Global trade enabler DP World has signed a Memorandum of Understanding (MoU) with US-based Hyperloop One to explore the role of innovation in the future of world trade.
The collaboration is for feasibility studies that analyse the value of using Hyperloop systems in the UAE, with an initial focus in Phase 1 on moving containers from ships docked at DP World’s flagship Jebel Ali Port via the Hyperloop tube to a new inland container depot in Dubai. The initial study will focus on efficient handling of containers, costs, benefits, demand and volume patterns of moving cargo using the new technology.
DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem said: “At DP World, we continually strive to think ahead and foresee change to create the most efficient, safe and profitable trade solutions. With this collaboration, we’re leading innovation in our industry once again and by testing the Hyperloop technology at Jebel Ali for cargo use, we’re taking a first step in exploring new ways of enabling trade and underlining Dubai’s commitment to innovation.
“The world is changing at a pace never seen before in our history and we intend to be part of a new revolution in transport, connecting markets and economies around the world. This is an example of leading innovation in our industry and pushing the boundaries in the delivery of goods. The potential to use these kind of technologies in emerging markets outside the UAE such as Africa and Asia with large land mass is significant.
“We are delighted to be part of the vision of His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to make the UAE and Dubai a centre for innovation, continuing to grow its reputation for investment in smart technologies, to make life easier for societies and people around the world.”
Rob Lloyd, CEO, Hyperloop One, said: “Hyperloop One is pleased to extend our global footprint into the Middle East with the signing of the MOU with the United Arab Emirates and DP World. This partnership allows us to embrace the innovation of the UAE and to utilise the creativity of DP World, while expanding the variety of use cases for Hyperloop. The UAE has taken a leadership role in pushing global transportation solutions to the forefront and we believe that it is the perfect market for Hyperloop.”