be reduced to less than an hour with hyperloop transportation.

Zeleros is continuing its hyperloop development thanks to the support of companies such as Altran, Grupo Red Eléctrica and also strategic investors at national and international level, including among others Goldacre Ventures (United Kingdom), Road Ventures (Switzerland), Plug and Play (USA), and the Spanish Angels Capital and MBHA. The funds will be used to impulse further development of Zeleros’ hyperloop vehicle and its core technologies, which place them as the best alternative to cover efficiently routes between 400 and 1,500km in distance, with special benefits such as the reduction of the overall infrastructure costs and the operation at safer pressures for passengers.

In a hyperloop system, vehicles levitate and travel through a network of low-pressure tubes, minimising air and ground friction, thus providing the ability to reach speeds up to 1,000km/h with a minimum energy cost and zero direct emissions. A consolidated European hyperloop network could reduce more than seven million tonnes a year of GHG emissions, providing a fast and more sustainable solution to connect main cities and logistic hubs for distances between 400 and 1,500km. This transport system is called to be the backbone of the economic, social, and sustainable progress of the coming decades at a global level.

Commenting on the announcement, David Pistoni, Chief Executive Officer at Zeleros, said: “For Zeleros it is key to have partners of this relevance and expertise onboard. Their support will accelerate the development of our technologies, unlocking the path towards hyperloop-based routes and corridors in Europe and worldwide. These new funds will boost a major milestone of developing and demonstrating our technologies in a real environment of operation, bringing Zeleros closer to a multi-billion market opportunity to be captured in the next decades.”

Pilar Rodríguez, Strategy, Innovation and R&D Director at Altran Spain, participating as lead investor, said: “As a world-leading engineering company, Altran acts as a technological catalyst in various strategic sectors. By supporting Zeleros, Altran is accelerating disruptive innovation in a sector, such as mobility, that is reinventing itself. With technologies like hyperloop we are changing the future of mobility. Altran has been collaborating with Zeleros since 2017 and will now contribute all of its experience and multidisciplinary talent to help the company accelerate the development of hyperloop technology.”

Miguel Ruiz Dealbert, CEO at MBHA Group, highlighted: “Our companies are committed at supporting technologies and start-ups that accelerate the transition towards a more sustainable mobility. Zeleros has a great potential to decarbonise intercity mobility sector, currently covered mainly by regional aviation. Our company ZIUR Composite Solutions will bring its wide experience in the development of complex structures of composite materials and process automation, supporting Zeleros to reduce the time of implementation and commercialisation of their technologies.”

The following step will be the deployment of the European Hyperloop Development Centre in Spain, including a 3km test-track to demonstrate the effectiveness of its technologies at high speed. The aim of this project is to accelerate the development of the hyperloop industry in Europe, by creating an ecosystem of international industrial, technological and institutional partners.

David continued: “Hyperloop is a great development that requires the participation of first-class players and that is why from the beginning we decided to approach our project by creating a collaborative ecosystem. We combine Zeleros’ talented team and technology with the global experience provided by leading organisations in sectors such as railways, aeronautics, infrastructure and electrification.”

Juan Vicén, Chief Marketing Officer at Zeleros, concluded: “This technology will be a crucial tool to strengthen the achievement of the UN Sustainable Development Goals as well as the European Green Deal. Since its creation, Zeleros has been promoting the standardisation and regulation of hyperloop systems to ensure the highest level of safety and interoperability to expands the limits of the Trans-European Transport Network (TEN-T).”

 

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