Erciyas and Çimtaş Become Suppliers and Investors in HyperloopTT

Erciyas and Çimtaş Become Suppliers and Investors in HyperloopTT
Erciyas and Çimtaş Become Suppliers and Investors in HyperloopTT

Erciyas Çelik Boru San. Inc. He became a supplier and investor to HyperloopTT.

The following information was given in the statement made to the Public Disclosure Platform (KAP):

Erciyas Çelik Boru San. Inc. (“Erciyas”) and the world brand construction company ENKA İnşaat ve San. A.Ş.'s subsidiary Çimtaş Çelik Üretim Erection and Installation A.Ş (“Çimtaş”) is now bringing together steel and transportation in a new dimension once again in Hyperloop Technology.

The Hyperloop concept, which was first put forward by Tesla and SpaceX owner Elon Musk, envisions transporting passengers and cargo at speeds up to the speed of sound (+1200 km/h) within pipelines where a frictionless and vacuum environment is created.

HyperloopTT pipes, which is an energy positive system, will be equipped with solar panels to produce the energy needed by the system, and the excess energy produced by these panels will be transferred to the interconnected system.

Erciyas and Çimtaş also signed an agreement with HyperloopTT to become a supplier and investor to Hyperloop Transportation Technologies (HyperloopTT), an innovation and technology company headquartered in the USA, which set out with the aim of making this innovative transportation idea a reality.

Exception Disclosure (Public)

The developed business model will start to operate through the production of specially equipped and high-tech steel pipes required by the fully functional prototype line with 5 km of passengers, primarily required by HypeloopTT. Erciyas Çelik Boru and Çimtaş, which will provide products and services worth more than 10 million USD within the framework of this cooperation, will also be among the investors of HyperloopTT.

With this project, which is planned to be realized, for the first time in the world, mass-produced steel pipes will be used in space technology. On this occasion, Turkish entrepreneurs will become a part of the team that develops and creates Hyperloop technology.

The new mode of transportation, called the "5th Mode" after land, sea, air and railway, has been following the Hyperloop since 2017, in contact with companies working to develop this technology, and separately for R&D processes, including international university collaborations. Erciyas Çelik Boru and Çimtaş, which provided separate support, have taken the decision of consensus and power since 2020 and today turned this into a cooperation model with HyperloopTT.

On the first 5 km track, where financing and supply resources are fully secured, the signaling will be undertaken by Japanese Hitachi, one of the largest technology companies in the world, and the steel raw material supply by Severstal, one of the world's largest Russian steel companies.

About HyperloopTT

Hyperloop Transportation Technologies (HyperloopTT) is an innovative transportation and technology company focused on realizing Hyperloop, a system that moves people and cargo safely, efficiently and sustainably by lowering aircraft speed to the ground. Using its unique and patented technologies and an advanced collaborative business model, HyperloopTT creates the “first new mode of transportation” in the last century.

HyperloopTT's European Research and Development Center in Toulouse, France, the aviation capital of Europe, is home to the world's first and only full-scale test system.

In 2019, HyperloopTT published the first comprehensive feasibility study analyzing a Hyperloop System, revealing that the system is economically and technically viable and will generate profits without requiring government subsidies. Founded in 2013, HyperloopTT is a global team of more than 50 engineers, creatives and scientists in 52 multidisciplinary teams, with 800 corporate and university partners. Headquartered in Los Angeles, USA and Toulouse, France, HyperloopTT has offices in North and South America and the Middle East and Europe.

In the "Sustainable and Smart Mobility Strategy" report published by the European Commission in December 2020; In line with the Green Deal, it has included Hyperloop among its innovative solutions that will enable it to become Carbon Neutral by 2050.

In the "Top 2022 Innovators" Report of 100 published by Reuters Events in January, the "Hyperloop Transportation Technologies" company was awarded as one of the 10 players that made a difference in public transportation systems in the category of "innovative technologies" and became the only Hyperloop company included in this category.

HyperoopTT has become a party to the UN Global Compact in order to reflect its commitment to the United Nations Sustainable Development Goals.

Günceleme: 16/02/2022 12:00

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