Hyperloop One, the Los Angeles firm racing to build the world’s first Hyperloop high-speed transport system, has partnered with Arup, AECOM and Bjarke Ingels Group (BIG) to realise its ambitions.

The announcement was made today (11 May) as the company, formerly known as Hyperloop Technologies, attempts to prove its futuristic goals have a solid basis in reality and can revolutionise the worlds of transport, business and leisure. In addition to the partnerships, it also announced it has raised US$80m (€70.2m, £55.5m) in Series B funding, as well as continued Series A investment.

The Hyperloop is a tube-based transport system in which pressurised capsules travel on an air cushion, driven by linear induction motors and air compressors, at speeds of up to 760mph (1,200 km/h). The concept was proposed by Canadian-American entrepreneur and engineer Elon Musk in 2013, firing the starting gun on a technological race to realise the concept.

BIG and Arup will work on the design of the new system, while global engineering firm AECOM will support a feasibility study for the project conducted by Arcturan Sustainable Cargo.

Rob Lloyd, CEO of Hyperloop One, said: “We will work alongside these world-class partners to redefine the future of transportation, providing a more immediate, safe, efficient and sustainable high-speed backbone for the movement of people and things.”

The world's first public demonstration of the propulsion system will be held by Hyperloop One in Nevada tomorrow (12 May).

A major goal for Hyperloop One is to “create a fifth mode of transport that will connect distant cities to form dynamic and efficient economic super-regions” – a vision which has major connotations for the leisure industry.

According to Musk, the Hyperloop could reduce travel times drastically, with a journey from LA to San Francisco possible in just 35 minutes. Intra-city travel and links to remote parts of the world would become much quicker. Hospitality operators and out-of-city theme park developers could feasibly utilise this to receive visitors and supplies more quickly.

Hyperloop One co-founder and executive chair Shervin Pishevar said: “The brightest minds are coming together at the right time to eliminate the distances and borders that separate economies and cultures.”

Ingels said: “Traditionally, the work of an architect is to design buildings for the same known programme – a residence or a workplace – and try to squeeze in a marginal improvement here or an elegant design solution there. With Hyperloop, we are not only designing a futuristic station nor a very fast train – we are dealing with an entirely novel technology with the potential to completely transform how our existing cities will grow and evolve – and how new cities will be conceived and constructed.”

Arup Group chair Gregory Hodkinson added: “Hyperloop has the potential to solve many of today’s most complex long-distance transport issues. If railways helped enable the first industrial revolution, Hyperloop has the potential to do the same for the information economy, overcoming distances and creating connections between people, places, ideas and opportunities.”

The other new members of Hyperloop One’s “global partner ecosystem” come from the worlds of transportation engineering, infrastructure strategy and financing, construction and operations. They include:

• German engineering firm AMBERG Group

• Cargo Sous Terrain – a Swiss company developing an underground logistics system • Deutsche Bahn Engineering & Consulting

• FS LINKS – a Scandinavian transport company aiming to better connect Finland and Sweden• Dutch professional service company KPMG

• SYSTRA – an urban rail and public transportation engineering, consulting and operations firm developing high-speed mobility solutions in metro and intercity environments