Follow us on Twitter Follow us on LinkedIn Follow us on Instagram
Daily construction news
Weekly equipment news

Construction News

Thu December 13 2018

Related Information

News » US » HyperloopTT moves forward with regulatory framework » published 18 Sep 2018

HyperloopTT moves forward with regulatory framework

Initial safety requirements, certification guidelines and an insurance framework have been produced for planned hyperloop high-speed transport services.

Hyperloop Transportation Technologies (HyperloopTT), its partners and government stakeholders have moved forward with the regulatory framework. TÜV SÜD has produced the first set of hyperloop core safety requirements and certification guidelines, while HyperloopTT and Munich Re have presented an insurance framework. In addition, a roadmap has been discussed for joint creation and adoption into a legal framework of regulations for the construction and safe operation of hyperloop systems. In attendance were representatives from Ukraine, China, France, and the United States, all of whom have existing agreements with HyperloopTT.

"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."

"TUV SUD has been working intensively with HyperloopTT over the past year," said Ferdinand Neuwieser, CEO of TÜV SÜD Industrie Service. “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.” The final version of the guideline is expected to be published in Q1 2019.

"Last year we told the world that HyperloopTT's system was insurable," said Claudia Hasse, head of special enterprise risks at Munich Re. "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."

"Hyperloop will change transportation as we know it," said Volodymyr Omelyan, minister of 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. "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."

Download our free construction news iPhone / iPad app. Sign up to our FREE email newsletters or subscribe to our RSS feed for regular updates on the latest Construction News, Equipment News, & Contract News. The Construction Index also provides the latest Construction Tenders, Construction Market Data & Construction Law Commentary all FREE.

This article was published on 18 Sep 2018 (last updated on 18 Sep 2018).

More News Channels