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
Nanochon Receives Regulatory Approval from Panamá’s Ministry of Health to Initiate First-in-Human Clinical Study of Chondrograft™17.8.2026 21:44:00 CEST | Press release
Nanochon, a medical device company developing Chondrograft™, a novel patented implant for the treatment of articular cartilage defects of the knee, today announced that it has received regulatory approval from Panamá’s Ministry of Health to initiate its First-in-Human (FIH) clinical study in Panamá. The study will evaluate the safety and performance of Chondrograft™ in patients with focal chondral defects of the knee and represents a major milestone in the company’s clinical and regulatory development strategy. The trial will be conducted at The Panama Clinic in Panamá City under the leadership of Drs. Juan Osorio and Emilio Tufiño, experienced sports medicine surgeons, with Dr. Osorio serving as Principal Investigator for the study. Dr. Osorio stated, “I am pleased to be the Principal Investigator for this important study, and we look forward to contributing the data that will support a larger clinical study and subsequent market entry.” Nanochon selected Panamá for its growing reputa
TOURISE and Oxford Economics Release New Global Report on Tourism Resilience in an Era of Permanent Disruption17.8.2026 16:33:00 CEST | Press release
New analysis shows destinations that assume risk will recover up to 1.5 times faster with global rehabilitation times dropping from 24 months to as little as 10 TOURISE, in collaboration with Oxford Economics, today released a new report, “Resilience in a World that Doesn’t Reset: Redesigning Tourism for an Era of Permanent Disruption.” The analysis of 85 major crises over two decades shows a clear pattern: in a world defined by continuous shocks, destinations that act before disruption hits recover up to 1.5 times faster than those that wait. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260817880835/en/ “In a world that does not reset between crises, disruption is a constant feature of the global tourism landscape,” said His Excellency Ahmed Al-Khateeb, Minister of Tourism of Saudi Arabia and Chairman of TOURISE. “The real test for destinations measures how they prepare for volatility, protect traveler confidence, and mai
The Expensify Visa® Commercial Card Brings New Proactive Spend Controls to 14 Countries17.8.2026 15:00:00 CEST | Press release
New admin-defined spend rules let businesses control how, where, and when every card is used, stopping the wrong spend before it happens instead of cleaning it up after. Expensify, Inc. (Nasdaq: EXFY), the easiest way to manage expenses, travel, and corporate cards, today expanded the reach of Expensify Card spend rules, the market-leading way for businesses to control corporate card spend before it happens. Available to businesses in 14 countries, spend rules let admins decide exactly how, where, and when each Expensify Card can be used, so only compliant transactions go through. Unlike traditional corporate cards that rely on after-the-fact expense review, the Expensify Card enforces policy at the point of purchase. Admins set the rules once, and the card handles the rest. With Expensify Card spend rules, admins can: Lock a card to a subscription. Give each recurring SaaS tool its own virtual card, so a vendor can only ever charge what it should. If the card owner changes teams or le
Riskified Analysis Finds Travel Fraudsters Are Adapting Faster Than Traditional Signals Can Keep Up, With May Flight Risk Up 32%17.8.2026 14:30:00 CEST | Press release
New Travel Industry report reveals sophisticated fraud rings are exploiting trusted customer behaviors across flights, hotels, and travel platforms Riskified (NYSE: RSKD), a global leader in ecommerce fraud and risk intelligence, today released new findings from its Travel Industry Insights report, revealing how sophisticated fraud rings and AI-enabled fraudsters are evolving their tactics across airlines, hotels, and online travel platforms. Riskified’s analysis shows that fraudsters are increasingly adapting their behavior to resemble legitimate travelers, making traditional fraud indicators less reliable and creating new challenges for travel merchants. Riskified’s analysis of hundreds of millions of travel transactions across flights, hotels, and land transportation found that flight fraud risk increased through the first five months of 2026, with May 2026 marking the sharpest year-over-year increase at 32% compared to May 2025. The findings show that sophisticated fraud activity i
PIF Delivers Strong Revenue and Profit Growth in 202517.8.2026 13:54:00 CEST | Press release
Revenue rose 9% to $120 billion while net profit more than doubled to $17 billionCumulative domestic investments reached more than $199 billion since 2021PIF has contributed more than $342 billion to Saudi Arabia’s real non-oil GDP between 2021 and 2025Assets under management exceed $900 billion, up from around $530 in 2021 and $150 billion in 2015 PIF today published its 2025 Annual Report demonstrating strong financial performance and continued progress against its long-term objectives. As a long-term investor with a unique mandate to drive the economic transformation of Saudi Arabia and deliver sustainable financial returns, PIF maintained a diversified portfolio in 2025, balancing returns with national impact and long-term resilience. Maintaining Financial Discipline In 2025, revenue rose 9% year on year to $120 billion, while net profit more than doubled to $17 billion, supported by stronger contributions from maturing portfolio companies. PIF retained over $900 billion in assets
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