TRANSPOD
25.8.2020 13:02:07 CEST | Business Wire | Press release
TransPod , the startup that is building the world’s leading hyperloop system (the TransPod system ) to disrupt and redefine commercial transportation, today announced it has signed a memorandum of understanding (MOU) with the Government of Alberta in Canada to support the development of safe, high-speed transportation in Alberta, based on the 1000 km/h TransPod vehicle. The MOU facilitates the process of attracting private investment to the province, in order to build a multi-billion-dollar infrastructure project. The project is estimated to create up to 38,000 jobs over 10 years, diversify Alberta’s economy, improve the efficient movement of people and goods, and reduce Alberta’s carbon emissions by up to 300,000 tonnes per year.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200825005001/en/
The MOU will see Alberta Transportation:
- 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
- Participate in discussions with potential large institutional investors where suitable
No financial commitments or endorsements have been made by Alberta Transportation regarding the TransPod project.
The phases of the Alberta TransPod project are as follows:
- Short-term: feasibility study (2020-2022)
- Short-term: research and development phase (2020-2024)
- Medium-term: test track construction and high-speed tests (2022-2027)
- Long-term: construction of a full inter-city line between Edmonton and Calgary (to begin in 2025)
“Alberta’s government is supporting new and exciting opportunities for job creation and innovation,” said Ric McIver, Alberta Minister of Transportation. “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 on the forefront of the movement of goods and people.”
The TransPod system is being developed to carry passengers and cargo between cities at over 1000 km/h. Fossil-fuel-free and fully electric, it is a new generation of ultra-high-speed ground transportation being developed for construction around the world. It is built on a proprietary and innovative design that leverages aerospace engineering and is bolstered by a global network of engineering partners. The TransPod vehicle’s top speed is faster than a jet, and it travels at ground level in a protected guideway that is immune to weather. With the convenience of a subway that departs every few minutes, TransPod will avoid airline flight diversions, travel faster than a jet, and three times as fast as a high-speed train.
The TransPod vehicle’s innovative and cost-efficient design is a new leap forward for transportation that is clean, safe, cost-efficient, and comfortable. The company is developing this technology with high safety standards in collaboration with the European Union and United States transportation committees.
“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.”
“The space race’s technology led to massive spinoffs worldwide, and our vision for TransPod is to position Canada at a similar level of leadership,” said Ryan Janzen, co-founder and CTO, TransPod. “Future transportation comes from breakthrough innovations — and that’s exactly what we’re doing.”
The TransPod system is being examined by governments and organisations for several projects around the world, and the company is currently in the design and development phase for a testing facility in France. The TransPod vehicle will also be featured in a demonstrator which will be showcased in Canada and France, to unveil new breakthroughs that are part of the 1000km/h TransPod system.
For more information:
TransPod project proposal to the Government of Alberta
About TransPod Inc.
TransPod’s goal is to disrupt and redefine commercial transportation between major cities in developed and emerging markets. The startup was founded in 2015 to build the world’s leading hyperloop system (the TransPod System ) to connect people, cities, and businesses with high-speed transportation that is affordable and environmentally sustainable. TransPod Inc. is headquartered in Toronto, Canada.
For more information, visit https://transpod.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20200825005001/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Sinopec Receives CSR Award at Sino-European ESG Conference in Germany1.7.2026 15:38:00 CEST | Press release
China Petroleum & Chemical Corp. (Sinopec) has received the Corporate Social Responsibility Best Practice Award at the 3rd Sino-European Corporate ESG Best Practice Conference in Mainz, Germany, for its case study on carbon footprint management and low-carbon development. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260701696760/en/ Huang Yiyang (L), Chinese Consul General in Frankfurt, presents the award to a representative of Sinopec. The conference jury said Sinopec has developed a carbon management framework centered on product carbon footprint management, covering the full product life cycle while aligning with both Chinese and European standards. It cited the company’s work with German chemical producer BASF to achieve mutual recognition of carbon footprint accounting methodologies as a milestone that could support greener cooperation across international industrial supply chains. According to the jury, Sinopec’s eff
Vercel and Mercedes-AMG PETRONAS Formula One Team Announce Multi-Year Strategic Partnership1.7.2026 15:30:00 CEST | Press release
The agentic infrastructure platform known for speed is joining forces with one of the world's fastest Formula One teams Today Vercel, the agentic infrastructure company, announced a new multi-year deal with the Mercedes-AMG PETRONAS Formula One Team. Starting with the British Grand Prix July 2 – 5 2026, Vercel branding will appear on the Mercedes-AMG PETRONAS Formula One Team race cars as the partnership begins its first chapter, before expanding significantly across the team ecosystem from 2027 onward. The partnership includes global branding rights, premium hospitality experiences, customer engagement, content creation, and technical collaborations, including plans to evolve the team’s digital platforms to Vercel. “Formula One is where every millisecond matters, every decision counts, and continuous innovation is fundamental to success. Vercel shares that same philosophy,” said Richard Sanders, Chief Commercial Officer, Mercedes-AMG PETRONAS Formula One Team. “The Vercel platform is
OXMIQ Raises $35 Million to Scale OxCore™ Architecture1.7.2026 15:15:00 CEST | Press release
OXMIQ Labs Inc., a unified GPU and AI architecture company founded by Raja Koduri, today closed its $35 million Series A financing, bringing the company’s total capital raised to $60 million. The funding will scale OxCore™, OXMIQ’s licensable GPU architecture that allows semiconductor companies and AI system builders to build custom AI silicon without a full chip program. The round was co-led by Fundomo and Samsung Catalyst Fund, with participation from MediaTek, AM Intelligence Labs, Pegatron Venture Capital, CDIB-TEN, Darwin Ventures, and Morgan Creek Digital, among other financial and strategic investors. OXMIQ’s expertise spans the full AI stack, from renewable power and data center infrastructure to silicon IP, electron-to-token machines (ETMs™), along with the software that runs AI factories and agents. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260701241910/en/ OXMIQ Funding raised to date of $60M after current $3
SamanTree Medical’s Histolog® Scanner Technology Featured in 13 Publications in Special BJU International Issue on Confocal Microscopy in Urology1.7.2026 15:01:00 CEST | Press release
Papers highlight clinical research on use of confocal microscopy for real-time tissue assessment in various urologic procedures SamanTree Medical, a global leader in surgical imaging innovation, today announced that Histolog Scanner confocal microscopy technology has been featured in 13 peer-reviewed clinical papers in a special issue of BJU International, one of the world’s leading journals in urology. The special edition focuses on a growing body of evidence of the role of confocal microscopy in urologic surgery. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260701425845/en/ SamanTree Medical announces that Histolog® Scanner confocal microscopy technology is featured in 13 peer-reviewed clinical papers in a special issue of BJU International. “The special issue represents increasing momentum behind confocal microscopy in urologic surgery,” said Professor Greg Shaw, consultant urologic surgeon at University College London
Regnology to Acquire Fed Reporter, Accelerating U.S. Leadership and Advancing Regulatory Modernization1.7.2026 15:00:00 CEST | Press release
Deal establishes Regnology as a central partner in U.S. regulatory modernization, extending reach to over 4,000 financial institutions Regnology, a leading provider at the intersection of regulatory, risk, and supervisory technology, today announced it has entered into a definitive agreement to acquire Fed Reporter, the market-leading U.S. provider of regulatory reporting solutions for financial institutions of all sizes, including banks, credit unions, and bank holding companies. The acquisition marks a pivotal milestone in Regnology’s U.S. expansion, creating the most comprehensive regulatory reporting coverage across the American financial landscape and extending its reach to more than 4,000 institutions from global banks to community lenders. By combining a proven, cloud-first, agentic-first technology foundation with deeply embedded local expertise, Regnology is uniquely positioned to support more efficient, transparent, and data-driven reporting, while strengthening alignment bet
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom