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- The competition to deliver “hyperloops” – super-fast, ground-based transportation systems, is heating up.
- Hyperloop Transportation Technologies and Virgin Hyperloop One are going head-to-head in the Middle East.
- HTT’s chairman said it owned the name “hyperloop.”
The competition between hyperloop developers in the Middle East is heating up, with the two main operators — Hyperloop Transportation Technologies (HTT) and Virgin Hyperloop One — sniping over the use of the name “hyperloop” and territorial ambitions.
“We are the original hyperloop, we own the brand hyperloop,” Bibop Gresta told’s “Capital Connection on Monday.”
“We are focused on passengers,” he said. “We are the first company that actually brings this technology to reality, and we are building the first commercial line in Abu Dhabi.”
HTT is among several companies developing the hyperloop. The system works by propelling pods through a large tube, using magnets, at speeds of up to 750 miles per hour.
In the Middle East, HTT’s main competition comes from Virgin Hyperloop One and the pressure is on to see who can deliver a functioning system first.
Meanwhile, Virgin Group CEO Richard Branson told CNBC on Sunday that he wants to see his company’s hyperloop operational in the next two to three year. He said he sees the system connecting cities and countries around the world.
Virgin and Dubai-based port operator DP World also announced plans to transport cargo using the system.
HTT’s Gresta said that he was happy that Virgin had “dropped the hyperloop name” but Branson suggested to CNBC over the weekend that a decision on the name had not yet been reached, saying “whether we actually keep the name hyperloop is something we are questioning because I think this company (Virgin Hyperloop One) is way ahead of all the others.”
HTT has already started construction work on its hyperloop in Abu Dhabi, although its plans to expand the line to connect to other cities, such as Dubai, are uncertain for now.
The Dubai Roads and Transport Authority (RTA) appeared to pour cold water on HTT at the weekend, appearing to dismiss “the validity” of plans — that it said were from HTT — to connect airports in Abu Dhabi and Dubai.