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U.K. Developers Seek Investors for Speed Record Attempt
Bloodhound Programme Ltd., the U.K.-based company that aims to break the land speed record, has gone into administration and says it needs to raise £25 million ($32.9 million) to continue operations.
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Bloodhound Programme Ltd., the U.K.-based company that aims to break the land speed record, has gone into administration and says it needs to raise £25 million ($32.9 million) to continue operations.
The company is in talks with several potential investors, according to the court-appointed administrators. Bloodhound previously has relied on partnerships and sponsorships, including support from Rolls-Royce Group, Rolex and the U.K.’s defense department, to fund the project.
Formed in 2007, Bloodhound aims to top 1,000 mph on a purpose-built track in South Africa. The current record of 763 mph was set in 1997 by the British-built, jet-propelled Thrust SSC.
Bloodhound’s 44-ft-long vehicle, which is powered by a rocket engine, already has been tested at 200 mph. Earlier this year the company announced plans to make a 500-mph run in 2019 and go for 1,000 mph in 2020.
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