Hyperloop Technologies Inc. to offer $150,000 in Prizes for Engineering Students as Sponsor of SpaceX Hyperloop Pod Design Weekend at Texas A&M

Leading High-Speed Transportation Company and ANSYS Work Together to
Encourage Student Innovation

LOS ANGELES–(BUSINESS WIRE)–Hyperloop Technologies Inc. is proud to announce that as a sponsor of
the SpaceX Hyperloop Pod Design Weekend January 29-30 at Texas A&M, they
will offer $150,000 in prize money to teams who present the strongest
design concepts. Hyperloop Tech will work with the selected teams to
provide resources and offset the costs of building the pod in support of
student innovation in engineering.

“Hyperloop Tech is thrilled to be a part of the SpaceX Hyperloop Pod
Design Weekend – it’s a fantastic opportunity to interact with the
thousands of students working on the concept, as well as identify and
reward exceptional engineering talent,” said Brogan BamBrogan,
Co–Founder & CTO, Hyperloop Tech. “All of us on the team at Hyperloop
Tech have designed and built hardware to solve big engineering
challenges throughout our careers, and we’re excited to be here onsite
inspiring this generation of engineers.”

To further student engineering excellence, Hyperloop Tech created an
ANSYS Simulation Contest, in which Hyperloop Tech and ANSYS will work
together to identify and reward individuals from teams who demonstrate
the best use of ANSYS simulation in their Hyperloop design. Judging will
be broken up into three categories, based on the type of simulation –
structural, fluid and electromagnetic. The winner in each category will
be offered a summer internship (for a total of three internships), at
Hyperloop Tech’s Innovation Campus in Los Angeles, California. In
addition, the top ten teams recognized at the SpaceX Hyperloop Pod
Design Weekend using ANSYS simulation software will be awarded prizes
from ANSYS, including one-year software leases.

As the lead company developing the Hyperloop system, Hyperloop Tech has
collaborated with ANSYS since 2014 and leverages ANSYS simulation
solutions across all aspects of the design process. The ANSYS portfolio
of electromagnetics, structural and fluids software allows Hyperloop
Tech to optimize their designs at the pace needed to realize the
Hyperloop.

“With Hyperloop Tech being the clear leader in developing this
technology to reality, it made sense for us to form a deep partnership
utilizing the predictive power of ANSYS simulation technology,” said
Michael Nisenson, Regional Sales Manager. “The hardware, technology and
facilities the company has built in less than a year is nothing short of
astounding – we’re proud to have helped enable this rapid growth with
our simulation technology.”

“At Hyperloop Tech, we’re creating designs that people have never seen
before and using simulation software to prove they work before we build
them,” said Josh Giegel, VP of Design and Analysis at Hyperloop Tech.
“Talking with some of the brightest young engineers during the course of
this design weekend, we hope to empower them with financial resources,
and integral tools such as the ANSYS software suite, to help them as
they perfect their designs and we collectively pursue realizing the
Hyperloop concept.”

Hyperloop Tech and ANSYS will be hosting simulation office hours at the
SpaceX Hyperloop Pod Design Weekend for competing student teams to have
a chance to interact with ANSYS experts and Hyperloop Tech engineers to
discuss their designs. Currently, 124 student engineering teams
representing 27 U.S. states and 20 countries will be traveling to Texas
A&M University in College Station, Texas, to take part in the Design
Weekend.

Winners of the Hyperloop Tech & ANSYS competition will be announced at
the SpaceX Hyperloop Pod Design Weekend at Texas A&M, January 29-30.
Deadline for entries is Monday, January 25 at 9:00pm EST. More info on
the competition can be found at: www.hyperlooptech.com/ansys-simulation-competition.
For general info about the SpaceX Hyperloop Pod Design Weekend, visit: http://hyperloop.tamu.edu.

Hyperloop Tech most recently announced that it has entered into
agreements to locate the Propulsion Open Air Test (POAT) on an a 50 acre
site it has secured in the Apex Industrial Park in the City of North Las
Vegas, Nevada. Testing is expected to begin first quarter 2016.

Hyperloop Technologies Inc.:

Hyperloop Technologies, Inc., is the world’s next breakthrough in
transportation, engineering unique transportation solutions worldwide
for both cargo and passengers. The company was founded in 2014 by
Co-Chairman Shervin Pishevar and CTO Brogan Bambrogan and led by CEO Rob
Lloyd and is headquartered in Los Angeles, California, with a fast
growing team of over 80+ full time employees. Hyperloop Tech is led by a
world class Board of Directors with Co-Chairman David Sacks, Joe
Lonsdale, Jim Messina, Emily White and Peter Diamandis, and has raised
over $37 million of financing from investors such as Formation8, Sherpa
Capital, Khosla Ventures, Zhen Capital, Caspian Ventures, Fast Digital
and others. For more information, please visit http://hyperlooptech.com.

Contacts

Hyperloop Technologies Inc.
The Pramana Collective
Meredith
Kendall, 310-739-6867
meredith@pramanacollective.com