The UK Government has previously committed £60 million
funding via the UK Space Agency and the European Space
Agency to support the development of the project. The
new strategic investors are Boeing HorizonX Ventures,
the investment arm of the world’s largest aerospace
company Boeing; and Rolls-Royce, which has been at the
forefront of British engineering for over a century.
They join BAE Systems, which invested £20.6 million in
Reaction Engines in 2015 and is providing further
investment in this round, as well as financial
investors Baillie Gifford Asset Management and Woodford
Investment Management.
Together these investments take the total raised by
Reaction Engines in the last three years to over £100
million.
, Minister of State for
Universities, Science, Research and Innovation, said:
“These investments are a real vote of confidence in
Reaction Engines and its revolutionary SABRE engine,
which has benefited from £60m in UK Government support.
Boeing and Rolls-Royce will bring world-class expertise
to the project ahead of its testing at Westcott,
alongside the new National Space Propulsion Facility.
“This is an exciting time as the UK’s commercial space
industry goes from strength to strength, boosting the
economy and creating high-skilled jobs across the
country. Through our ambitious Industrial Strategy, we
are working with the sector to pursue new
opportunities, develop technologies and infrastructure,
and enable small satellite launch and sub-orbital
flight from UK spaceports for the first time.”
Reaction Engines is currently constructing a new
facility in Westcott, Buckinghamshire, UK for SABRE
testing. The UK Space Agency is also investing more
than £4 million in a National Propulsion Test Facility
on the same site, which has a strong history of
rocketry research for defence and space development.
Mark Thomas, Chief Executive of Reaction Engines said:
“This is a significant milestone for Reaction Engines
and I am delighted to welcome our new strategic and
financial shareholders. 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. 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.”
