Reaction Engines Spaceplane Company Closes Enters Bankrupcy
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.
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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.
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