BASINGSTOKE, 13 JUNE 2022 – hyperTunnel, the British underground construction innovator, has received a financial investment from VINCI, a global leader in concessions, energy and construction businesses. The funds will be used for business expansion and to further develop and test hyperTunnel’s revolutionary construction method in practical situations.
The deal further strengthens hyperTunnel’s connections with VINCI Construction technical departments. hyperTunnel recently joined VINCI’s innovation platform Leonard as a member of its start-up accelerator programme, Catalyst. hyperTunnel also won the prestigious annual Construction Start-up Competition in Miami last year, which Leonard co-organises with other sector heavyweights such as Ferrovial and Cemex Ventures.
“hyperTunnel’s technology can be truly game-changing when it comes to improving the safety and sustainability of underground construction projects,” said Guillaume Bazouin, Head of Start-up and Intrapreneurs programs at Leonard. “It strongly aligns with our goals of rapidly responding to the climate emergency by enabling technological advances that have a substantial environmental impact. hyperTunnel also boasts exceptional leadership and engineering teams, and we are looking to support their great success in the near future.”
hyperTunnel co-founder Jeremy Hammond added, “VINCI and Leonard are real experts when it comes to construction innovation, so to get their backing in such a concrete and substantial way means we must be doing something right. They can see the huge potential of the technologies we’re developing, and they share our passion for improving how the world works. We’re excited to see what we can achieve together over the coming months.”
Aquaa Partners acted as exclusive financial adviser to hyperTunnel on the transaction.
Last week, the European Innovation Council (EIC), Europe’s flagship innovation programme to identify, develop and scale up breakthrough technologies and game-changing innovations, selected hyperTunnel to receive funding of 1.88 million Euros under its EIC Accelerator scheme. The funding will be used to complete the development of hyperTunnel’s advanced swarm robotics underground construction platform.
Image – Steve Jordan, Co-Founder of hyperTunnel and François Pogu, Managing Director at VINCI Construction Grands Projects.
Image – François Pogu, Managing Director at VINCI Construction Grands Projets and Steve Jordan, Co-Founder of hyperTunnel.
Image – The hyperTunnel method: rather than digging through the ground with a tunnel boring machine or using a traditional drill-and-blast technique, the hyperTunnel method uses a simple horizontal directional drilling (HDD) rig to install a network of HDPE pipes to provide access to the whole tunnel length so that a swarm of multi-function robots can 3D print the tunnel.
Image – The hyperTunnel method: Swarms of hyperBots are sent into each construction bore to build the tunnel’s structural shell, deploying an additive manufacturing process, which uses the same principle as 3D printing.
Image – The hyperTunnel method: Swarms of hyperBots are sent into each construction bore to build the tunnel’s structural shell, deploying an additive manufacturing process, which uses the same principle as 3D printing.
Media contact (hyperTunnel)
For further information on hyperTunnel, including details of the company’s game-changing tunnelling method and images, please contact Claire Dumbreck, Propel Technology, claire@propel-technology.com / +44 7768 773857.
About hyperTunnel
hyperTunnel is a deep tech scale-up that is developing a revolutionary methodology for tunnels and underground schemes, designed to be substantially faster, safer, more economical and more environmentally friendly than current techniques. hyperTunnel’s goal is to dramatically reduce the cost of tunnels, allowing global demand for increased, yet more sustainable transportation solutions, to be met.
hyperTunnel uses a unique combination of proven technologies from diverse industries – including digital twins, robotics, 3D printing and digital underground surveying, supported by AI and VR – to redefine what is possible in tunnel construction, enlargement, monitoring and repair.
Founded in 2018 by businessmen Steve Jordan and Jeremy Hammond, hyperTunnel employs 40 people located at its Basingstoke (UK) headquarters, and outdoor learning environment (the hOLE) and Geolab in the North Hampshire Downs. hyperTunnel’s patented methodologies and its range of products and technologies, many of which have patents pending, are available via licence, leasing, consultancy and project support.
In 2021, hyperTunnel announced a contract with Network Rail. hyperTunnel has received a string of awards from business, innovation and technology experts. It has received funding of 1.88 m Euros from the European Innovation Council (EIC)’s EIC Accelerator scheme. hyperTunnel was recently picked by the UK government’s Innovate UK agency to join its Global Business Innovation Programme. It has also won Startup of the Year at this year’s Construction Technology Awards in Dubai. In 2021, hyperTunnel was highlighted as a Top 50 Contech Startup and was among 10 winners of the global Construction Startup Competition.
www.hyperTunnel.co.uk
https://www.linkedin.com/company/hypertunnel-limited/
About VINCI
VINCI is a global player in concessions, energy and construction businesses, employing more than 260,000 people in some 100 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, we are committed to operating in an environmentally, socially responsible and ethical manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. Based on that approach, VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general. www.vinci.com
About Leonard
Leonard is the innovation and foresight platform created by VINCI, a global player in concessions and project management. Leonard is responsible for monitoring emerging trends in VINCI’s businesses and markets, identifying long-term challenges and objectives, pinpointing opportunities for transformation in the Group’s activities and organisational structure, identifying new growth drivers and developing programmes for incubating and accelerating innovative projects open to Group employees and start-ups.
About Aquaa Partners
Aquaa Partners is an FCA authorised and regulated London-based corporate finance advisory firm focused on the Technology, Media and Telecoms (TMT) industries. Aquaa Partners was founded in 2010 by Paul Cuatrecasas, who had previously founded Alegro Capital in 2003 and co-founded ARC Associates in 1993. The firm offers its clients independent advice on mergers, acquisitions, capital raisings, company sales, divestitures, restructurings, leveraged buy-outs and a wide variety of strategic issues.