TRANSPOD
29.3.2022 13:02:07 CEST | Business Wire | Press release
TransPod , the startup building the TransPod Line – a new ultra-high-speed transportation system, to disrupt and redefine commercial transportation – today announced the next phase of the multibillion-dollar infrastructure project in Alberta, Canada. Broughton Capital Group (“BCG”), in cooperation with China-East Resources Import & Export Co. (“CERIECO”), have agreed in principle to provide a combined US$550M finance and Master EPC arrangement respectively to accelerate development of a TransPod Line between Edmonton and Calgary and drive economic growth in the region. An already-released feasibility study on the TransPod Line confirmed that this ultra-high-speed transportation project will create up to 140,000 jobs and add $19.2B to the region’s GDP throughout construction, and the Master EPC arrangement is expected to involve significant contribution from Canadian contractors.
“As the first and only company to confirm such finance for a multibillion-dollar tube-transportation infrastructure project, TransPod is proud of its commitment to driving growth in Alberta through true innovation and partnership,” said Sebastien Gendron, co-founder and CEO, TransPod. “The construction and operation of a TransPod Line will help Albertans move around easily, create new jobs, and facilitate investment into the region. With the confidence of our investors and the Government of Alberta, we will deliver on a joint vision of a progressive, sustainable, and growing economy.”
Key highlights from the Alberta TransPod feasibility study include the following:
- Substantial economic growth: The Alberta TransPod Line will add $19.2 billion (or 6.25 per cent) to the province’s GDP by the year 2030.
- Significant employment growth: The Alberta TransPod infrastructure project will create 15,600 jobs per year, totaling 140,000 jobs over nine years.
- Improved affordability for travellers: Riding TransPod will take 45 minutes from Calgary to Edmonton, at an estimated ticket cost of $90 CAD, compared to more than three hours spent driving or a plane ticket costing about $162.
- Reduction in carbon footprint: Over the course of a year, the expected ridership between Calgary and Edmonton will reduce CO2 emissions by 636,000 tonnes per year, or the equivalent of planting a forest four times bigger than Calgary.
“One of BCG’s strategic goals is to invest in innovative projects and our alignment with CERIECO for the TransPod project suits that objective strongly and bodes well for future projects. We are looking forward to moving this forward,” said Broughton Capital Group.
The next phases of the Alberta TransPod project are as follows:
- Short-term: Research and development; construction permit; environmental assessment; land acquisition (present-2024)
- Medium-term: Test track construction, high-speed tests, and certification (2023-2027)
- Long-term: Construction of a full inter-city line between Edmonton and Calgary (to begin in 2027)
“Our partnership with BCG and TransPod offers strong alignment of strategic goals, a complimentary approach to infrastructure development that we believe will add significant value across innovative projects in Canada,” said CERIECO.
To support regional job development and provide employee training for the TransPod Line in Alberta, TransPod has partnered with Building Trades of Alberta to leverage its regional expertise and partner network.
“TransPod is an exciting, game-changing leader for the future of green infrastructure and transportation in Canada and beyond,” said Terry Parker, Executive Director, Building Trades of Alberta. “Not only will it help Canada tackle its carbon goals, the Alberta TransPod project will create thousands of well-paying, community-supporting jobs for Alberta’s skilled trades workers, including those from Indigenous communities, women, new Canadians, and apprentices. The Building Trades of Alberta — and its more than 60,000 members — is ready and excited to be part of this project.”
Colliers Capital Markets , a subsidiary of Colliers International, acted as financial advisor to TransPod.
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 tube-transportation system (the TransPod Line ) to connect people, cities, and businesses with high-speed transportation that is affordable and environmentally sustainable. TransPod Inc. is headquartered in Toronto, Canada.
Visit www.transpod.com to learn more.
About Broughton Capital Group
Broughton Capital Group (BCG) is a UK based project finance funder, in which our specialism as arranger and provider of debt finance as senior lender, is with a focus on a variety of project sectors worldwide in both the public and private sectors. We are highly experienced with a first-class team internally and externally. As an alternative finance provider, we aim to provide finance solutions not always available in the conventional project finance market and as such we strive to be creative, flexible and competitive in the finance terms we can offer as lender.
Visit www.broughton-capital.com to learn more.
About CERIECO
Established in 1993, CERIECO is a Chinese state-owned enterprise with projects in over 30 countries. CERIECO is a general EPC contractor with specializations in infrastructure and real- estate construction, and export credit finance. CERIECO operates in Canada under CERIECO Canada Corp.
Visit www.cerieco.com to learn more.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220329005062/en/
Link:
Social Media:
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
VerSprite Launches Fork and Knife: AI-Driven Threat Modeling and Adversarial Testing Built for the Speed of Modern Software26.6.2026 23:28:00 CEST | Press release
Powered by the risk-centric PASTA methodology and two decades of accredited offensive security, the integrated platform lets enterprises threat model in a security sprint—then prove the risk through AI-led, human-on-the-loop testing. VerSprite, a global leader in risk-based threat modeling and the firm behind the PASTA (Process for Attack Simulation and Threat Analysis) methodology, today announced the general availability of Fork (www.forktm.com), a continuous application threat modeling platform, alongside Knife, an AI-led, human-on-the-loop adversarial testing platform for web applications and web API endpoints. Together, the two products operationalize a new model for product security—one where applications are securely designed, continuously modeled, and actively tested as part of the build process itself. The launch addresses a problem every security leader knows but few tools have solved: threat modeling is essential, never more so than in an AI-driven era, yet it has remained s
Venture Global Announces Closing of $1.5 Billion Senior Secured Vessel Financing Facility26.6.2026 22:30:00 CEST | Press release
Venture Global, Inc. (NYSE: VG) announced today that its wholly-owned subsidiary, Venture Global Shipping Holdings, LLC (“VGSH”), has entered into a Credit and Guaranty Agreement providing for a senior secured term loan facility (the “Facility”) in an aggregate principal amount of up to $1,500,000,000. The Facility will mature on June 26, 2032. Deutsche Bank and ING acted as coordinating lead arrangers for the Facility. ING also serves as facility agent and security trustee. VGSH intends to use the net proceeds from the Facility for general corporate purposes, including to reimburse Venture Global LNG, Inc. for payments previously made by it or its affiliates in connection with the acquisition of nine LNG carriers, funding certain reserve accounts, and paying transaction fees and expenses. About Venture Global Venture Global is an American producer and exporter of low-cost U.S. liquefied natural gas (“LNG”) with over 100 MTPA of capacity in production, construction, or development. Ven
Andersen Consulting tilføjer House of Code for at styrke teknologi- og dataløsninger26.6.2026 20:01:00 CEST | Pressemeddelelse
Andersen Consulting forstærker sine kompetencer inden for teknologisk transformation gennem en samarbejdsaftale med House of Code, en global virksomhed med hovedkvarter i USA, der specialiserer sig i datadrevne platforme, automatisering og agentbaserede ai-løsninger. House of Code blev stiftet i 2001 og udvikler softwareløsninger samt yder rådgivning til energihandels- og finanssektoren med kunder, der spænder over hedgefonde, kapitalfonde og forsyningsvirksomheder. Virksomheden besidder dyb ekspertise inden for energihandel og risikostyring og hjælper organisationer med systemimplementering, forretningstransformation, dataautomatisering og ai-underbygget modernisering af arbejdsgange. Deres proprietære platform, Enterprise Platform for Integrated Compliance (EPIC), skaber en mere effektiv datastyring, automatiserer rapporteringsprocesser, forbedrer den driftsmæssige gennemsigtighed på tværs af virksomhedssystemer og skaber et fundament for opbygning af intelligente, agentbaserede arbe
Capco Recognized by OpenAI for Innovation and Responsible AI Leadership26.6.2026 20:00:00 CEST | Press release
Receives AI Governance & Risk Excellence Award at OpenAI Partner SummitCapco’s UK AI Lab wins OpenAI Codex Hackathon Global management and technology consultancy Capco, a Wipro company,has been recognized by OpenAI for both AI innovation and responsible AI leadership. Capco received the AI Governance & Risk Excellence Award at the recent OpenAI Partner Summit 2026 in San Francisco, highlighting Capco’s ability to deliver enterprise-grade AI outcomes in highly regulated environments. The award recognizes Capco’s expert advantage when helping financial services and energy organizations to scale AI with confidence, balancing innovation with strong governance to reduce risk, strengthen compliance and improve customer outcomes. This award follows Capco winning the OpenAI Codex Hackathon, where its UK AI Lab competed against more than 30 teams and over 100 participants from across the OpenAI partner ecosystem. Capco's winning entry Sentra – a consulting-led, AI-powered retail banking solutio
Incyte Announces Positive CHMP Opinion for Opzelura® (ruxolitinib) Cream for the Treatment of Adults with Moderate Atopic Dermatitis26.6.2026 13:30:00 CEST | Press release
If approved, Opzelura® (ruxolitinib) cream will be the first steroid-free, topical JAK treatment option in the European Union (EU) for adults with moderate atopic dermatitis (AD) for whom standard topical therapies have failedAD, the most common type of eczema which affects 230 million people globally,1 is a chronic, recurring, inflammatory and highly pruritic (itchy) skin condition that can have a significant impact on daily life2Phase 3 TRuE‑AD4 data supporting the positive CHMP opinion demonstrated that ruxolitinib cream met both co‑primary endpoints at Week 8, maintained disease control with as-needed treatment through Week 24 and was well tolerated3,4,5 Incyte (Nasdaq: INCY) today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has issued a positive opinion recommending the approval of Opzelura® (ruxolitinib) cream for the treatment of moderate atopic dermatitis (AD) in adult patients for whom topical corticosteroids
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