Richard Branson

Port operator DP World now firmly in hyperloop business

The Dubai-based port operator DP World put its name Sunday on the hyperloop technology it has already spent millions of dollars to develop as work continues to make it operational across the grand plans of its designers.

The cargo system being designed alongside possible passenger service by Virgin Hyperloop One will be called the DP World Cargospeed, the port operator's CEO and chairman Sultan Ahmed bin Sulayem told journalists and others gathered for a glitzy announcement alongside billionaire Richard Branson.

But it remains unclear what, exactly, the branding means. At the least, it shows how much money DP World has poured into the company over different funding...