Hyperloop is possible for Alberta, suggests feasibility study

CALGARY (660 NEWS) — A new study is shining a positive light on a futuristic transportation option in the province.

Transpod has received the results of a feasibility study, as the Toronto-based company looks to construct a hyperloop between Calgary and Edmonton within the next few years.

The study said the project could create thousands of jobs, add billions of dollars to the Alberta GDP, and reduce greenhouse gas emissions.

It would cost over $22 billion to construct the hyperloop between the major cities, with lots of the cost centering on land acquisition, and then there will also be billions more needed to build stations.

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Transpod CEO Sebastian Gendron said the results are encouraging and this will help them secure more investment.

“Of course, the technology is not yet proven. There are some challenges behind that, but it’s also a huge opportunity to develop a completely new ecosystem.”

A hyperloop is essentially a vacuum tube, capable of shuttling cargo and passengers at extremely high speeds of over 600 km/h. It is billed as something faster than car travel, but cheaper than air travel as tickets on the hyperloop would cost around $90.

The study said the project could create upwards of 140,000 jobs — but that number was reached by taking the 15,600 jobs expected to be created in one year and multiplying it by the nine years it will take to fully complete construction.

It is also hoped that it would inject $19.2 billion into the province’s GDP in the next 10 years.

Critics why there’s such a push behind this technology and not something more established such as traditional high-speed rail. Gendron said this would have some improved benefits over rail transportation, along with taking more cars off the road.

“We decided right from the beginning, it’s really to have a mix between passengers and freight to maximize the utilization of the infrastructure, in order to have a better business case.”

Gendron said a high-speed rail system would also likely require public funding, but this hyperloop project will be entirely privately-backed.

Transpod aims to secure investment for the first 20 km of track by the end of the year, conduct research and development after that, and then start testing construction and high-speed capabilities between 2022 and 2027.

“Just to address some of those criticisms that are saying this is science fiction and this isn’t going to work, so at least they will see something that is working in front of them,” Gendron added.

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Construction on the inter-city line would begin in earnest in around 2025.

The Alberta Government is backing the project as well, to help identify suitable land and assist in discussions with investors, though Gendron would like to have some stronger backing.

“They’ve been supportive, but however from my point of view they’ve been too neutral,” he said. “I think if the government really cares about Albertans, they should be more engaged to put boundaries and stronger conditions to a project like ours.”

Gendron said they aren’t looking for specific constraints, but if the government played a more active role then it could be easier to find more donors.

At this time, Transpod said it has initial investment proposals of around a billion dollars, and it will be harder to get money for the early development phases than the final construction.