Monday, December 16, 2019

Hyperloop TT: Study Shows Great Lakes Hyperloop Will Be Profitable

Playa Vista-based advanced transportation technology developer Hyperloop Transportation Technologies, one of the companies working on the Hyperloop transportation concept first devised by Elon Musk, says that a study--conducted in Ohio--shows one of its proposed routes "is profitable and makes sense". The study, published by a group called Transportation Economics and Management Systems, Inc. (TEMS), was conducted by the Northeast Ohio Areawide Coordinating Agency (NOACA), as part of an effort to develop a Hyperloop systems in the Cleveland, Ohio area. Hyperloop Transportation Technology (Hyperloop TT) is not be confused with other Hyperloop development companies, Hyperloop One and The Boring Company. TEMS said that the Hyperloop TT system is the "first system to be shown as profitable from a financial standpoint, meaning it does not require government subsidies". Hyperloop Transportation Technologies says that it, along with NOACA, the Ohio Department of Transportation, are now moving onto the next phase of the project, an Environmental Impact Study (EIS) of the system, which could be complete by 2023.