The Canadian company TransPod is planning to build an ultra-high-speed transportation line between Calgary and Edmonton, known as a hyperloop. According to the company, it will receive private funding by the end of the year to build the first portion of the line.
The ultimate goal for TransPod is to have residents in Alberta traveling from Calgary and Edmonton at speeds of up to 1,000 kilometers per hour. The residents will be shuttling like pods through magnetic tubes. By 2031 there will a 20-kilometer long hyperloop stretching from downtown Edmonton and the Edmonton airport.
Today, the company unveiled the findings from the feasibility study, which said an initial $1 billion investment proposal was shared with the government. Co-founder of TransPod and CEO Sebastian Grengron said finalizing the study pushed the project into a phase of investment, research, and development. The total cost of the project after the feasibility test was an estimated $22.4 billion. There would also be a required additional $6.7 billion for fixed infrastructure-like stations.
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