Ultra-high-speed transportation project in Alberta will create up to 140,000 jobs and add $19 billion to the region’s GDP over the course of construction — all at no cost to the taxpayer
TransPod Line between Calgary and Edmonton will reach speeds of a jet aircraft, with tickets 45 per cent cheaper than a flight.
EDMONTON, ALBERTA – June 25, 2021 – TransPod, the startup that is building the world’s leading hyperloop system to disrupt and redefine commercial transportation, today released the results of a feasibility study for a proposed new TransPod Line between Edmonton and Calgary, Alberta. The results confirm that the multi-billion-dollar infrastructure project will create up to 140,000 jobs, grow the region’s GDP by 6.25 per cent over nine years, and reduce Alberta’s carbon emissions by 636,000 tonnes per year — all at no cost to the taxpayer. The technical and commercial feasibility of the TransPod line in Alberta was forecast by analyzing route options, passenger demand, cargo demand, construction and operating costs, economic impacts, and financing options, in collaboration with several local and global infrastructure, engineering, transportation, and financial organizations.
In August 2020, TransPod announced it had signed a memorandum of understanding (MOU) wit the Government of Alberta to support the ongoing research and development of safe, high-speed transportation in Alberta, based on the TransPod line. As part of this collaboration, Alberta Transportation is working with TransPod officials to identify suitable land that can safely accommodate a test track and is participating in discussions with prospective institutional investors to bring private investment into the region. The completion of the Alberta TransPod feasibility study moves the project into the next phase of investment and research and development. Initial investment proposals for a total amount of $1B USD have been shared with
The TransPod line will carry passengers and cargo faster than 600 km/h, and far faster than a high-speed train. Fossil-fuel-free and fully electric, it is a new generation of ultra-high-speed ground transportation that is safe, cost-efficient, and being developed for construction around the world. It is built on a proprietary and innovative design that leverages aerospace engineering and is bolstered by a global network of engineering partners. The company is developing this technology with high safety standards in collaboration with the European Union and United States transportation departments. The TransPod vehicle’s top speed is similar to a jet, but it travels at ground level in a protected guideway that is immune to weather. With the convenience of a subway that departs every few minutes, the TransPod line will avoid airline flight diversions, travel faster than a jet, and three times as fast as a high-speed train.
“The results of this study are a testament to the ingenuity and innovation of the TransPod technology,” said Sebastien Gendron, co-founder and CEO, TransPod Inc. “And we are proud to play a role in the Government of Alberta’s progressive and ambitious agenda to invest in the growth and quality of life in the region.”
Key findings from the Alberta TransPod feasibility study include the following:
- Substantial economic growth: The Alberta TransPod line will add $19.2 billion to the province’s GDP by the year 2030 — equal to 6.25 per cent of the region’s current GDP.
- Significant employment growth: The Alberta TransPod infrastructure project will create 15,600 jobs per year, totaling 140,000 jobs over nine years.
- Improved affordability for travellers: Riding TransPod will take 45 minutes from Calgary to Edmonton, at an estimated ticket cost of $90 CAD, compared to more than three hours spent driving or a plane ticket costing about $162.
- Faster travel time: With an expected ridership of 6.4 million travellers in 2030, growing to 19.2 million travellers by 2060, the total savings in travel time will amount to approximately 18 million hours of commuting per year, totaling $1.9 billion in economic benefits.
- Improved traffic flow on the roads: Once complete, the Alberta TransPod line will reduce the number of cars travelling between Calgary and Edmonton by 32 per cent; between Calgary and Calgary Airport by 21 per cent; and between Edmonton and Edmonton Airport by 18 per cent.
- Reduction in road accidents: Within the first year of operations, the Alberta TransPod line will contribute to a reduction in the number of road accidents, effectively saving approximately $50 million in expenses.
- Reduction in carbon footprint: Every traveller who takes a round trip on the Alberta TransPod line between Calgary and Edmonton will contribute to the reduction of CO2 emissions to the equivalent of planting one tree. Over the course of a year, the expected ridership between Calgary and Edmonton will reduce CO2 emissions by 636,000 tonnes per year, or the equivalent of planting a forest four times bigger than Calgary.
The next phases of the Alberta TransPod project are as follows:
- Short-term: Secure the initial investment for the first 20 km of the TransPod line (2021), plus the research and development phase (2020-2024)
- Medium-term: Test track construction and high-speed tests (2022-2027)
- Long-term: Construction of a full inter-city line between Edmonton and Calgary (to begin in 2025)
The TransPod system is being examined by governments and organizations for several projects around the world, and the company is currently in the design and development phase for a testing facility in France. The TransPod vehicle will also be featured in a demonstrator to be unveiled this summer. The demonstrator will be showcased in Canada and France, to display new breakthroughs that are part of the 1000+ km/h TransPod system.
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About TransPod Inc.
TransPod’s goal is to disrupt and redefine commercial transportation between major cities in developed and emerging markets. The startup was founded in 2015 to build the world’s leading hyperloop system (the TransPod line) to connect people, cities, and businesses with high-speed transportation that is affordable and environmentally sustainable. TransPod Inc. is headquartered in Toronto, Canada.
Visit www.transpod.com to learn more.
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