Virgin Hyperloop And Spirit AeroSystems Announce Collaboration Agreement

The companies will work together on the hyperloop prototype as Virgin Hyperloop moves toward a commercial design and creates a new global supply chain

Los Angeles, CA and Wichita, KS (GLOBE NEWSWIRE) - Spirit AeroSystems [NYSE: SPR] has joined in partnership with Virgin Hyperloop as it prepares to move towards a commercial product. The collaboration will help to solidify the hyperloop prototype utilizing Spirit Aerosystems engineers, fabricators, builders, supply chain and certification experts, and technicians.

“As one of the most credible aerospace-grade structures companies in the world, Spirit Aerosystems provides a strong fit for our team as we look to build out strong partners in the hyperloop ecosystem,” said Josh Giegel, Chief Technology Officer of Virgin Hyperloop.

Hyperloop is a new mode of transportation designed to eliminate the barriers of distance and time for both people and freight. It can travel at speeds approaching 700mph, connecting cities like metro stops -- and it has zero direct emissions. With hyperloop, vehicles, called pods, accelerate gradually via electric propulsion through a low-pressure tube. The pod floats along the track using magnetic levitation and glides at airline speeds for long distances due to ultra-low aerodynamic drag.

The hyperloop supply chain is unique in the way it integrates existing technology with proprietary innovations to deliver a completely new transport experience. The pod is similar to an airplane fuselage in a low pressure environment, the columns similar to those of a pipeline, and the pressure management system similar to those used in industrial operations such as manufacturing semiconductors.

“As a new form of mass transportation, hyperloop opens up a new segment of diversification for us in the transportation space. Our collaboration with Virgin Hyperloop is a prime example of our belief that this burgeoning industry is a game changer,” said Keith Hamilton, Spirit Executive Director of Programs & Business Development. “Through leveraging our values and core competencies of designing and manufacturing aerostructures, many of the skills are transferable to produce the hyperloop bogie.”

This new transit mode will unlock exponential growth opportunities for cross-industry manufacturing and development jobs - across construction, aerospace, rail, automotive, aviation, electric vehicles, and autonomous control. As Virgin Hyperloop looks to create the first Hyperloop Certification Center in the United States, it will bring thousands of jobs for first movers of the technology and its partners.

About Virgin Hyperloop
Virgin Hyperloop is the first company in the world that has successfully tested its hyperloop technology at scale, launching the first new mode of mass transportation in over 100 years. The company successfully operated a full-scale hyperloop vehicle using electric propulsion and electromagnetic levitation under near-vacuum conditions, realizing a fundamentally new form of transportation that is faster, safer, cheaper, and more sustainable than existing modes. The company is now working with governments, partners, and investors around the world to make hyperloop a reality in years, not decades. They currently have projects underway in the US, India, and the Middle East. Learn more about Virgin Hyperloop’s technology, vision, and ongoing projects here.

About Spirit AeroSystems, Inc.
Spirit AeroSystems designs and builds aerostructures for both commercial and defense customers. With headquarters in Wichita, Kansas, Spirit operates sites in the U.S., U.K., France and Malaysia. The company’s core products include fuselages, pylons, nacelles and wing components for the world’s premier aircraft. Spirit AeroSystems focuses on affordable, innovative composite and aluminum manufacturing solutions to support customers around the globe. More information is available at www.SpiritAero.com.

On the web: www.spiritaero.com
On Twitter: @SpiritAero

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