Participated · Equity · Jul 2023

Hardt Hyperloop is developing hyperloop transportation technology and is constructing the European Hyperloop Center (EHC) in Veendam, in the province of Groningen, the Netherlands. The EHC will house a 420‑metre‑long test facility with a lane switch; construction of the hyperloop pipes and foundations has begun and the first pipes are due to be installed by the end of the summer. Hardt intends the centre to be an open testing facility for other hyperloop developers and companies, promoting shared learning and collaboration. The company has secured more than €12 million to advance the EHC and its commercialisation roadmap. Funding comes from the European Innovation Council (EIC) Fund, InnovationQuarter, Investment Fund Groningen, existing and new backers including Peter Goedvolk via his fund First Dutch in partnership with Platform Zero, and private sector investors such as POSCO International and Urban Impact Ventures. Investors and regional backers framed the investment as a vote of confidence in Hardt’s potential to deliver a transformative solution for mobility and to reinforce Groningen’s position in sustainable transport and energy development. Hardt Hyperloop develops hyperloop technology that transports levitating vehicles through low-pressure tubes to achieve very high speeds (over 1,000 km/h) with minimal wear and low operational costs. The company built Europe’s first full-scale operational hyperloop test facility and highlights advantages versus high-speed rail such as reduced land use and lower infrastructure costs. Hardt has secured partnerships with industry players including Dutch and German national railways, Tata Steel, Royal IHC and Royal BAM Group. In April it signed a strategic deal with EIT InnoEnergy that included a sizeable investment and access to a large partner ecosystem. The company has raised more than €10 million to date and just closed a new multi-million euro investment round. Hardt plans to build the European Hyperloop Center, a three-kilometre test facility intended to prove technologies at speeds above 700 km/h. The team was founded in February 2017 after winning Elon Musk’s hyperloop competition. Hardt Hyperloop is developing an implementation of Hyperloop transportation that moves passenger and freight pods through purpose-built tunnels. The company spun off from Delft University's Hyperloop team that won SpaceX's pod competition in 2017. Hardt has initiated a consortium of European industry players including Royal BAM Group, Tata Steel, Royal IHC, DB Engineering & Consulting, Continental, and Engie Laborelec to support development and implementation. DB Engineering & Consulting, Continental, and Engie Laborelec joined the consortium recently, reflecting industry attention to disruptive transport technologies. Financially, Hardt has secured an investment of up to €5 million from InnoEnergy as part of a larger funding round that has yet to close. CEO Tim Houter said the investment marks a new phase for Hyperloop development and that InnoEnergy’s pledge should encourage additional investors.