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FinancialNews
02-11-19
Virgin Hyperloop One inks deal with Saudi Arabia's KAUST
(MENAFN) The world"s leading hyperloop company, Virgin Hyperloop One (VHO), has announced the signing of a key agreement with the kingdom"s renowned King Abdullah University of Science and Technology (KAUST).
The signing took place at this year"s Future Investment Initiative, one of the most significant investment conferences globally, the California-based hyperloop company and the Kingdom"s leading private research institution have committed to working together on development the exchange of scientific and technological knowledge to further support the growth of the country"s technology and transportation sector.
Present at the signing on the VHO pavilion in Riyadh were the CEO Jay Walder and KAUST President Dr. Tony Chan.
Excited about the new partnership, VHO Chairman Sultan bin Sulayem said: "Saudi Arabia"s vision and willingness to embrace new technology is unrivalled. Having the opportunity to partner with one of the country"s most prestigious research universities such as KAUST is a significant collaboration for us."
"Together we hope to spur the development of the regional technology and transportation infrastructure for a connected Gulf," he noted.
MENAFN0211201900450000ID1099211029
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