LOS ANGELES--(BUSINESS WIRE)--HyperloopTT, a leading transportation and technology licensing company focused on realizing the hyperloop, is the designated technology provider within a joint venture of world-leading Italian-based industrial companies – Webuild and Leonardo – that could lead to the construction of the world’s first commercial hyperloop system in Italy. In June of 2023, the consortium called Hyper Builders, won the successful bid on the tender issued by the Venetian Motorway Concession (CAV), Italy’s regional highway operator, which calls for a hyperloop prototype on a section between Venice-Mestre and Padua, Italy. The contract for the feasibility study was signed by CAV and Webuild, the project leader, officially kicking off the project. Following phase one, the tender includes two other phases: a detailed design and engineering phase and the subsequent final phase for construction, testing, and certification.
Named ‘Hyper Transfer,’ the project, when completed, will reduce heavy traffic, decrease traditional transport times and energy consumption, improve road safety, and enhance the interconnections between transport systems and smart cities in the local area. The system will then be expandable to fully connect the cities of Venice (Mestre) and Padua.
The joint venture consists of some of the world’s most prominent companies in the transportation industry, led by Webuild – the largest Italian engineering and general contractor group and a global player in the construction sector, together with Leonardo – one of the world’s largest multinational companies specializing in aerospace, defense, and security. Hyper Builders also includes RINA, a firm that builds businesses in transport and infrastructure, and Hyperloop Italia - HyperloopTT’s licensee in Italy.
Andrés de León, CEO of HyperloopTT said:
“This is the moment HyperloopTT has been working towards since 2013. We thank the Italian government, the Veneto region, and CAV for their vision and commitment to sustainable innovation. We’ve partnered with some of the best engineering and transportation companies in the world, all with deep roots in the region. We look forward to bringing this first of many hyperloop systems to the world.”
Zach Zhang, Director HyperloopTT and Silicon Valley-based venture capitalist said:
“As both a long-time advocate for innovative transportation solutions and an investor in HyperloopTT, I am thrilled to witness the birth of the 'Hyper Transfer' project. We are incredibly proud of the achievement of all our management team and employees. We are not only investing in a technological marvel, but also in the people that are creating the future of sustainable and efficient travel.”
Andrea La Mendola, COO of HyperloopTT said:
“Italy has always been a cradle of creativity, innovation, and progress, from the artistic brilliance of the Renaissance to the engineering prowess behind their high-speed trains. Today, we stand at the dawn of a new era, poised to redefine mobility once again with the 'Hyper Transfer' project. This hyperloop system is not just about connecting Venice and Padua in record time; it is a testament to Italy's unwavering spirit of innovation and their commitment to sustainable and efficient transport.”
Bibop Gresta, Founder and CEO of Hyperloop Italia, shares his enthusiasm:
“The hyperloop sector's growth is remarkable, marking a renaissance period. HyperloopTT's decade of technological development, alongside rapid advancements in Europe and China's successful tests, underscores the industry's vitality. Italy stands poised to be at the forefront of this eco-friendly, high-speed transport revolution.”
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About HyperloopTT
HyperloopTT (www.hyperlooptt.com) is an innovative company dedicated to developing the hyperloop, a high-speed, sustainable transportation system. Founded in 2013 and headquartered in Los Angeles, CA, the company has a global team of over 800 professionals. Operating across North and South America, the Middle East, and Europe, HyperloopTT is advancing towards commercialization.
