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| - TransPod, the startup that is building the world's leading hyperloop system (the TransPod system) to disrupt and redefine commercial transportation, today announced it has signed a memorandum of understanding (MOU) with the Government of Alberta in Canada to support the development of safe, high-speed transportation in Alberta, based on the 1000 km/h TransPod vehicle.The MOU facilitates the process of attracting private investment to the province, in order to build a multi-billion-dollar infrastructure project. The project is estimated to create up to 38,000 jobs over 10 years, diversify Alberta's economy, improve the efficient movement of people and goods, and reduce Alberta's carbon emissions by up to 300,000 tonnes per year. This press release features multimedia. View the full release here: The Government of Alberta in Canada supports the development of TransPod's 1000 km/h hyperloop transportation system to connect the cities of Edmonton and Calgary. (Photo: Business Wire) The MOU will see Alberta Transportation: -- Support TransPod undertaking further study on the feasibility of developing its technology in Alberta -- Share available transportation data as appropriate that may assist TransPod in assessing the feasibility of its technology -- Work with TransPod officials to identify suitable land that can safely accommodate a test track -- Participate in discussions with potential large institutional investors where suitable No financial commitments or endorsements have been made by Alberta Transportation regarding the TransPod project. The phases of the Alberta TransPod project are as follows: -- Short-term: feasibility study (2020-2022) -- Short-term: research and development phase (2020-2024) -- Medium-term: test track construction and high-speed tests (2022-2027) -- Long-term: construction of a full inter-city line between Edmonton and Calgary (to begin in 2025) "Alberta's government is supporting new and exciting opportunities for job creation and innovation," said Ric McIver, Alberta Minister of Transportation. "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. We look forward to seeing this work put Alberta on the forefront of the movement of goods and people." The TransPod systemis being developed to carry passengers and cargo between cities at over 1000 km/h. Fossil-fuel-free and fully electric, it is a new generation of ultra-high-speed ground transportation being developed for construction around the world. It is built on a proprietary and innovative design that leverages aerospace engineering and is bolstered by a global network of engineering partners. The TransPod vehicle's top speed is faster than a jet, and it travels at ground level in a protected guideway that is immune to weather. With the convenience of a subway that departs every few minutes, TransPod will avoid airline flight diversions, travel faster than a jet, and three times as fast as a high-speed train. The TransPod vehicle's innovative and cost-efficient design is a new leap forward for transportation that is clean, safe, cost-efficient, and comfortable. The company is developing this technology with high safety standards in collaboration with the European Union and United States transportation committees. "Alberta's leadership mindset and partnership with TransPod firmly places it at the cutting edge of transportation innovation," said Sebastien Gendron, co-founder and CEO, TransPod. "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." "The space race's technology led to massive spinoffs worldwide, and our vision for TransPod is to position Canada at a similar level of leadership," said Ryan Janzen, co-founder and CTO, TransPod. "Future transportation comes from breakthrough innovations - and that's exactly what we're doing." The TransPod system is being examined by governments and organisations for several projects around the world, and the company is currently in the design and development phase for a testing facility in France. The TransPod vehicle will also be featured in a demonstrator which will be showcased in Canada and France, to unveil new breakthroughs that are part of the 1000km/h TransPod system. For more information: TransPod project proposal to the Government of Alberta About TransPod Inc. TransPod's goal is to disrupt and redefine commercial transportation between major cities in developed and emerging markets. The startup was founded in 2015 to build the world's leading hyperloop system (the TransPod System) to connect people, cities, and businesses with high-speed transportation that is affordable and environmentally sustainable. TransPod Inc. is headquartered in Toronto, Canada. For more information, visit View source version on businesswire.com: Contact Dianna Lai Read Director, Communications TransPod Inc. dianna.lai@transpod.com © 2020 Business Wire, Inc. Disclaimer: This material is not an AFP editorial material, and AFP shall not bear responsibility for the accuracy of its content. 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