Hold on to your hats – because if you don’t, you might just lose it on the insane hyperloop train across Alberta – which is now one step closer to becoming the reality for those living in Calgary and Edmonton.
Said to blast off at the speed of 600 km/hr, this futuristic mode of transportation has been in the works for years, with the provincial government giving TransPod (the company behind the project) the go-ahead in June of 2021.
With a ‘Memorandum of Understanding,’ in place, the only thing that really stood in the way of making this dream a reality was funding – and it seems that as of today they’re significantly closer to their goal.
According to a press release sent out on March 29th, Broughton Capital Group and China-East Resources Import & Export Co. will donate a combined total of $550 million USD to the Canadian company in hopes of accelerating the development of the TransPod Line.
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“As the first and only company to confirm such finance for a multibillion-dollar tube-transportation infrastructure project, TransPod is proud of its commitment to driving growth in Alberta through true innovation and partnership,” said Sebastien Gendron, co-founder, and CEO of TransPod in a statement.
“The construction and operation of a TransPod Line will help Albertans move around easily, create new jobs, and facilitate investment into the region. With the confidence of our investors and the Government of Alberta, we will deliver on a joint vision of a progressive, sustainable, and growing economy.”
In fact, the company believes that this project could add $19.2B to the province’s GDP by 2030, will create 140,000 jobs over 9 years; and could reduce CO2 emissions by 636,000 tonnes per year – though only time will tell!
Until then, however, the company has vowed to continue its research into 2024 with a goal to begin construction by 2027 – so stay tuned! Who knows what might happen – but it’ll be cool to see it all go down.
