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i-GATE iHub and CyberTran Formalize Parntership
February 16, 2012
CyberTran joins Trikke, ElectraDrive, PowerPrism, Advent Technologies and Ultracell at i-GATE.
In its continued effort to support startups and entrepreneurs, i-GATE announced today that it has signed an agreement with CyberTran International to support technology development and implementation, growing its partnership in supporting technology companies. The i-GATE iHub Initiative partnership includes national labs, research institutions, academic partners, economic and workforce development organizations, and venture capital firms.
”This agreement represents an important milestone for i-GATE by providing additional opportunities for ground-breaking researchers to connect and grow innovative companies,” said Bruce Balfour, President and Chief Operating Officer of the i-GATE National Energy Systems Technology (NEST) Commercialization Center.
CyberTran’s technology is the result of research from the Idaho National Laboratory (INL) and promises to deliver futuristic transit systems with significant cost savings and sustainable financing.
“We are excited to be joining i-GATE. CyberTran’s technology development will be accelerated by joining i-GATE’s ecosystem of two national research labs, universities, and venture community,” stated Neil Sinclair, CyberTran’s Chairman. “We believe i-GATE can add a great deal of value to our technology development and implementation program.”
The technology provides a passenger rail system that allows passengers to plan their destinations around their personal schedules. The computer-controlled and light weight rail cars run on a fixed track and can be powered by solar panels. Stations are aligned as off-track sidings to allow the system to continue to move cars through the systems while unloading and loading.
The ultra-lightweight high-speed rail technology utilized by CyberTran provides convenience for the everyday commuter and focuses on green technology. The system’s small vehicle size creates significantly lower material and construction costs.
About the i-GATE Innovation Hub Initiative
i-GATE is a public-private regional partnership of ten cities, two national laboratories, universities, research institutions, and over thirty additional venture capital, angel investor, economic development, and industry partners. As a State of California designated iHub (innovation hub), i-GATE supports the growth of new technology companies and creation of jobs in clean energy, green transportation, and high performance computing.
CyberTran provides an economic and energy-efficient “passenger rail system” that allows the passenger to plan their destinations around their personal schedule. The company operates in a $100B market in the US with a larger global market potential. CyberTran technology revolutionizes travel and is less expensive to build, easier to use, and more convenient than any existing form of transit. The prototype system is being developed in Richmond, CA in partnership with the city and industrial partners. CyberTran is a vision of sustainable transportation – a system that is powered by renewable resources and serves as a blueprint for smart growth and development.