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.”
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.