The agreement continues the efforts to support strategic projects in the emirate, according to the Abu Dhabi Vision 2030
Abu Dhabi, January 22, 2017
The Office of His Highness Sheikh Falah Bin Zayed Al Nahyan has signed a strategic partnership agreement with Hyperloop Transportation Technologies (HTT), as part of its support for the project to link the cities of Abu Dhabi and Al Ain via Hyperloop technology. The partnership will allow the company to accelerate the pace of its project, which follows the study agreement signed between HTT and the Abu Dhabi Department of Municipal Affairs and Transportation (DMAT) in November last year.
Commenting on the announcement of the strategic partnership, Moustafa Samir – Advisor at the Office of His Highness Sheikh Falah Bin Zayed Al Nahyan – said: “His Highness’ patronage of HTT is a confirmation of his interest in supporting strategic development projects that will strengthen the position of the emirate of Abu Dhabi, both internationally and regionally. In line with the Abu Dhabi 2030 vision, the emirate is keen to take a leading role in the launch and adoption of initiatives and projects that are sustainable and based on the latest technologies and innovations.”
Samir added: "The HTT project to link the cities of Abu Dhabi and Al Ain is an example of such an initiative. It promises to support and develop the emirate’s infrastructure, and contribute to driving economic and social activity in Abu Dhabi, and in Al Ain in particular."
Bibop Gresta, Chairman at HTT, commented: “We have had the great pleasure of working alongside His Highness Sheikh Falah Bin Zayed Al Nahyan to bring this project to fruition, and we are immensely grateful for his ongoing trust in us. His involvement with HTT is both crucial and highly valued by every team member, as it will allow us to align ourselves with Abu Dhabi’s vision and accelerate the pace of our exciting project to connect Abu Dhabi with Al Ain via Hyperloop.”
Dirk Ahlborn, CEO of HTT, said: “For all of our supporters and team members, gaining this recognition and support is a meaningful milestone in HTT’s journey, as it is a consolidation of our relationship with the Government of Abu Dhabi and His Highness Sheikh Falah Bin Zayed Al Nahyan. We are honored to be a part of the emirate’s growth story, and to be working to achieve a technical breakthrough in the field of transportation in Abu Dhabi.”
The sponsorship from the office of His Highness Sheikh Falah Bin Zayed Al Nahya is the latest in a string of significant contributions that have allowed HTT to surpass $100 million in total investments. To date, HTT has received a total of $31.8 million in cash, from different stakeholders around the world, as well as $26 million worth of man-hours and services. HTT’s land rights valued at more than $22 million, and an additional $27 million of commitments and in-kind investments have also been confirmed by several companies that have joined the team. HTT currently has over 800 members, including over 600 individual team members and 44 companies in over 35 countries.
Following the agreement signed by HTT and DMAT in November 2016, the coming months will see the organizations undertaking important work including route analysis, feasibility studies, cost estimates and a development schedule. HTT is the only initiative of its kind that has the support of the government of Abu Dhabi, and with the sponsorship of His Highness Sheikh Falah Bin Zayed Al Nahyan the company is celebrating another momentous step towards the realization of its ambitious project.
Hyperloop Transportation Technologies, Inc. (HTT) was founded in November, 2013, birthed of JumpStartFund—a unique crowdfunding and crowdsourcing incubator platform that uses collective knowledge and assets to make ideas like Hyperloop™ a reality. HTT is a collaborative organization built within the egalitarian ecosystem of a company that values every one of its contributors—both individual and entity. Collaborations with groups such as Atkins, Leybold Corporation, and Deutsche Bahn have resulted in tremendous advancement of the Hyperloop™ transportation system, setting the stage for commitments to installations in Quay Valley, California, Abu Dhabi, U.A.E., Brno, Czech Republic, and the nation of Slovakia. More agreements are set to be formally announced during 2017.
HTT has an exclusive agreement with Lawrence Livermore National Laboratory for use their passive magnetic levitation system as the core of low-cost, safety-conscious construction and design in the Hyperloop™. The company is partnered with more than 600 professional team members who provide the company with engineering, physics, legal, human resources, media relations, logistics, and construction talent to fuel a company that is uniquely collaborative and talent-laden. In support of these endeavors and the global team, HTT announced the surpassing of $100 million in investments in December of 2016.
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© Press Release 2017