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NEW YORK (TheStreet) -- Sherpa Capital Managing Director Shervin Pishevar has every intent of making Elon Musk's Hyperloop concept a reality.

"Everyone is moving full steam ahead and we're going to make history in the beginning of 2017," Pishevar said in an appearance on CNBC's "Squawk Alley" on Friday. Pishevar is the Co-Founder of Hyperloop One, which has the stated goal of developing a fully operational system of Musk's proposed method of high-speed transportation through pods propelled by linear induction motors.

Pishevar expects the company's demonstration loop in North Las Vegas to go live in the first quarter of 2017.

"We broke ground last week," he added.

Hyperloop One's development has not been without controversy. Co-founder Brogan BamBrogan and three colleagues have sued Hyperloop One alleging breach of fiduciary duty and wrongful termination. Hyperloop One has countersued, alleging that BamBrogan and his colleagues sought to destroy the company's relationships with investors.