Future FinTech secures global exclusive license for "Vacuum Parcel" technology.

Future FinTech Group has signed a Project Cooperation Agreement with Innovatelab LLC, securing the global exclusive license for the "Vacuum Parcel" technology for ultra-high-speed rail transportation. The two parties will collaborate to commercialize this innovation, with FTFT holding a 55% equity position and Innovatelab LLC holding 45%. The planned rail system will utilize pipelines and is expected to be a game-changer in ultra-high-speed rail development.

Future FinTech Group Inc. (NASDAQ: FTFT) has announced a significant milestone in its quest to revolutionize ultra-high-speed rail transportation. The company has entered into a Project Cooperation Agreement with Innovatelab LLC, securing the global exclusive license for the revolutionary 'Vacuum Parcel' technology. This agreement marks a pivotal step towards commercializing an innovation that promises to be a game-changer in the rail transit industry [1].

The 'Vacuum Parcel' technology, developed by Dr. Marvin Liu, an internationally renowned authority in vacuum transportation physics, utilizes open pipelines wrapped in a moving low-vacuum layer to achieve ultra-high speeds. This approach simplifies the Hyperloop concept by addressing the technical challenges associated with maintaining a low-vacuum state throughout the pipeline [1].

Under the agreement, Future FinTech Group will hold a 55% equity position, while Innovatelab LLC will hold the remaining 45%. FTFT will be responsible for investment capital and external financing, while Innovatelab LLC will focus on technology and research and development (R&D). The planned rail system aims to utilize pipelines as operational tracks, potentially achieving operational speeds comparable to aircraft [1].

The successful implementation of this technology is expected to be significantly more cost-effective than existing high-speed rail systems. Additionally, it is anticipated to have a strong competitive edge in the rail transit industry through its high-speed operation and enhanced safety and effectiveness. Furthermore, the technology is poised to drive rapid development in related industries and service sectors [1].

Elon Musk's Hyperloop concept, which relies on low-vacuum tube propulsion, has faced numerous technical challenges, including safety operation risks and difficulties in maintaining a low-vacuum state. The 'Vacuum Parcel' technology addresses these bottlenecks by using an open pipeline wrapped in a moving low-vacuum layer, significantly reducing development cycles and costs while enhancing technical feasibility [1].

Future FinTech Group believes that this technology represents a leap forward in current high-speed rail technology. The company is committed to driving the commercialization of this revolutionary technology within the next two years. FTFT is inviting governments, enterprises, and entrepreneurs with technology, capital, and vision to collaborate on this groundbreaking innovation [1].

References:

[1] https://www.marketscreener.com/news/future-fintech-announces-agreement-to-develop-advanced-rail-transport-system-ce7c50d3de88ff25