DP World and Virgin Hyperloop One partner to create new global company that provides hyperloop-enabled cargo systems DP World Cargospeed
Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum attended the launch of DP World Cargospeed, a new global company created through a partnership between global trade enabler DP World and Virgin Hyperloop One , to provide hyperloop -enabled cargo systems to support the fast, sustainable and efficient delivery of palletised cargo, the company said in its press release.
The first initiative of its kind in the world, DP World Cargospeed will provide exceptional service for high-priority, on-demand goods., delivering freight at the speed of flight and closer to the cost of trucking.
DP World and the US-based Virgin Hyperloop One introduced their vision for the future of on - demand freight transportation enabled by DP World Cargospeed at an event hosted by Sultan Ahmed Bin Sulayem, DP World Group Chairman and CEO, and Sir Richard Branson, Virgin Group Founder and Virgin Hyperloop One Chairman, at the historic vessel Queen Elizabeth 2.
Hyperloop is a futuristic mode of passenger and freight transportation in which a pod-like vehicle is propelled through a near-vacuum steel tube, with most of its air removed, at higher than airline speed. Next-generation magnetic levitation technology combined with a low - pressure tube environment enables the pods to move quickly with little friction. Hyperloop can achieve top speeds of up to 300 metres /second, making it two to three times faster than high-speed rail. The technology facilitates autonomous operations designed to reduce human errors and run with minimal delays. Hyper loop is more cost-effective to implement and operate than high-speed rail. Its fully electric and zero direct emissions make it a highly environmentally friendly technology.
DP World Cargospeed systems, enabled by Virgin Hyperloop One technology, will transport high-priority, time-sensitive goods including fresh food, medical supplies, electronics, and more. It will expand freight transportation capacity by connecting with existing modes of road, rail and air transport.
The Virgin Hyperloop One system underpinning DP World Cargospeed is unique in that it doesn’t need to be passenger -only or cargo -only. It is a mixed -use system that fully utilises system capacity and maximis es economic and social benefits. Systems are 100% electric and can be powered by renewable energy, creating a more sustainable solution for cargo transport.