The Office of Sheikh Falah Bin Zayed Al Nahyan has signed a strategic partnership agreement with Hyperloop Transportation Technologies (HTT), as part of its support for the project to link the cities of Abu Dhabi and Al Ain via Hyperloop technology.

The partnership will allow the company to accelerate the pace of its project, which follows the study agreement signed between HTT and the Abu Dhabi Department of Municipal Affairs and Transportation (DMAT) in November last year.

The agreement continues the efforts to support strategic projects in the emirate, according to the Abu Dhabi Vision 2030.

Commenting on the partnership, Moustafa Samir, the advisor at the Office of Sheikh Falah, said: "In line with the Abu Dhabi 2030 vision, the emirate is keen to take a leading role in the launch and adoption of initiatives and projects that are sustainable and based on the latest technologies and innovations."

"The HTT project to link the cities of Abu Dhabi and Al Ain is an example of such an initiative. It promises to support and develop the emirate’s infrastructure, and contribute to driving economic and social activity in Abu Dhabi, and in Al Ain in particular," he stated.

The sponsorship from the office of Sheikh Falah is the latest in a string of significant contributions that have allowed HTT to surpass $100 million in total investments.

To date, the company has received a total of $31.8 million in cash, from different stakeholders around the world, as well as $26 million worth of man-hours and services.

HTT’s land rights valued at more than $22 million, and an additional $27 million of commitments and in-kind investments have also been confirmed by several companies that have joined the team.

HTT currently has over 800 members, including over 600 individual team members and 44 companies in over 35 countries.

Bibop Gresta, the chairman at HTT, said: "Sheikh Falah's involvement with HTT is both crucial and highly valued by every team member, as it will allow us to align ourselves with Abu Dhabi’s vision and accelerate the pace of our exciting project to connect Abu Dhabi with Al Ain via Hyperloop."

Dirk Ahlborn, the chief executive of HTT, said: "For all of our supporters and team members, gaining this recognition and support is a meaningful milestone in HTT’s journey, as it is a consolidation of our relationship with the Government of Abu Dhabi and His Highness Sheikh Falah Bin Zayed Al Nahyan."

"We are honoured to be a part of the emirate’s growth story, and to be working to achieve a technical breakthrough in the field of transportation in Abu Dhabi," he stated.

Following the agreement signed by HTT and DMAT in November, the coming months will see the organisations undertaking important work including route analysis, feasibility studies, cost estimates and a development schedule, said Ahlborn.

HTT is the only initiative of its kind that has the support of the government of Abu Dhabi, and with the sponsorship of Sheikh Falah, the company is celebrating another momentous step towards the realisation of its ambitious project, he added.-TradeArabia News Service