The Government of Alberta in Canada and TransPod have signed a memorandum of understanding (MOU) to support the development of TransPod’s 1,000kmph hyperloop transportation system to connect the cities of Edmonton and Calgary.

The MOU allows TransPod, the startup that is building the TransPod system, to initiate the process of attracting private investment for the multi-billion-dollar project.

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The TransPod transportation system is being developed to carry passengers and cargo in a low-pressure tube environment at 1,000kmph.

The fossil-fuel-free, fully-electric system is touted to be a new generation of ultra-high-speed ground transportation that is being developed for construction around the world.

As part of the MOU, Alberta will support TransPod in undertaking further study on the feasibility of developing its technology in the province, share transportation information that may assist the company, work with TransPod’s officials to identify suitable land that can facilitate a safe track testing and take part in discussions with potential investors.

Alberta Minister of Transportation Ric McIver said: “By supporting TransPod’s feasibility study, Alberta Transportation will provide important information contributing to the research, development, testing, and construction of a full inter-city TransPod line between Edmonton and Calgary.”

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TransPod said that the government has not committed any financing to the project, which will be executed in phases: feasibility study (2020-2022), research and development phase (2020-2024), test track construction and high-speed tests (2022-2027) and construction of a full inter-city line between Edmonton and Calgary (to begin in 2025).

The project is expected to create up to 38,000 jobs over 10 years and reduce carbon emissions of Alberta by up to 300,000 tonnes annually.

TransPod co-founder and CEO Sebastien Gendron said: “Alberta’s leadership mindset and partnership with TransPod firmly places it at the cutting edge of transportation innovation.

“Through this strategic agreement that secures the province’s economic future without having to commit any taxpayer dollars, the Government of Alberta is investing in improving growth and quality of life in the region.”

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TransPod’s 1,000kmph hyperloop transportation system to connect Edmonton and Calgary. (Credit: TRANSPOD)