Hyperloop Transportation Technologies has reached key milestones for two of its biggest hurdles: regulation and insurance
Hyperloop Transportation Technologies (HyperloopTT) has banded together with diverse companies, stakeholders and governments to produce the first set of Hyperloop core safety requirements and certification guidelines along with the first insurance framework for its systems worldwide.
As construction moves forward at different locations around the world, HyperloopTT said it had reached key milestones on two of the biggest hurdles remaining for the new transportation system: regulation and insurance.
Working with testing, certification and inspection company TÜV SÜD and insurance provider Munich Re, HyperloopTT claims it is the first company to be able to offer an insurable and “viable” regulatory solution for a commercial system.
At a private meeting held at TÜV SÜD’s global headquarters in Munich, Germany, several of HyperloopTT’s partners and stakeholders, together with government representatives, were introduced to the first set of the new guidelines and products.
“In order to bring Hyperloop to reality we have sought out and formed alliances with industry leaders to provide the complete solutions for our systems”
Additionally, a roadmap for joint creation and adoption into a final legal framework for regulating the construction and safe operation of Hyperloop systems was discussed. In attendance were representatives from Ukraine, China, France, and the United States all of whom have existing agreements with HyperloopTT.
“In order to bring Hyperloop to reality we have sought out and formed alliances with industry leaders to provide the complete solutions for our systems,” said Bibop Gresta, chairman of HyperloopTT. “Now we invite other nations to join these pioneers.”
“TUV SUD has been working intensively with HyperloopTT over the past year,” said Ferdinand Neuwieser, CEO of TÜV SÜD Industrie Service. “As a global leader in this field, TÜV SÜD will contribute to making the innovative technology of Hyperloop reliable and safe. The potential risks for passengers and others will be reduced to a minimum.”
The guideline will also form a strong basis for standardisation, regulation and certification of Hyperloop systems. The final version of the guideline is expected to be published in Q1 2019.
“HyperloopTT is the first company to have an insurable commercial system,” added Dirk Ahlborn CEO of HyperloopTT. “We have proven the technology to be feasible at every level and through our work with these partners, stakeholders, and governments we are creating the safest, most secure system possible.”
In a separate announcement, European hyperloop company, Hardt Hyperloop, partnered with UNStudio to present its vision for the urban integration of the hyperloop in cities and towns and the “station of the future” at the inaugural HyperSummit which took place in Utrecht, the Netherlands, where travel between Amsterdam and Frankfurt could be achieved in 53 minutes.
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