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Trump is ‘a builder’ and hopefully will accelerate projects like our Hyperloop One, co-founder Pishevar says

  • Hyperloop One co-founder Shervin Pishevar says that President Donald Trump is "a builder" and hopefully, his leadership will help accelerate infrastructure projects.
  • Pishevar also announces that Hyperloop One has raised $85 million in new funding.
  • The start-up is now transitioning into the commercial phase, Pishevar says, and negotiating with governments around the world.

Hyperloop One co-founder Shervin Pishevar says that President Donald Trump is "a builder" and hopefully, his leadership will help accelerate infrastructure projects like the Los-Angeles-based start-up's transportation project.

Pishevar made an appearance Thursday on CNBC's "Squawk Box" and announced that Hyperloop One has raised $85 million in new funding to scale up, bringing the total funding to $245 million.

The company is now transitioning into the commercial phase, Pishevar said, and negotiating with governments around the world to allow an operational Hyperloop, preferably in the Middle East first.

Hyperloop One co-founder Shervin Pishevar.
Adam Jeffery | CNBC
Hyperloop One co-founder Shervin Pishevar.

The Hyperloop transit system, which was an idea popularized by billionaire investor Elon Musk, works by propelling pods through a tube. It is seen as a possibly faster, safer and cheaper form of long-distance travel, and also helping to alleviate congestion in many cities.

"Hyperloop One will move people and things faster than at any other time in the world," Pishevar has said.

In the interview Thursday, Pishevar was asked about his thoughts on the U.S. regulatory environment under Trump.

"He is a builder. His whole life he has been a builder, so I'm optimistic that under his leadership things can become accelerated and new infrastructure projects like this can create millions of jobs and change our economy," Pishevar said.

The Hyperloop One co-founder said he would love the transportation system to be in the U.S. but the "political regulatory realities and framework can be very slow." Pishevar said he has no approvals in the U.S. for any projects.

"There has to be essentially a completely new regulatory framework for Hyperloop because it is not high-speed rail. It's not rail," he said.

— Reuters contributed to this report.

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