Hyperloop is a project envisioned by engineer and inventor Elon Musk. In short, the goal is to build a high-speed transportation system using a low-pressure tube train, with a top speed of 800 miles per hour (1,300 km/h). Hyperloop Technologies and Hyperloop Transportation Technologies are both research companies looking to turn Musk’s vision into reality. The former company has undergone a seed round led by SherpaVentures, while the latter is crowdsourced.
The company issued a press release yesterday from newly appointed CEO Rob Lloyd, former Cisco president of sales and development.
Lloyd called the Hyperloop vision “compelling and disruptive” as well as “the most transformative new mode of transportation that the world has seen in decades.” He also announced that his team consists of more than 50 full-time employees across engineering, design, manufacturing, legal, and human resources.