ABINGTON, UK, 12 April 2018 (Reaction Engines PR) – Reaction Engines Limited (‘Reaction Engines’) today announced that it has raised a further £26.5 million in a strategic fundraising by securing backing from some of the most influential names in aerospace and finance which will support its development of SABRE™ – a revolutionary new class of aerospace engine combining jet and rocket technologies.
New strategic investors are Boeing HorizonX Ventures, the investment arm of Boeing, the world’s largest aerospace company and leading manufacturer of commercial jetliners and defence, space and security systems; and Rolls-Royce, a pre-eminent engineering company focused on world class power and propulsion systems whose experience and capability in building complex engine systems is well known.
Reaction Engines has received a large investment by Boeing HorizonX and two other companies, CNBC reports.
The U.S. industrial giant joined Rolls-Royce and defense company BAE Systems in a $37.6 million fundraising round for U.K.-based propulsion company Reaction Engines. This is both the second foreign investment and the second space investment for Boeing HorizonX Ventures, which contributed to the $15 million funding round for Australian satellite company Myriota last month.
Reaction Engines’ advanced propulsion “could change the future of air and space travel,” according to Boeing HorizonX vice president Steve Nordlund.
“We expect to leverage their revolutionary technology to support Boeing’s pursuit of hypersonic flight,” Nordlund said in a statement.
Reaction Engines, which has now raised more than $140 million over the last three years, is developing a hybrid jet and rocket engine. In theory, the company’s SABRE engine will be capable of operating as a jet at take-off and transitioning to a rocket at higher altitudes.
ARLINGTON, Va. (AIA PR) —The Aerospace Industries Association announces today that after her successful seven-year tenure as President and Chief Executive Officer, Marion C. Blakey will be leaving to take the position of President and CEO of Rolls Royce North America.
“AIA has been very fortunate to have Marion’s leadership over the last seven years,” said AIA Chairman and President and Chief Executive Officer of GE Aviation, David L. Joyce. “Under Marion’s guidance, AIA has elevated its role advocating in the best interests of the nation and the aerospace and defense industry.”
Beginning in November of 2007, Blakey’s tenure saw the achievement of numerous milestones for the industry. AIA’s advocacy played a key role in changing the classification of commercial satellites in 2014, enabling American manufacturers to better compete in the global market. AIA’s work in support of the Next Generation Air Transportation System has been widely recognized by industry and government.
DARPAâ€™s Hypersonic Vulcan Engine Meld Defense Industry Daily
It might not be a Vulcan mind-meld, but itâ€™s pretty close. The Department of Defenseâ€™s technology brain trust, the Defense Advanced Research Projects Agency (DARPA), has given 4 contractors the go-ahead to develop the advanced Vulcan combination engine system for hypersonic flight. The 8-month first phase features awards to: Alliant TechSystems, General Electric, Rolls Royce, and United Technologies.
The Defense Advanced Research Projects Agency (DARPA) has kicked off the Vulcan program with awards to four contractors. The four contractors participating in the eight-month first phase are: Alliant TechSystems, General Electric, Rolls Royce and United Technologies.