Hyperloop One moves forward amidst legal battle
Hyperloop One, a controversial company with big dreams and potentially big legal problems, is expanding plans to develop Hyperloop runs around the world.
The company's latest partnership is with DP World (:DPW-AE), which operates the Jebel Ali port in Dubai, United Arab Emirates . Hyperloop One will conduct a feasibility study to build a Hyperloop run from the Jebel Ali port to an inland container depot.
"We firmly believe that this study will take the first steps toward the construction of the Hyperloop in Dubai, which could reshape one of the world's most modern cities," said Shervin Pishevar, co-founder and executive chairman of Hyperloop One.
Pishevar's comments come just a month after a sensational legal war erupted between him and Hyperloop One's former Chief Technical Officer, Brogan BamBrogan.
In mid-July, BamBrogan filed a lawsuit against Pishevar and Hyperloop One claiming he was wrongfully terminated. BamBrogan accused Pishevar and other Hyperloop executives of mismanagement and greed.
Among the salacious accusations in the suit, BamBrogan claims Pishevar increased the monthly pay from $15,000 to $40,000 for the company's PR representative who Pishevar was trying to date.
Shortly after that suit was filed, Hyperloop One filed a counter suit against BamBrogan accusing him of launching a smear campaign.
Hyperloop One is seeking $250 million from BamBrogan and three other former Hyperloop One employees who the company claims, "manufactur[ed] a rebellion and incit[ed] conflict in a transparent attempt to seize control of the Company."
"We're not going to let anything get in our way of hitting our milestones and making history and showing the world that Hyperloop works," Pishevar told CNBC on Monday.
Hyperloop One executives plan to build a full-size test Hyperloop in the first quarter of 2017. The company has previously targeted opening the first Hyperloop by 2020.
The firm is currently conducting feasibility studies at eight locations around the world including the ports of Los Angeles and Long Beach.
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