Future FinTech signs agremeent to develop ultra-high-speed rail transport system

Future FinTech’s wholly-owned subsidiary, Future Commercial Group, has signed a Project Cooperation Agreement with Innovatelab, securing the global exclusive license for the revolutionary ‘Vacuum Parcel’ technology for ultra-high-speed rail transportation. The two parties will collaborate to commercialize this innovation which the company believes is a game-changer in ultra-high-speed rail development. FTFT holds a 55% equity position and Innovatelab LLC holds a 45% position in the new joint venture. FTFT will be responsible for investment capital and external financing, while Innovatelab LLC will focus on technology and R&D. The planned rail system is an ultra-high-speed ground transportation network that will utilize pipelines as operational tracks with the potential to achieve operational speeds comparable to aircraft as it provides a solution to the technical challenge of reducing drag in low-vacuum pipelines. The successful implementation of this technology is expected to be significantly more cost-effective than existing high-speed rail systems. Unlike Elon Musk’s Hyperloop system that relies on low-vacuum tube propulsion, the technology uses an open pipeline to establish a vacuum wrapped state, with its body wrapped by a moving low-vacuum layer, so that the train can achieve low air resistance and achieve speed close to that of an aircraft.