HyperloopTT moves forward with regulatory framework

HTT Capsule 19HTT Capsule. (Image source: HyperloopTT)Hyperloop Transportation Technologies has announced the creation of the first set of Hyperloop core safety requirements and certification guidelines along with the first insurance framework for HyperloopTT worldwide systems

The announcement came in partnership with the global testing, certification and inspection company TÜV SÜD and Munich Re, one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions.

As construction moves forward at different locations around the world, HyperloopTT has reached major milestones on two of the biggest hurdles remaining for the new transportation system such as regulation and insurance.

At a private meeting held at TÜV SÜD’s global headquarters in Munich, Germany, several of HyperloopTT’s partners and stakeholders, together with government representatives, were introduced to the first set of the new guidelines and products. Additionally, a roadmap for joint creation and adoption into a final legal framework for regulating the construction and safe operation of Hyperloop systems was also discussed where representatives from Ukraine, China, France and the US, all of whom have existing agreements with HyperloopTT, attended.

“TÜV SÜD has been working intensively with HyperloopTT over the past year,” said Ferdinand Neuwieser, CEO of TÜV SÜD Industrie Service GmbH. “TÜV SÜD will contribute to making the innovative technology of Hyperloop reliable and safe. The potential risks for passengers and others will be reduced to a minimum. Furthermore, the guideline will form a strong basis for standardisation, regulation and certification of Hyperloop systems,” Neuwieser added.

The final version of the guideline is expected to be published in Q1 2019.

“Hyperloop will change transportation as we know it,” said Volodymyr Omelyan, minister of the infrastructure of Ukraine. “It is our responsibility to make sure that future technologies are regulated and safe, and today represents the foundation of a safe and reliable commercial Hyperloop system.”

“The creation of regulations and legal frameworks are critical components to our ongoing feasibility study between Chicago and Cleveland,” said Grace Gallucci, executive director of Northeast Ohio Areawide Coordinating Agency.

“HyperloopTT is the first company to have an insurable commercial system,” said Dirk Ahlborn, CEO 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.”

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