By Ranju Warrier
A regulatory framework for the hyperloop systems will be issued by the Non-Traditional and Emerging Transportation Technology Council within the next six months
The US House of Representatives' decision to pass legislation regulating hyperloop systems has brought the futuristic transport system one step closer to reality, according to Dubai-based DP World’s group chairman and CEO, Sultan bin Sulayem.
A clear regulatory framework for the industry will be issued by the Non-Traditional and Emerging Transportation Technology (NETT) Council in the US within the next six months.
“The decision is a huge vote of confidence that we are all on the right side of history,” said Sulayem.
He added: “The move, which brings hyperloop systems one major step closer to reality, validates our decision to take this technology seriously and support this innovation.”
The futuristic transport system for passengers and goods will expand freight transportation capacity by connecting with existing modes of road, rail, ports, and air transport.
Additionally, the systems will provide connectivity with manufacturing parks, economic zones, distribution centres, and regional urban centres.
Sulayem, who is also the chairman of California-based Virgin Hyperloop, said that the decision will help Virgin Hyperloop take “a leap forward and deliver on a 21st century transportation solution”.
Earlier this month UAE-based Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) inked an agreement with Virgin Hyperloop to research a number of high-tech applications of AI.
As part of the agreement, the organisations will together pursue three core objectives: joint fundamental research in several key AI domains such as computer vision, as well as in cloud computing initiatives and commercial projects in the smart transportation industry.
In March, Virgin Hyperloop marked a significant milestone in the Saudi Arabia, when it was awarded a trade licence by the Saudi Arabia’s Ministry of Investment.
The award was made at the US-Saudi Arabia Business Forum in Washington DC organised by the Ministry, Invest Saudi, the US Chamber of Commerce and the US Commercial Service.
The news followed Virgin Hyperloop One CEO Jay Walder’s announcement that commercial hyperloop transportation systems were likely to be commercially available within the next decade.