One of the companies working on Elon Musk's Hyperloop concept has announced that it's ready to commence public testing.
The Tesla and SpaceX chief released a white paper proposing a high-speed transportation system in August 2013. Since then, two startups have committed to making that idea a reality, with testing mentioned at the end of 2015.
One of those companies, Hyperloop Technologies, has just announced some major plans. It's changed its name to Hyperloop One, is set to receive $80 million (£55 million) in venture capital financing, and has formed a number of partnerships with key global transportation, engineerings, and infrastructure companies.
All of this was revealed ahead of today's first public testing of the Hyperloop concept. This will take place in the Nevada desert in front of an invited press contingent.
"Join us as we conduct our very first propulsion open air test," says Hyperloop One's press invite (via Fast Company). "This will be our most substantial engineering test to date, on our way to realizing the full potential of the Hyperloop system."
Hyperloop One expects to be running full-scale tests by Q4 of this year. Indeed, it claims that it could build a full Hyperloop system today, were it not for the prohibitive costs involved at this early point.
Related: What is Hyperloop?
Hyperloop basically involves firing transportation capsules through a giant overground tube. Thanks to the low-pressure environment of the tubes, the capsules will be able to reach speeds of up to 800mph, and to complete a 400 mile journey in just 35 minutes.
Musk conceived the idea due to his own frustration at having to travel between LA and San Francisco for his dual role as CEO of two hot tech companies.
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