PRESS RELEASE: 22 October 2018
Continuum Industries, the UK’s first start-up focused on implementing hyperloop technology, secures initial seed investment to set up operations in Edinburgh.
To make hyperloop a reality, the big challenge now for the technology’s leading developers is to integrate their own technology designs in specific areas like magnetic levitation and propulsion with the rest of the infrastructure that goes into a hyperloop system.
Doing this at scale and delivering the first commercial systems will be no small feat.
We have therefore formed Continuum Industries to develop software that creates a first-of-its-kind ‘digital twin’ of hyperloop technology to help tackle these challenges and support the delivery of hyperloop technology at every stage of the project lifecycle.
We can also announce that we have closed an initial seed round of investment of £0.25m from Gareth Williams, one of the founders of Skyscanner, a billion-dollar travel search business based in Edinburgh.
Gareth’s investment will allow us to spend the next year building out the software’s applications and working closely with others within the hyperloop ecosystem.
We wish to thank the UK Department for Transport too for an innovation grant that allowed us to develop the very first version of our software.
Continuum Industries is made up of former members of the University of Edinburgh’s hyperloop team (HYPED) that built and developed the UK’s first prototype hyperloop pods for the finals of the 2017 and 2018 SpaceX Hyperloop Pod Competition in California.
The team were also the only student team named as one of the winners of the 2017 Hyperloop One Global Challenge, for which they designed a UK hyperloop route.
Sam Gyimah, UK Minister for Universities, Science, Research and Innovation said:
“The future of commuting could be 700mph levitating pods, allowing almost anywhere in the UK to become less than an hour away. What is more, in both hardware and software, the UK has world-leading capabilities in the bedrock of Hyperloop technologies.
The changing nature of mobility, driven by extraordinary innovations, is one of the Grand Challenges identified in our modern Industrial Strategy and I look forward to seeing how Continuum Industries get on in the years to come.”
Gareth Williams, Co-founder and Chairperson, Skyscanner said:
“Continuum Industries builds on 3 years of hard work at HYPED that has yielded impressive results at Elon Musk’s SpaceX Hyperloop Pod competition. I am very pleased to support this exciting start-up in Edinburgh working on bringing Hyperloop technology to realisation.”
Gordon Masterton, Chair of Future Infrastructure, University of Edinburgh said:
“The Hyperloop is pushing at the boundaries of innovative thinking in the field of future infrastructure. The Continuum Industries team is at the cutting edge of technology development in this exciting area. Their entrepreneurial outlook and solid technical understanding is a powerful combination.”
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