Californian high-tech firm invests in Cargo sous terrain
The California-based high-tech firm Hyperloop One has become the first international partners of Cargo sous terrain (CST), the consortium which aims to develop an underground cargo distribution system in Switzerland. Hyperloop One will invest in the technology and further development of the CST project.
Rob Lloyd, CEO of Hyperloop One, said: “Hyperloop One is delighted about the successful conclusion of this partnership. We are convinced that CST will change the future of logistics from the ground up.”
Hyperloop One has venture capital financing of $120m to invest in the development of ground-breaking technologies in passenger and goods transport.
In a statement issued earlier this month, CST said: “By reaching this agreement, CST has added to its numerous Swiss supporters and succeeded in securing its first partnership with an international investor with forward thinking technological know-how and a special interest in the innovation of CST.
“The mutually defined goal is to further develop the CST logistics concept and cooperate in the technical realisation process.
“The collaboration will focus on the construction of logistics tunnels, vehicle technology and propulsion systems, steering and operating concepts as well as city logistics, the local distribution of goods in cities.”
