Bipartisan Support Accelerates Hyperloop Industry in the US and Assigns NETT Council to Establish Regulatory Framework over the Next Six Months
WASHINGTON, July 07, 2020 (GLOBE NEWSWIRE) — H.R. 2, the Moving Forward Act, passed the US House of Representatives, with multiple provisions moving the hyperloop industry forward at a rapid pace within the United States.
“We applaud hyperloop’s bipartisan supporters for their forward-leaning stance on advanced technologies, including several innovative provisions that will support America’s transportation sector in the 21st century and beyond,” said Sir Richard Branson, Founder of the Virgin Group.
This type of recognition from the US government of hyperloop is the first of its kind, further proving that the US intends to be the leader in this industry. This provision not only acknowledges hyperloop in US Code, but it also directs the Non-Traditional and Emerging Transportation Technology (NETT) Council to issue guidance within 6 months on a clear regulatory framework for the safe deployment of a hyperloop system.
“The inclusion of hyperloop transportation in this legislation is historic and once again establishes the US as an innovation leader, giving us an opportunity not just to rebuild but evolve using transformative and innovative technologies,” said Jay Walder, CEO of Virgin Hyperloop.
Included in the surface reauthorization portion of H.R. 2 is the codification of the Non-Traditional and Emerging Transportation Technology (NETT) Council, which will ensure that new and emerging transportation systems – such as hyperloop – can have a one-stop shop at the US Department of Transportation. Virgin Hyperloop has been working closely with the NETT Council over the last year and a half to advance its technology and ensure that they are able to deploy hyperloop safely and quickly.
When the NETT Council was announced Sir Richard added “I want to thank Secretary Chao for her leadership in setting up this forward-thinking council at DOT. Virgin Hyperloop is eager to continue working with the Secretary and her team…it is clear she wants to be at the forefront of exploring innovative technologies to improve transportation in the United States.”
Bipartisan support from Members of Congress and the Administration has been crucial in the forward progression of the hyperloop industry. The inclusion of the hyperloop provision shows support from Chairman Peter DeFazio (D-OR), but also Members of Congress from both sides of the aisle.
“Codifying [Secretary] Chao’s order establishing the NETT Council and the provision encouraging the development of hyperloops offer a glimpse of [….] innovation and public-private sector collaboration,” said Congressman Rick Crawford (R-AR) during the U.S. House Committee on Transportation and Infrastructure’s markup.
About Virgin Hyperloop
Virgin Hyperloop is the only company in the world that has successfully tested hyperloop technology at scale, launching the first new mode of mass transportation in over 100 years. The company successfully operated a full-scale hyperloop vehicle using electric propulsion and electromagnetic levitation under near-vacuum conditions, realizing a fundamentally new form of transportation that is faster, safer, cheaper, and more sustainable than existing modes. The company is now working with governments, partners, and investors around the world to make hyperloop a reality in years, not decades. Learn more about Virgin Hyperloop’s technology, vision, and ongoing projects here.
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