Naukas is science, skepticism and humor. What I bring you today isn’t much science, and it might make you smile if you already know what the hell is about, but it’s not humor itself either. Yes, it is skepticism, although not the most typical about pseudosciences, homeopathy, reiki and the whole zoo. This is skepticism about technology. In particular, on a technology that does not deserve, in my opinion, such a distinction, and of which I have spoken before on many occasions. This is indeed about hyperloop. A zombie hyperloop at MWC.
I admit that I was surprised when I saw this photo, taken at the last Mobile World Congress in Barcelona:
When were they made? Quintero Two, the second hyperloop capsule that Hyperloop Transportation Technologies (HTT) was supposed to build? Make a flashback. The first of the capsules was the Quintero One. So named in honor of an unfortunately deceased partner of HTT’s CEO at the time, Dirk Ahlborn, it was presented with great fanfare by the public and the media on October 2, 2018, at the facilities of its manufacturer, Airtificial, in Puerto de Santa María. (Cadiz).
At the event, HTT’s Chairman of the Board, Bibop Gresta (who is also no longer in the role), assured without blushing that in 2019 it would be “optimized and ready for travelers.” The contract for the manufacture of this technological marvel amounted to 2.1 million euros. Supposedly, the second prototype, now worth 2.8 million, would follow in the wake of the first by the end of the year.
It does not matter that already then it was known that the supposed capsule was nothing more than a fuselage. It was hollow, which his maker never hid. They posted videos!
Manufacture of the Quintero One in fast motion (video: Airtificial).
The promised second capsule was never heard from again. Until last MWC, that is. There, once again among the popular clamor of the media (“The supersonic hyperloop train amazes with an interior design designed by students from Barcelona”, in The newspaper; «The ultra-fast train capable of connecting Barcelona and Paris in one hour, at the Mobile World Congress», in The vanguard; etc.), and even with the presence of Felipe VI, this new marvel was presented which, with a little abuse of language, we will call hyperlupic.
It was strange that no one commented on the transport of this second capsule, neither in the local media in Cádiz, nor in Toulouse, HTT’s main headquarters, which at the beginning of 2019 was reviewed everywhere and, due to at its length of 32 meters, it must have cost a small fortune, in addition to the administrative procedures to orchestrate a special transport by road.
exit of the Quintero One from the Airtificial factory on the way to Toulouse (video: Diario de Cádiz).
And a bit like a master of circus ceremonies: even more curious. In the audited accounts of Airtificial for the year 2021, this sentence is included:
In financial year 2020 the company impaired a balance receivable with Hyperloop TT for an amount of 2.2 million euros, in financial year 2021 the company has reached an agreement with Hyperloop TT to convert said balance receivable into shares of Hyperloop TT, the conversion of shares became effective in September 2021, and the Group reversed the impairment of 2.2 million euros.
Consolidated accounts of Airtificial Intelligence Structures, SA, p. 54.
That is, HTT did not pay. In the 2020 financial year, its debit balance “impaired”; that is to say, it began to be recorded as a lower quality debt, or what is similar, difficult to collect. But by 2021, Airtificial agreed to convert this debt into a shareholding in HTT, taking advantage of its upcoming going public through the SPAC procedure, a less regulated way of going public than the traditional IPO (Initial Public Offering).
An aside: these “special purpose acquisition corporations” (SPACs are short for Special Purpose Acquisition Company) are companies that have no other corporate purpose than the purchase of another unlisted company. The SPAC goes public to collect tickets and, within a fixed term, it must make its purchase; otherwise, investors can get their money back. To animate the roost there is usually a celebrity “supporting” the operation.
Well, in November 2022 it was announced that a SPAC with the imposing name of Forest Road Acquisition Corp. II, run by former Disney executives and bearing the seal of quality (?) of Shaquille O’Neal, would buy HTT, with a date limit of this March 12.
I don’t have to tell you how the story continues. Well yes, I’ll say it for pure schadenfreude: the operation fell apart. The SPAC fad, also used by developers of flying taxis and other tech-snake-oil sellers to raise funds without many regulators asking many questions, had been showing its shame since last year.
At the same time, in an article in a local Toulouse media outlet in December 2022, the mayor of Cugnaux (the town that houses the aerodrome used as headquarters by HTT) stated that no one had gone through there in the last six months.
In short, HTT is, in all likelihood, a corporate zombie. Where does this new capsule come from then?
What follows is speculation on my part, not facts. But tell me if it doesn’t fit the turn of events. The Quintero Two it is nothing more than the original capsule with new vinyl and cut in half to add a central access, as seen in the images of the MWC. The Quintero One It left the Airtificial factory in January 2019 in a white, metallic gray and dark blue color scheme, but as of the end of the same year there are already photos with an identical livery seen at MWC 2023.
HTT unsheathed the “Vibranium™” hacksaw, the miracle material* from which the capsule is made and, incredibly, is not a Marvel trademark. In two pieces of sixteen meters, its transport in two trucks is more discreet and cheaper. Also its assembly and the presentation of the interior design, which seems to be the only really new element presented at the MWC.
Although the new thing is a projection on a screen mounted in a way that simulates a trompe l’oeil interior (go back to the second image of the article to make sure):
The next-generation lightweight and sensorized fuselage prototype manufactured by Airtificial is thus transformed into a pure stand trade show, ready to do more rounds of fundraising. Even when?
* The Vibranium™ is an invention of HTT. Airtificial was very clear about the fact that they had manufactured a carbon fiber fuselage with embedded sensors.
Yet another instance of Homo sapiens. As a child he wanted to be a scientist, an astronaut and win two Nobel prizes. As he grew up, these aspirations suffered progressive cuts: he finally stayed as a telecommunications engineer. With more years of experience at the intersection of rail and information technology than he cares to admit, he is currently working in the exciting field of rail innovation as innovation director at Telice, SA. Shy in rehab and with more hobbies than he can count, when he has time he writes about whatever catches his eye: science, space, engineering, politics…