Transpod was one of many teams that took part in a Musk-sponsored design competition, but founder and CEO Sebastien Gendron said he realized his company was much more ambitious than the competition.

"We've developed some extra systems like onboard power and a propulsion system," he told BuzzFeed Canada. By comparison, most other teams focused on simply making the lightest pods possible, he said.

Transpod is skipping the next step in the Hyperloop competition and pressing ahead on its own. In September, the Canadian company will present its designs at InnoTrans, the world’s largest rail industry trade fair held in Berlin.