27/02/2015 06:34 GMT | Updated 27/02/2015 06:59 GMT

Hyperloop Test Track Could Be Ready By 2019

An image released by Tesla Motors, is a conceptual design rendering of the Hyperloop passenger transport capsule. Billionaire entrepreneur Elon Musk on Monday, Aug. 12, 2013 unveiled a concept for a transport system he says would make the nearly 400-mile trip in half the time it takes an airplane. The "Hyperloop" system would use a large tube with capsules inside that would float on air, traveling at over 700 miles per hour. (AP Photo/Tesla Motors)

When it was first unveiled in 2014, SpaceX founder Elon Musk’s idea for a ‘Hyperloop’ super train sounded like a fascinating flight of fancy — but not a realistic project in the short term.

That seemed even more likely after Musk said he would not fund or build a Hyperloop himself — though our fears were calmed when he later said he wanted to construct his own test loop in Texas.

Now another company has said it is planning to build a test track for the idea in Quay Valley, California.

Hyperloop Transportation Technologies has signed a deal to create the five-mile loop at a test facility according to CNBC

"This is a phased process. We've done feasibility studies and now we will be able test all aspects of the Hyperloop," said Dirk Ahlborn, CEO of the JumpStartFund who are behind the test. "It's time to take the Hyperloop from concept and design and build the first one."

The test would start construction next year and be ready by 2019. That depends on the company raising $100 million through an IPO — no sure thing, but potentially quite a lucrative one... if it works.