HTT announces investments totalling over $100 million which includes the closing of an equity investment of $31.8 million along with total in kind investment and land value of $75 million.
Dubai: Jumpstartfund’s Hyperloop Transportation Technologies (HTT) received an equity investment from EdgeWater Investments of $30 million. This investment is in addition to previous investments including several million from individual team members along with numerous other contributions.
To date, HTT has received $31.8 million total in cash, $26 million in man-hours and services. Land rights to HTT are valued at more than $22 million. An additional $27 million of commitments and in kind investment have also been confirmed by several companies that have joined the team. These companies are Carbures Europe SA, the leading composite manufacturer and supplier for airplane manufacturers worldwide; WS Atkins and Partners, the leading global construction engineering firm, responsible for many renowned projects around the world like the Dubai Metro as well as the Burj Khalifa; Anomaly Communications LLC, the leading brand and marketing firm; Reflekt GMBH, Europe’s leading AR and VR company, involved in the development of HTT’s augmented windows; Leybold Vacuum, the inventor of the vacuum pump and now part of Atlas Copco, together the largest manufacturer in the world for vacuum equipment.
As of this writing, Hyperloop Transportation Technologies has over 800 members consisting of over 600 individual team members and 44 companies in over 35 countries, in the likes of top rated international law firm Paul Hastings, one of Austria’s most innovative software developer Catalyst, and PriestmanGoode, the world’s leading travel and transport design consultancy. Most of these contributors are working in exchange for stock options of the company.
“Hyperloop Transportation Technologies is more than a company, it is a movement,” said HTT CEO Dirk Ahlborn. “We have many people who followed their passion and joined the company at the beginning, working only in exchange for stock options. This latest investment makes their options worth millions.”
“We are on track with our progress to date. We plotted a course and maintained it. The equity funding and in-kind investment from these respected industry leaders is validation of our model, and prepares us for our next steps,” said HTT Chairman Bibop Gresta.
“Hyperloop Transportation Technologies model is unique,” said Joel Ornstein, Chairman of EdgeWater Investments Europe. “The company has tremendous momentum, is building a strong value for investors while being smart in utilizing cash normally necessary in these kind of projects.”
“Carbures is a leading expert in composite fuselages, the hyperloop transportations system is taking advantage of existing technologies we have developed” said Carbures Chairman and Cofounder Rafael Contreras.
“Collaborating with entrepreneurial companies like HTT is essentially the reason why Anomaly exists today. Working with them to create a cutting-edge brand and vision for the future of transportation has been immensely exciting for us,” said Aisea Laungaue, Anomaly Partner & Chief Strategy Officer.
“As a close collaborator with HTT we have been pleased to work to bring the Hyperloop to reality,” said Julian Hill, regional managing director of Atkins rail capability.
“We have been working closely with HTT for more than a year optimizing a variety of tasks and challenges surrounding the entire Hyperloop Project. In doing so, we have been able to identify a variety of synergies between our companies which has strengthened our business relationship. For us, the investment is a clear sign to further improve our cooperation and development in the constantly evolving transport-tech environment,” says Kerim Ispir, COO of RE’FLEKT.
“Leybold’s team and experience as the world leader in vacuum technology, is capable of guaranteeing safe and cost effective internal air pressure maintenance,” said Carl Brockmeyer, Director of Business Development for Leybold. ”We have been successfully involved in more challenging vacuum projects like the Cern Hadron Collider in Switzerland and are bringing this expertise to HTT.”
About Hyperloop Transportation Technologies:
Founded in 2013, two weeks after publication of Musk’s whitepaper, by JumpStarter Inc., utilizing its unique crowd collaboration platform, U.S.-based Hyperloop Transportation Technologies, Inc. (HTT) is a global team focused on removing barriers of speed and congestion in transportation. HTT melds technology, breakthrough innovation, and the power of a global community of passionate professionals to bring disruptive innovation to the public transportation industry. HTT was the first to rise to the challenge and is pursuing a vision that pairs a reduced carbon footprint with an increased sense of connection across the planet.