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A company that hopes to zip people and cargo through tubes at hundreds of miles per hour is showing off its propulsion system in North Las Vegas.

Hyperloop One plans to demonstrate the technology to reporters on Wednesday at its test site in the Apex Industrial Park. The California-based company announced Tuesday that it was tweaking its name from Hyperloop Technologies and had closed an $80 million round of financing.

The company credits Tesla co-founder Elon Musk for the hyperloop concept. Developers say it could whisk people from Los Angeles to San Francisco in 30 minutes and could be as revolutionary to transportation as the internet has been to society at large.

Hyperloop One hopes to conduct a full-scale, full-speed test of its technology by the end of this year.

This article was from The Associated Press and was legally licensed through the NewsCred publisher network.

Tags: hyperloop
Photo Credit: Hyperloop One is testing the first-ever hyperloop propulsion systems this week. Hyperloop One