JumpstartFund’s Hyperloop Signs Agreement with Abu Dhabi’s Department of Municipal Affairs & Transport

On Monday, Abu Dhabi’s Department of Municipal Affairs & Transport announced it signed an agreement with Jumpstartfund’s Hyperloop Transportation Technologies, Inc. (HTT) to undertake a feasibility study to connect Abu Dhabi and Al Ain using the Hyperloop system.

handshakeSharing more details about the agreement, Eng. Khalid Mohamed Hashim, Acting Executive Director of Land Transport Sector at DMAT in Abu Dhabi, stated:

“Through this agreement with HyperloopTT, we aim to study the feasibility of developing of the first Hyperloop™ system, which is one of the latest and most advanced transportation technologies that is expected to reach a top speed of 1,200 kilometers per hour. We hope to take advantage of this technology to connect the cities of Abu Dhabi and Al Ain, which will result in a travel time of about eight to twelve minutes. The reinforcement of connectivity between Abu Dhabi and Al Ain is one of the strategic objectives of the Emirate of Abu Dhabi, aiming to stimulate economic, social and touristic development between Al Ain and its suburbs and the capital city. In addition to direct benefits, higher connectivity between two largest cities in the Emirates offers numerous indirect benefits, such as less reliance on private vehicles and traditional public transport modes, which means creating sustainable transport that can lessen the negative impact of transport related emissions in the Emirate.”

Bibop G. Gresta Chairman and Co-Founder of HTT commented:

Bibop Gresta, COO of HTT“We are pleased to cooperate with the Department of Municipal Affairs and Transport to conduct a study on high-speed travel between Abu Dhabi and Al Ain. By leveraging a global team of experts and professionals, we are working to achieve a technical breakthrough in the field of transportation in Abu Dhabi. Our team’s collaborative efforts from our offices in the UAE and around the world are focused on delivering humanized mobility through the development of the world’s fastest, safest and most energy-efficient transportation solution. We see in this agreement a significant opportunity that will allow us to bring to life our vision of providing valuable solutions with a positive impact on safe, rapid and effective transportation. It will result in providing a sustainable solution – reducing the carbon footprint while enriching the lives of people in various communities here in Abu Dhabi.”

The news of Abu Dhabi’s Department of Municipal Affairs & Transport and Hyperloop Transportation Technologies, Inc. comes after Hyperloop received investments by EdgeWater totaling $30 million. This is in addition to previous in-kind support EdgeWater has provided to the fund. HTT states it has now secured $31.8 million in cash investment.


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