Reaction Engines Enters Administration, Halting Hypersonic Ambitions
The UK aerospace innovator's collapse threatens the future of its revolutionary SABRE engine and impacts hypersonic programs globally.
Overview
- Reaction Engines, known for its SABRE hybrid rocket engine, has gone into administration due to failed funding efforts.
- PricewaterhouseCoopers (PwC) has been appointed as administrator, leading to the redundancy of 173 out of 208 employees.
- The company sought a £20 million cash injection but faced reluctance from key investors like BAE Systems and Rolls-Royce.
- The collapse jeopardizes the UK's hypersonic missile program and affects Formula One teams using its cooling technology.
- Reaction Engines had raised over £150 million in funding but struggled with commercializing its technology and achieving revenue growth.