Sir Richard Branson promises to build 'revolutionary' Hyperloop train service

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Richard Branson's Virgin Group just invested in Hyperloop One, the crazy superfast transport idea of Elon Musk

Branson appeared Thursday on CNBC's "Squawk Box" to announce his company, Virgin Group, is investing in Hyperloop One, which is developing the super-fast transport system originally dreamed up by Elon Musk.

"This is an incredibly innovative and exciting new way to move people and things at airline speeds on the ground", the entrepreneur said in a blog post, describing Hyperloop as "the world's most revolutionary train service". The terms of the deal weren't disclosed, but the investment was significant enough that Hyperloop One will now be called Virgin Hyperloop.

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As a result, projected journey times in the United Kingdom include Edinburgh to London in 50 minutes.

Richard Branson (center) stands in front of the Hyperloop at Hyperloop One's test site in Nevada.

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Importantly, Virgin Hyperloop One will be all-electric and the team is working on ensuing it is a responsible and sustainable form of transport too.

Resembling a latter-day Johann Sebastian Bach lost in Margaritaville, Branson has chose to add high-speed tubes to his portfolio of transit companies already in the Virgin Group, which includes two regular-speed train divisions, Virgin Atlantic (planes), and Virgin Galactic (commercial space flight, eventually).

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One of Hyperloop One's co-founders, head of engineering Josh Giegel, previously worked for Branson at his Virgin Galactic space venture.

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