Hyperloop One hopes to transport cargo, people in five years

These are what the tubes for Hyperloop One. For the final testing, these are the tubes that will be used. They are 11 feet in diameter. 5/11/2016 [Nathan O'Neal/KSNV]

It looks more like science-fiction than reality but the future of hyperloop technology is being forged in the backyard of North Las Vegas.

Los Angeles-based company "Hyperloop One" performed its first public test today of its propulsion system.

"This is where Hyperloop is getting invented," said Hyperloop One Co-Founder Brogan BamBrogan.

Hyperloop One's plan is an ambitious one that shoots cargo and people through large air-tight tubes at up to 700 mph.

The idea is to create frictionless tubes using magnets to travel more than twice as fast as any of today's high-speed trains.

"In just a couple of months, we're beginning construction of the tubes, the support system," said Hyperloop One CEO Rob Lloyd.

Other companies are working on their own prototypes but after today's test, BamBrogan said that Hyperloop One is on track to be the leader.

"A lot of what we're doing is to bring the cost down, not just to make it work... so we could make it work in a couple years but it wouldn't be cost effective," BamBrogan said.

The company hopes to have a full-scale test by the end of the year and be capable of transporting people safely within the next five years.

"We know the world is watching and their eyes are on North Las Vegas and we're very proud to be here," said Lloyd.

It's a gateway to the future backed by $9 million in Nevada state tax breaks.

"I'm excited about it," said North Las Vegas Mayor John Lee. "I think with the five-year plan they've put together it's going to be possible."

If work keeps up, Hyperloop One insists this won't just be a pipe dream but will revolutionize the future of transportation.

The company behind the test also just received a new round of funding in the amount of $80 million.

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