The government of Alberta and TransPod have signed a memorandum of understanding (MOU) for the development of a high-speed transportation option – a hyperloop – in Alberta.
The fully electric TransPod vehicle is designed to carry people and goods at 1,000km/h (621 mph) on a hyperloop system.
“Alberta’s government is supporting new and exciting opportunities for job creation and innovation,” said Ric McIver, Alberta Minister of Transportation.
The MOU facilitates the process of attracting private investment to the province to build a multi-billion-dollar infrastructure project. The province made no financial commitment to the project development, but will, through the MOU:
- Support TransPod undertaking further study on the feasibility of developing its technology in Alberta;
- Share available transportation data as appropriate that may assist TransPod in assessing the feasibility of its technology;
- Work with TransPod officials to identify suitable land that can safely accommodate a test track; and
- Participate in discussions with potential large institutional investors where suitable.
“By supporting TransPod’s feasibility study, Alberta Transportation will provide important information contributing to the research, development, testing and construction of a full inter-city TransPod line between Edmonton and Calgary. We look forward to seeing this work put Alberta at the forefront of the movement of goods and people,” said McIver.
The TransPod plan is divided into short-, medium- and long-term phases beginning with a feasibility study and research and development phase. Next, TransPod would like to build a test track and perform high-speed tests, which the company sees occurring between 2022-2027. The final step would be the construction of a full intercity Edmonton to Calgary line that would begin in 2025.
“Alberta’s leadership mindset and partnership with TransPod firmly places it at the cutting edge of transportation innovation,” said Sebastien Gendron, co-founder and CEO, TransPod. “Through this strategic agreement that secures the province’s economic future without having to commit any taxpayer dollars, the government of Alberta is investing in improving growth and quality of life in the region.”
