See Innov8 Transport for more information.

TEXAS-BASED STARTUP WHOSE SKYWAY TECHNOLOGY ALLOWS EXISTING CARS TO CONNECT TO AN AUTOMATED HIGH-SPEED RAIL WELCOMES ELON MUSK'S INTEREST IN A HIGH-SPEED INTERCITY TRANSPORTATION PROJECT

AUSTIN, TX � Innov8 Transport, Inc., the Austin, Texas-based startup company developing an Electric Dual-Mode (EDM) high-speed transportation system, welcomes Elon Musk's "Hyperloop" concept to revolutionize intercity high-speed travel. Unlike the "Hyperloop", Innov8 Transport's Electric Dual-Mode (EDM) Skyway system allows existing unmodified vehicles to connect to a high-speed rail and transport passengers at speeds of 130 mph.

On July 15, Innov8 Transport and Tesla Motors representatives met in Austin and discussed details of Innov8 Transport's EDM technology design solution. Later that day, Tesla founder, Elon Musk announced the "Hyperloop" project. He did not disclose design details, but mentioned he has no intention to secure patents.

"We are watching all potential partners and competitors with whom we have shared company sensitive design details and hope that intellectual property is respected," said Knapp, the founder and chairman of Innov8 Transport, Inc.

Asked about the implications of Musk's "Hyperloop" system on Innov8 Transport�s progress, Knapp commented, "As we begin development of the first Electric Dual-Mode test track, we are honored and frankly a little relieved to have the national spotlight finally begin to be placed on these issues. Innov8 Transport has spent the last five years assembling a team of experts and partners to realistically address these issues. We welcome Mr. Musk's efforts to further the discussion on our nation's transportation problems and soutions and we hope Musk's business experience will lead him to support a practical EDM solution that allows people to stay in their own car. Any discussions or proposed projects that elevate the transportation issues that have gone unaddressed by policy makers and industry for the past half century will begin to move the needle and set us on a path to bold change required to reform our nation's antiquated transportation infrastructure. Musk's concept is an improvement over ignoring real safety, pollution and capacity problems," Knapp concluded.

Knapp announced in July that Innov8 has partnered with Jack Lettiere, former president of the American Association of State Highway Transportation Officials. Mr. Lettiere will oversee government relations for the development of the public-private infrastructure project.

About Jack Lettiere

Mr. Lettiere joins the Innov8transport team following a distinguished career in public service. Prior to serving as Commissioner of Transportation for the State of New Jersey, Lettiere served as chairman of Nation�s Port, a bi-state coalition of business and government representatives advocating for state-of-the-art infrastructure for the Port of New York and New Jersey. In his earlier career, Lettiere served as chairman of the board of NJ Transit and the Transportation Trust Fund Advisory. He is past president of the American Association of State Highway Transportation Officials (AAHSTO) and he also served on the New Jersey State toll road boards (NJ Turnpike Authority and Garden State Parkway Authority). In 2007, Lettiere received the Association of State Highway Engineers� Person of the Year award.

About Innov8transport, Inc.

Innov8 Transport, Inc. is a Texas-based transportation company with a mission of building the world's best ground transportation system. Innov8 Tranport�s proprietary electric dual-mode (EDM) technologies aim to accelerate automation and electrification of public and private transportation while preserving the privacy and convenience of the automobile. For more information, please visit: http://www.innov8transport.com