Reaction Engines Spaceplane Company Closes Enters Bankrupcy | NextBigFuture.com
Adam Dissel, President of Reaction Engines, reported that business operations were being shutdown.
The US business of the UK company operated for 8.5 years. They pushed the boundaries of propulsion and thermal management with our technology. The team achieved some astounding milestones and technology firsts, including engine precooler tests at Mach 5 equivalent temperatures, the first demonstration of an integrated HX precooled jet engine at conditions faster than SR-71, and even several years contributing solutions to Formula 1 racecars.
On 31 October 2024, Sarah O’Toole, Peter Dickens and Edward Williams of PwC were appointed as Joint Administrators (“Administrators”) of Reaction Engines Limited (“the Company”).
The Company is a privately-owned aerospace engineering research company, founded in 1989. It has been focused on the development of the SABRE rocket engine for over 30 years, alongside contributing to other advancements in thermal management technology.
Reaction Engines Limited (REL) was a British aerospace manufacturer founded in 1989 and based in Oxfordshire, England. The company also operated in the USA, where it used the name Reaction Engines Inc. (REI).
REL folded into bankruptcy at the end of October 2024. Both REL and REI ceased operations and laid off the bulk of their staff.
In 2015, BAE Systems agreed to buy a 20% stake in the company for £20.6m as part of an agreement to help develop Reaction Engines’ Synergetic Air-Breathing Rocket Engine (SABRE) hypersonic engine designed to propel the Skylon orbiter.
In April 2018, Boeing announced its investment in Reaction Engines, through Boeing HorizonX Ventures with a $37.3 million Series B funding alongside Rolls-Royce PLC. Rolls-Royce and REL announced a strategic partnership in August 2020, with a £20m investment.
In January 2023 the company announced that it had raised a further £40m from backers including the United Arab Emirates Strategic Development Fund.
There are some other new startups that are working on detonation engines and other hypersonic drones.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.
Information contained on this page is provided by an independent third-party content provider. This website makes no warranties or representations in connection therewith. If you are affiliated with this page and would like it removed please contact editor @riverton.business
