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Ukraine, Hyperloop sign cooperation memorandum

Ukraine, Hyperloop sign cooperation memorandum

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Ukraine's ministry of infrastructure and Hyperloop Transportation Technologies signed the memorandum on cooperation. The ministry's press service reported this on Thursday evening. 
'Firstly, we will be jointly developing the technology; secondly, we agreed on the joint search of investors for this project. It should be commercially successful, instead of being another fancy idea, which is well funded by the government. It should be an absolutely transparent business model, which generates the income', Infrastructure Minister Volodymyr Omelyan said as quoted by his agency's press service. 

According to him, the Ukrainian technologies may be used worldwide.
'In the world where countries and companies compete in speed and convenience of logistics, Ukraine may appear a winner, if it offers modern infrastructure solutions and becomes the bridge to connect Europe and Asia', Omelyan said.
Liga.net news agency also quoted Omelyan who said that Hyperloop's technologies may be implemented in Ukraine in the period from five to ten years.
A proposed mode of passenger and/or freight transportation Hyperloop first used to describe an open-source vactrain design released by a joint team from Tesla and SpaceX. Elon Musk's version of the concept, first publicly mentioned in 2012, incorporates reduced-pressure tubes in which pressurized capsules ride on air bearings driven by linear induction motors and air compressors. A number of routes have been proposed for Hyperloop systems that meet the approximate distance conditions for which a Hyperloop is hypothesized to provide improved transport times. Route proposals range from speculation described in company releases to business cases to signed agreements.
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