Nevomo gets EU funding to help build a hyperloop for Europe

2 Nov 2022

Image: Nevomo

EIT InnoEnergy-backed Nevomo is on a mission to upgrade Europe’s railway infrastructure and one day reach speeds of up to 1,200kph.

Polish deep-tech company Nevomo has received EU investment to accelerate the roll-out of its hyperloop-inspired high-speed railway technology in Europe.

Based in Warsaw, Nevomo is on a mission to upgrade Europe’s existing railway systems by deploying its MagRail technology. Using magnetic levitation and a linear motor, this can enable train transportation at speeds of up to 550kph.

Eventually, it hopes to roll out hyperloop tech to transport people and goods at up to 1,200kph, close to the speed of sound. This would allow for travel between Berlin and Frankfurt, nearly 550km apart, in 30 minutes.

Hyperloop is a concept for allowing high-speed travel by placing pods in a vacuum tube with significantly low air pressure to reduce friction. This type of technology was trialled by Virgin Hyperloop in Nevada in 2020, while European players such as Zeleros and Hardt Hyperloop are working on similar innovations.

Nevomo’s latest investment came from EIT InnoEnergy, the EU body that supports sustainable energy and transportation innovations in Europe. Its investment is part of a €5m bridge round with Hutter Private Equity, ValueTech Seed and Seedrs, which was concluded earlier this year.

“Nevomo’s technology is the missing link between the current, often hugely outdated rail infrastructure and entirely new high-speed systems like the hyperloop,” said Lucienne Krosse, who responsible for the hyperloop portfolio at EIT InnoEnergy.

“This can not only accelerate the adoption of this new mode of sustainable, long-haul transport but greatly decrease the costs associated with such a shift.”

The first small-scale demo version of Nevomo’s MagRail was presented in 2019, followed by mid-size tests conducted over the last two winters. Last year, it started construction on Europe’s longest track to test the hyperloop-inspired passive magnetic levitation in Poland.

With installation of all the necessary elements now complete and the first full-scale test vehicle equipped, Nevomo is preparing to conduct more tests this winter and early next year.

Nevomo now joins EIT InnoEnergy’s portfolio of hyperloop-inspired companies including Hardt Hyperloop from the Netherlands and Spain’s Zeleros.

“Becoming a portfolio company of one of the world’s leading investors in sustainable energy and transportation is further confirmation from the market that we are on the right track in developing our hyperloop-driven technology,” said CEO and co-founder Przemek Ben Pączek.

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Vish Gain is a journalist with Silicon Republic