Hyperloop Transportation Technologies (HTT) announced that it has signed an agreement with the city of Toulouse, France, otherwise known as Aerospace Valley. Toulouse will provide a 3,000 square meter (37,674 sq. ft.) facility along with outdoor terrain. This puts HTT in a good position to take advantage of the large pool of aerospace expertise in the region.
“Hyperloop Transportation Technologies represents the cutting edge of transportation,” said Jean-Luc Moudenc, Mayor of Toulouse and President of Toulouse Métropole. “This new collaborative corporation is already having a big impact on Europe and the rest of the world. We look forward to the exciting advancements that HTT will develop here.”
HTT COO Andres De Leon said of it, “Our close relationship with the local government is exactly what is needed to implement Hyperloop systems in Europe. … While developing our technology we will also work together to create the necessary regulatory framework for the system.”
The new HTT Toulouse Research and Development Facility will be located at the Francazal Airport, a former military base being converted into a larger Mobility innovation Park by Toulouse Métropole. With a population of 1.3 million people, Toulouse already boasts a robust presence of aerospace companies including Airbus, the Galileo positioning system, the SPOT satellite system, Airbus Group (formerly EADS), and CNES’s Toulouse Space Centre (CST), the largest space center in Europe.
The new agreement closely follows the closing of more than $100 million in in-kind and equity investment. This is the fourth in a series of deals that Hyperspace Transporta has signed directly with governments. This series of deals includes development in Brno, Czech Republic in connection to Prague and Bratislava; development in Slovakia; and a strategic partnership deal with the Department of Municipalities and Transportation of Abu Dhabi to develop a route connecting the city of Abu Dhabi with the neighboring city of Al Ain.