An international business consortium led by Dutch clean energy conglomerate Koolen Industries has made a multi-million-euro investment in Hardt Hyperloop, the company that created Europe’s first full-scale operational hyperloop test-facility for the high-speed zero emissions transportation system.
This investment round was backed by the renowned German fund Freigeist Capital, multiple Dutch and Belgium investors, and one of the first engineers of Uber. Several existing investors, including EIT InnoEnergy, also participated. The company has raised more than ten million euros to date.
“Koolen Industries brings not only money to the table, but also a phenomenal strategic knowledge about how to build a leading company in a new industry. This partnership will pave the way for several big projects that will ensure a successful commercial implementation of our hyperloop solution,” says Tim Houter, CEO, Hardt Hyperloop. “It’s great to have such a broad and international group of investors who will help with local developments, as well as having the continued support of our first investors.”
Hardt Hyperloop fits equally well into Koolen Industries’ family of clean energy companies, says Kees Koolen, CEO, Koolen Industries. “Hardt Hyperloop, with its unique lane switching technology, will change the way we travel, just like Uber did for personal mobility in cities. High-speed zero emission hyperloops will enable everyone to participate in the clean energy transition, without having to quit travelling. The hyperloop developed by Hardt is much more than an idea, it is already in a position to offer an affordable and sustainable alternative to the polluting aviation industry,” says Koolen.
In April, Hardt Hyperloop signed a strategic deal with EIT InnoEnergy, Europe’s sustainable energy innovation engine. A sizeable investment, introductions to EIT InnoEnergy’s ecosystem of 430 industry partners as well as access to its commercial resources, helped Hardt Hyperloop to fast track the demonstration of Europe’s first hyperloop test facility.
With this latest investment, the company is getting ready for the next step: to realise the European Hyperloop Center, a three kilometer hyperloop test facility to prove hyperloop technologies at high speeds. Sascha Lamme, CTO, Hardt Hyperloop “In this facility we will prove hyperloop technologies at speeds of more than 700 km/h (435 mph)”.
“We will also be able to expand our team with more talented people, acquiring investors in future investment rounds, and partnering up with additional companies who will get to join our existing partners such as EIT InnoEnergy, the Dutch and German National Railways, Tata Steel, Royal IHC and Royal BAM Group. Together we are making this world-changing type of mobility a reality.” says Lamme.