Canadian hyperloop firm threatens to relocate
A Canadian hyperloop company is threatening to move its headquarters to Europe unless it secures political support at home for its technology that would transport goods and passengers through tubes at airplane speeds.
“Unfortunately, we didn’t get the required support so we’re starting the testing in France,” Sebastien Gendron, co-founder and CEO of TransPod Inc., said in an interview from Europe.
He said it would be unfortunate if it had to move the company overseas to continue the development of a Canadian-made technology.
“If we wait until the risk is zero, fine, but the company may not be anymore in Canada,” said Gendron who previously worked for Airbus SE and Bombardier.
“They’re telling us everyday that Canadians need to be bold, ambitious, take risk and develop innovation. So now it’s time for execution.”
TransPod’s proposed elevated network of pods would travel through low-pressure tubes at 1,000 kilometres per hour.
That would cut transit time between Montreal and Toronto to 45 minutes and relieve highway and airport congestion. The line would cost $15 billion, excluding land, and accommodate 12 million passengers annually.
A second $6-billion line could connect Calgary and Edmonton in about 30 minutes.
Transport Canada said the government is watching the international commercialization of hyperloop technology closely.
Its Transportation 2030 initiative is working to modernize Canada’s transportation sector through updated regulations, investments in infrastructure and the promotion of new transportation technologies, said a department spokeswoman.
“The speed at which the world is changing makes it necessary for the government to explore the impact that innovation and advanced technologies can have,” she wrote in an email.
Gendron said the system could be ready to carry passengers in the early 2030s after first being used for light freight such as e-commerce and perishable food.
He said the transportation corridors would be privately owned, while TransPod would supply the technology and pods.