Reliance purchased additional equity in NASA incubated skyTran for $26mn

Reliance industries acquired an additional equity in skyTran Inc for $26.76mn, made through Reliance Strategic Business Ventures Limited and it now owns 54.46% equity in skyTran

skyTran is a NASA Space Act company, developing pod car transport systems, it has developed a patented high-speed elevated Personal Rapid Transit (PRT) system that accommodates two-person jet-like pods.

Claims that its patented solution, which uses magnetic levitation technology, can transport passengers in a fast, safe, green, and economical manner.

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