Sitael joins TransPod Inc. in hyperloop system development
The Italian high-tech holding group Angelo Investments, that leads a group of pioneering companies developing advanced technologies for the railway (MERMEC), space (SITAEL), and aviation (BLACKSHAPE) industries, announced that it had acquired a stake in TransPod Inc., the Canadian company that is building the world’s leading hyperloop system.
Mola di Bari – November 23rd, 2016 – SITAEL’s holding company, Angelo Investments, announces it has invested in TransPod Inc., the company that is building the world’s leading hyperloop system to disrupt and redefine commercial transportation. The funding will be used towards TransPod’s global expansion and continued research and development.
Angelo Investments will also provide TransPod with complementary unique competencies and technical capabilities. As part of the partnership, Angelo Investments’ member companies SITAEL, MERMEC, and BLACKSHAPE – world leaders in their served markets – will become key industrial partners of TransPod. With combined international staff of more than 1,000 highly skilled employees, 650 of whom are engineers, they will collaborate with TransPod in the testing and developing new products and technologies for hyperloop.
“Innovation and invention are the cornerstones of our past and our future,” said Vito Pertosa, founder, Angelo Investments. “Our never-ending goal is to change the industry’s perception of what the possibilities are, turning ideas into reality. We look forward to working closely with TransPod as we explore new technologies to make hyperloop a reality.”
“There is an incredible need right now for fast, efficient, and reliable transportation” said Sebastien Gendron, founder and CEO, TransPod. “It will fundamentally change the way we live, by connecting people, cities, and businesses. It will also facilitate the exchange of ideas, commerce, and resources. The future of hyperloop will be its ability to virtually shrink distances and create an interconnected economy. We are thrilled to be working with Angelo Investments to make Hyperloop a reality.”
About Angelo Investments
Angelo Investments is focused on long-term investments in high-tech sectors, and works with talented entrepreneurs and management teams to develop breakthrough technologies. It provides member companies with access to specialized expertise and offers hands-on collaboration throughout the design and execution phases of strategy and product development. With an unwavering focus on innovation and invention, Angelo Investments is committed to helping build industry leaders. Founded in 2008 by the Italian entrepreneur, Vito Pertosa, the Angelo Investments Group includes companies such as MERMEC (www.mermecgroup.com) developing measuring trains and signaling technologies for the railway industry, SITAEL (www.sitael.com) developing satellites, propulsion systems and space electronics, BLACKSHAPE (www.blackshapeaircrafts.com) producing high-performance carbon-fiber aircrafts for leisure and training. More info at www.angeloinv.com
TransPod’s goal is to disrupt and redefine commercial transportation between major cities in developed and emerging markets. The company was founded in 2015 to build the world’s leading Hyperloop system to connect people, cities, and businesses with high-speed transportation that is affordable and environmentally sustainable. TransPod is headquartered in Toronto, Canada. More info on www.transpod.ca
Hyperloop is a new high-speed ground transport system, which has been unveiled in 2013 by Tesla and SpaceX’s CEO, Elon Musk. Hyperloop will redefine commercial transportation and commuter experiences. Driverless pods carrying passengers or cargo will travel through low-pressure tubes between major cities at speeds that are 50% faster than airplanes and 300% faster than trains, thereby minimizing travel time and improving efficiency