And with that, the company's rebranding to a not-clunky-whatsoever-name: Virgin Hyperloop One. The multinational corporation that runs transportation and aerospace firms, such as Virgin Atlantic and Virgin Galactic, invested an undisclosed amount in Hyperloop One, which shall henceforth be known as Virgin Hyperloop One.
"Passengers and cargo will be loaded into a pod, and accelerate gradually via electric propulsion through a low-pressure tube", Branson said.
In 2013, Musk pitched an idea for entrepreneurs to create a massive vacuum tube that could one day transport someone from Los Angeles to NY in 45 minutes.
The Hyperloop technology is now in the early stages of commercialization after a successful first full-scale systems test was conducted.
Ophelia becomes a hurricane, tying century-old record
National Hurricane Center said Tuesday that Ophelia was located about 780 miles (1,260 kilometers) west-southwest of the Azores. After moving past Spain, forecasters expect Ophelia to come quite close to the Irish coast as a strong storm on Monday.
Sir Richard has led an $85m (£65m) investment in Hyperloop One, a California-based company that is the first to successfully test the high-speed magnetic levitation technology.
Multiple startups took up the challenge, including Hyperloop One, cofounded by Musk's friend Shervin Pishevar.
The idea of a Hyperloop has been around for half a decade now.
Real estate agent's courageous shark rescue caught on camera
Hatheier, an agent with Cronulla Real Estate , was swimming in the pool when she passed over it, Nine News reported . The video was posted on Facebook and has received more than 1,600 reactions and 1,300 shares as of Wednesday.
"Virgin Hyperloop One are leading the way in these efforts", he continued, noting that the company is "working on exciting projects in the Middle East, Europe, India, Canada, and the U.S.". The company was embroiled in a messy lawsuit previous year between its two founders. In August this year Hyperloop One successfully managed to fire a pod at 192mph.
Meanwhile, Musk is now working part-time on a similar project, called The Boring Company.
United States withdraws from UNESCO over 'anti-Israel bias'
The resolution also criticised Israel's activities at holy places in Jerusalem and the occupied West Bank. The United States will remain a member, however, until the withdrawal takes effect on December 31, 2018.