Hyperloop Transportation Technologies signs tech license agreement in South Korea

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Hyperloop Transportation Technologies (HTT) has signed an agreement with the Korea Institute of Civil Engineering and Building Technology (KICT) and Hanyang University to co-develop a full-scale Hyperloop system, called HyperTube Express (HTX), within the Republic of Korea.

HTT is leading the effort to design and build the Hyperloop and just recently announced the start of the production of the world’s first full-scale passenger hyperloop capsule. The technology has also been of interest to the postal and logistics sector, with DHL and Dutch researchers working to create a similar prototype.

The agreement details include licensing and research development of vacuum state tube infrastructure technologies and a safety management platform; the licensing and development of tube technology, including welding, construction or maintenance with Korean steel and construction companies; and a full-scale testbed for the Hyperloop.

Dirk Ahlborn, CEO of Hyperloop Transportation Technologies, said, “We were the first company working to make the Hyperloop a reality, and seeing governments like South Korea taking steps on implementing these systems are great milestones.

“As a technology firm, we are making our developments available to all parties interested in implementing this technology through our licensing program and ensuring there is a worldwide interchangeable standard.”

Tai Sik Lee, KICT president, added, “Tube travel changes the way people live and move, it has the opportunity to unite people. The Republic of Korea continues its tradition of technological advancement and innovation by bringing this technology to life, the government has allocated the necessary resources, we finalized our preliminary research and now are getting ready to implement.”

June 27, 2017

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Kirstie joined the team in early 2017 and brings writing, communications and client experience with her. Now an assistant editor, she produces content for our magazines and websites. Away from the office, you will find her blogging on her lifestyle website or searching the internet for photos of sausage dogs.

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