EIT InnoEnergy Annual Report 2019
2.1 ASPIRATIONAL INNOVATIONS
In April, Hardt Hyperloop signed a strategic deal with EIT InnoEnergy, Europe’s sustainable energy innovation engine. A sizeable investment, introductions to EIT InnoEnergy’s ecosystem of 500+ industry partners as well as access to its commercial resources, helped Hardt Hyperloop to fast track the demonstration of Europe’s first hyperloop test facility and much more in 2019. At a "Grand Reveal" event in June, EIT InnoEnergy -backed Hardt Hyperloop revealed break-through Hyperloop Lane Switch (HLS) technology. The lane-switching technology allows hyperloop vehicles to change from one lane to another without additional or moving components. This enables the vehicles to retain their high speeds, effortlessly switch routes, and merge in and out of the network. The completion of the HLS marks both the end of a testing phase and the beginning of a much larger testing facility titled the "European Hyperloop Centre". The first test phase assessed fundamental hyperloop technologies including magnetic levitation, low pressure environments, a propulsion system, cargo/passenger weight simulation, and lane-switching technology. In October, an international business consortium led by Dutch clean energy conglomerate Koolen Industries made a multi-million-euro investment in Hardt Hyperloop. This investment round was backed by the renowned German fund Freigeist Capital, multiple Dutch and Belgium investors, and one of the first engineers of Uber. The company has raised more than ten million euros to date. With this latest investment, the company is getting ready for the next step: to realise the European Hyperloop Center, a three kilometer hyperloop test facility to prove hyperloop technologies at high speeds.
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Tim Houter, CEO, Hardt Hyperloop This partnership will pave the way for several big projects that will ensure a successful commercial implementation of our hyperloop solution. It’s great to have such a broad and international group of investors who will help with local developments, as well as having the continued support of our first investors.
