Hyperloop One becomes 'Virgin Hyperloop One' with new investment

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There are some big changes going on with Hyperloop One today.

The innovative system will now be rebranded as Virgin Hyperloop One. The company will rebrand as Virgin Hyperloop One.

"With Virgin Hyperloop One, passengers and cargo will be loaded into a pod, and accelerate gradually via electric propulsion through a low-pressure tube". The Los Angeles-based startup is conducting feasibility studies in Dubai and Finland for the transit system. He described the hyperloop concept as "a cross between a Concorde, a railgun and an air hockey table". Hyperloop has already raised more than $150 million in debt and equity.

The technology is now being tested at the DevLoop site, just outside Las Vegas.

Virgin apparently isn't the only one with an renewed interest in Hyperloop One since that test.

"You may first have heard of the original hyperloop name through Elon Musk", Branson wrote in a blog post announcing the deal.

Hyperloop One has risen to the forefront of those companies, with another, Hyperloop Transportation Technologies, not far behind.

Speaking in July, after the completion of one of Hyperloop One's technology tests, Philippa Oldham, head of transport and manufacturing at the Institution of Mechanical Engineers said "As an engineer, there still seems to be some gaps in the information regarding the risks and safety of the system itself". The lawsuit claimed Hyperloop One, Pishevar and other leaders mismanaged the company's money, hired family members, and threatened cofounder Brogan BamBrogan. It is building a network for underground tunnels to enable much faster transport between cities. In July, Musk - who isn't involved in Hyperloop One - revealed on Twitter that he'd received "verbal government approval" to build a hyperloop capable of ferrying passengers between NY and Washington in 29 minutes.

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