Hyperloop One Closes Dubai Deal

Hyperloop One Closes Dubai Deal

DP World has signed a memorandum of understanding (MoU) with US-based Hyperloop One to explore the role of innovation in the future of world trade.

The collaboration is for feasibility studies that analyse the value of using Hyperloop systems in the UAE, with an initial focus in phase 1 on moving containers from ships docked at DP World’s Jebel Ali Port via the Hyperloop tube to a new inland container depot in Dubai. The initial study will focus on efficient handling of containers, costs, benefits, demand and volume patterns of moving cargo using the new technology.

DP World Group chairman and CEO Sultan Ahmed bin Suyem said: “At DP World, we strive to think ahead and foresee change to create the most efficient, safe and profitable trade solutions. With this collaboration, we’re leading innovation in our industry once again and by testing the Hyperloop technology at Jebel Ali for cargo use, we’re taking a first step in exploring new ways of enabling trade and underlining Dubai’s commitment to innovation.”

Rob Lloyd, CEO, Hyperloop One, said: “This partnership allows us to embrace the innovation of the UAE and to utilise the creativity of DP World, while expanding the variety of use cases for Hyperloop. The UAE has taken a leadership role in pushing global transportation solutions to the forefront and we believe that it is the perfect market for Hyperloop.”

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Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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