This will help them progress the development of their Synergetic Air-Breathing Rocket Engine – (SABRE™) – a new class of aerospace engine. Combining jet and rocket technologies, SABRE™ could be key to the future of hypersonic flight and space access.
“In addition to providing our largest round of private investment, these new partners bring invaluable expertise in both hypersonics and engine technologies with significant access to target markets,” explains Reaction Engines Chief Executive, Mark Thomas. “This is not only a vote of confidence in our technology but also underlines belief in our ability to develop a thriving commercial business, which will provide strong financial returns for our shareholders.”
The new strategic funding comes from Boeing, Rolls-Royce and BAE Systems, which already invested £20.6 million in the company in 2015. It has also attracted financial investment from Baillie Gifford Asset Management and Woodford Investment Management.
This is Boeing’s first investment in a UK-based company. Vice President of its investment arm, Boeing HorizonX, explains, “As Reaction Engines unlocks advanced propulsion that could change the future of air and space travel, we expect to leverage their revolutionary technology to support Boeing’s pursuit of hypersonic flight.”
And Paul Stein, Chief Technology Officer of Rolls-Royce, said, “We are delighted to become a strategic investor in Reaction Engines Limited, an innovative UK company that is helping push the boundaries of aviation technology. We look forward to working with REL and assisting with the development of their technology, and we plan to incorporate this technology into our own future products.”