Hyperloop One, the Los Angeles-based startup working on an ultrafast tube transportation system, is no more.
It suggests that passengers and their luggage would travel through a pod that accelerates gradually using electric propulsion through a low-pressure tube that uses magnetic levitation to travel at lightning-fast speeds.
The Virgin tycoon revealed he has invested in a company called Hyperloop One, which is developing the technology at a site outside Las Vegas. The air-tight tubes need to be closer to true vacuum, the maglev acceleration needs to increase which will require more power, and protecting hyperloop tracks from environmental factors such as earthquakes is still a major concern.
The company has conducted two successful tests of its Hyperloop system on its 500-meter development track in Nevada.
'From our airlines to our trains to our spaceline, we have always been passionate about innovation in transport too, especially the development of technology that could transform people's lives.
'Projected journey times in the United Kingdom include Edinburgh to London in 50 minutes'.
Theoretically, the speeds could reach up to 700 miles per hour.
'This is just the latest example'.
The Virgin founder also noted his commitment to ensuring Hyperloop One remains all-electric, and "is a responsible and sustainable form of transport".
Branson said the company was working on "exciting projects" around the world but no lines have been confirmed as yet.