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Hardt Hyperloop Secures EUR 12M Investment for European Hyperloop Centre

EIT InnoEnergy-supported start-up Hardt Hyperloop announced its latest investment from key public and private investors. 

This essential milestone underpins the completion of the European Hyperloop Centre (EHC) and Hardt’s hyperloop test vehicle, setting the stage for testing operations to commence in 2024. The EHC, a 420-metre-long test facility with a lane switch, will allow Hardt to prove all essential technologies for hyperloop.

We have always considered Hardt Hyperloop to be at the forefront of innovation in the Rotterdam/Delft area, ever since the first investment in 2017 by UNIIQ, our early-stage fund. Now with IQCapital, our largest fund, we are even more committed to fostering these transformative hyperloop technologies and driving their growth in our region.

Koos Fuykschot, manager at IQCapital, InnovationQuarter

Funding comes from a consortium of major EU and Dutch investors

The funding comes from the EU’s EUR 1.1B European Innovation Council (EIC) Fund, the Dutch regional investment funds InnovationQuarter and Investment Fund Groningen. Other notable backers include the successful entrepreneur Peter Goedvolk, through his fund First Dutch, in partnership with Platform Zero. 

The investment follows earlier private sector investments from key investors such as POSCO International (KR) and Urban Impact Ventures (EU) just last year. Both investments combine to a total of more than EUR 12M.

The EIC Fund is proud to support Hardt Hyperloop in its venture to revolutionise transportation. This investment signals the fund’s confidence in Hardt’s potential to deliver a transformative solution for the mobility landscape in Europe and beyond.

Hermann Hauser, member of the EIC Fund Board

A centre dedicated to shared innovation

Situated in the Dutch city of Veendam, in the province of Groningen, the EHC will serve as an open test facility, inviting other hyperloop developers and companies interested in hyperloop components to perform tests at the centre. By cultivating an environment of shared learning and collaboration, it will provide a boost to the whole hyperloop ecosystem. 

The construction of the hyperloop pipes and the foundations has already begun, and the first pipes will be installed by the end of the summer. The centre also features a fully operational hyperloop lane switch, which is critical for hyperloop networks.

Groningen has a leading position in supporting sustainable transport and energy development. Already in 2019, Groningen committed to hosting the European Hyperloop Centre. Investing in Hardt’s hyperloop development, therefore, comes naturally. We are excited to join Hardt on its journey and amplify Groningen as a key region for hyperloop developments.

Jan Martin Timmer, fund manager at Investment Fund Groningen

A foundation for continued progress

Parallel to the work on the EHC, Hardt Hyperloop has been busy in the past several months with international roadshows, making headway with governmental agencies and business partners on plans for infrastructure development and potential pilot routes. 

With these new investors alongside our existing backers, we have a great foundation to further the development and commercialisation of the hyperloop. The continued support is a great sign of credibility and trust in our development roadmap. It is also not just a win for Hardt Hyperloop — it is a great step for the hyperloop industry of which the EHC is an essential step in the roadmap towards a sustainable connected future.

Tim Houter, co-founder of Hardt Hyperloop