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    Hyperloop One propulsion system

    Putin Promises Support for Hyperloop One Transport Project - Kremlin

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    Russian President Vladimir Putin promised to support the Hyperloop One project dealing with the high-speed transportation of goods, Kremlin spokesman Dmitry Peskov said on Tuesday.

    MOSCOW (Sputnik) — Putin held talks with Co-founder and Executive Chairman of Hyperloop One Shervin Pishevar within the framework of the St. Petersburg International Economic Forum (SPIEF) 2016 on June 16-18.

    "He [Pishevar] spoke out separately during the meeting with investors. He spoke about the project… President [Putin] expressed support and promised its backing," Peskov told RIA Novosti.

    Peskov said that the issue was not about financial support since the project was an investment one.

    Earlier in the day, Pishevar said that the Russian government and Hyperloop One signed a memorandum of understanding to create the concept of the use of Hyperloop technology in Moscow.

    The Hyperloop concept was proposed by US billionaire Elon Musk in 2012. The technology provides for the high speed transportation of passengers and goods in tubes, in which light aluminum capsules are propelled by linear induction motors and air compressors.

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    St. Petersburg International Economic Forum (SPIEF) 2016, Vladimir Putin, Dmitry Peskov, Russia
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