Toronto-based TransPod announced Tuesday that it has secured US$550 million in financing for its multibillion-dollar hyperloop system.

The Alberta government has thrown its support behind an ultra-high-speed transportation project that could see people travel between Edmonton and Calgary in about 30 minutes.

A company that is designing ultra-high-speed transportation technology hopes the United Conservative government will support its proposal for a privately funded link it says would get people from Edmonton to Calgary in about 30 minutes.