Dutch company Hardt Hyperloop has signed a formal partnership with trading company POSCO International Corporation (P-INT’L) in the South Korean city of Songdo. As a business partner, the Korean company P-INT’L will supply steel products to the European Hyperloop Centre.
For the South-Korean company, the agreement marks the formal entry into the hyperloop business. In practical terms, the cooperation means that P-INT’L will supply POSCO steel products for the European Hyperloop Center, which will be a testing ground for hyperloop in the Dutch province of Groningen. As part of an integrated business partnership, the P-INT’L will also make an investment in Hardt Hyperloop. Finally, the two companies will team up for hyperloop business sales and marketing.
P-INT’L wants to use its reach to expand the hyperloop ecosystem, not only via steel products but also using the infrastructure technology of POSCO E&C, and track manufacturing of POSCO Mobility Solutions. “We are truly excited about this partnership with POSCO that brings hyperloop to the global stage”, Hardt Hyperloop CEO Bertrand van Ee said.
“POSCO’s investment, as well as the cooperation in sales and marketing, is a tremendous step for us in making the hyperloop dream come true”, Hardt Hyperloop co-founder and chief development officer Tim Houter added.
P-INT’L COO Joo SiBO: “In the past, our trading company found business opportunity in existing industries. However, from now on, we will meet the challenge to raise a new industry by leading investments. P-INT’L will think outside the box to develop and invest on future green business in creative way”.