The loop blends magnetic levitation with a low-pressure tube to minimize air drag.
“The creation of regulations and legal frameworks are critical components to our ongoing feasibility study between Chicago and Cleveland,” Grace Gallucci, executive director of Northeast Ohio Areawide Coordinating Agency, said in a statement. “We look forward to continuing to work alongside HyperloopTT and their partners to implement these guidelines and policies into a framework specific to the Great Lakes Hyperloop.”
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“Last year we told the world that HyperloopTT’s system was insurable,” Claudia Hasse, head of special enterprise risks at Munich Re, said in the same statement. “We are now able to insure their first commercial projects around the world and are working together to include our services into HyperloopTT’s technology license.”
“HyperloopTT is the first company to have an insurable commercial system,” said Dirk Ahlborn, chief executive of HyperloopTT. “We have proven the technology to be feasible at every level and through our work with these partners, stakeholders and governments we are creating the safest, most secure system possible.”