US $ 2 Million for Magplane Technology Inc.

Magplane Technology Inc and its Inner Mongolia Joint Venture Team (JV) have completed testing the demonstration system and have concluded the technical planning for construction of the completely operational “pre- production status” system of 1 kilometre.  The Magplane is supposed to receive a sum of US$ 2 million as stated in the terms of agreement with the joint venture for continued design and management services through the coming phase of the MagPipe development.  This will facilitate the beginning of construction of an organized commercial system in 2010.

The Chairman and Chief Technology Officer of Magplane Dr. Bruce Montgomery said that the 1 km demonstration line includes various land topographies such as grade climbs and curves to study the requirements for commercial installations. The testing would be done using components manufactured for commercial systems. This will authenticate the operation, reliability, and maintenance requirements under real working conditions. Also the continuous operation and power loss scenarios are included in it.

The Inner Mongolia Joint Venture has built the first manufacturing building (100m x 40m) on its 32 acre construction site in the Baotou Hi-Tech Industrial Development Zone. This building features two 20 meter overhead cranes traveling the length of the building, which will be used to manufacture the 1 km system and then the first commercial systems. This building also includes the MagPipe Short Demonstration System which was built in July on a temporary location. This short demonstration system will now be used to test particular components and generate data for certification of the first commercial MagPipe systems.

The Magplane Technology Inc was founded by a group of MIT engineers. This company has developed a unique magnetic pipeline system that transports material from mining operations thereby reducing the fuel costs and pollution from the diesel trucks. The Magplane Maglev System was also developed by this company. This innovative magnetic levitation transport system offers significant benefits over the other high speed trains and light rail transit systems.