Virgin Hyperloop One has signed an agreement to build its first European development facility in Spain for technology development and testing for the hyperloop proliferation.
The agreement, which was made with the Spanish Administrator of Railway Infrastructures, will advance technology development and testing of hyperloop technology as well as lead to regional economic growth and job creation.
The $500 million facility will be in the Andalusian region of Spain at Bobadilla Village in the province of Malaga. The Andalusian region is known as an epicenter of transportation and aerospace innovation.
Virgin Hyperloop One said the new facility would hire 200 to 300 high-tech workers and the center would spur job creation in the region through a number of new partners.
The 19,000 square meter center will develop, test and certify components and subsystems to improve safety and reliability of hyperloop systems. Virgin Hyperloop One said the facility is expected to open in 2020.
“For hyperloop to be commercially viable it needs to be safe and reliable — safety is our number-one priority,” said Josh Giegel, co-founder and chief technology officer of Virgin Hyperloop One. “We’ve already been testing and improving our technology for the last four years, including building the only full-scale hyperloop system in the world. Ultimately, the center will help us deliver upon our first projects and scale to meet future demand around the world.”