Sat. Dec 15th, 2018

Bloodhound supersonic car project axed

The Bloodhound car was tested in Newquay, Cornwall, last year

A project to race a car at more than 1,000mph has been axed after it failed to secure a £25m cash injection.

The Bloodhound supersonic vehicle – built with a Rolls-Royce Eurofighter jet engine bolted to a rocket – is all but finished.

The Bristol-based team behind it was aiming to beat the existing land speed world record of 763mph (1,228km/h).

Test runs at Newquay Airport in 2017 saw Bloodhound reach speeds of 200mph (320km/h).

It was set to go for the record-breaking speed in South Africa, where a 18km-long, 1,500m-wide track at Haskeen Pan has been prepared for it.

The main structure of the vehicle has been built already with “shakedown” tests a year ago working to plan.

But failure to secure the investment forced the firm financing the project into administration.

“Since [then] we have worked tirelessly with the directors to identify a suitable individual or organisation who could take the project forward,” joint administrator Andrew Sheridan said.

“Despite overwhelming public support, and engagement with a wide range of potential and credible investors, it has not been possible to secure a purchaser for the business and assets.”

The project was a private undertaking that had been funded through donations, sponsorship and partnerships.

But the venture failed having not delivered sufficient cash to sustain such the complex venture.

Mr Sheridan added: “We will now work with key stakeholders to return the third-party equipment and then sell the remaining assets of the company to maximise the return for creditors.”

Bloodhound supersonic car project axed

A project to race a car at more than 1,000mph has been axed after it failed to secure a £25m cash injection. The Bloodhound supersonic vehicle – built with a Rolls-Royce Eurofighter jet engine bolted to a rocket – is all but finished.

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