Supersonic vehicle project needs $33 million to avoid bankruptcy

  • Supersonic vehicle project needs $33 million to avoid bankruptcy

Supersonic vehicle project needs $33 million to avoid bankruptcy

Bloodhound, the 1000mph land speed record project founded in 2007 by previous record holder Richard Noble and current holder Andy Green, has entered administration, citing a shortage of funds since running the auto at 200mph on Newquay Airport a year ago.

The company has already constructed a vehicle, which they have used in low-speed tests of up to 200mph (320km/h).

Founded in 2007 by Richard Noble and Andy Green (who set the existing land speed record of 763.035 miles per hour with ThrustSSC back in 1997) the project aims to hit speeds of 1000 miles per hour at a specially built, 18km long, 1500m wide race track at Hakskeen Pan in the deserts of the Northern Cape of South Africa.

Andrew Sheriden and Geoff Rowley, partners at FRP Advisory LLP, were appointed as joint administrators for Bloodhound Programme.

Bloodhound's driver is Wing Commander Andy Green, the current land-speed record-holder, and is expected to make its first desert run in South Africa next year, when it is targeting a speed of approximately 500mph.

The project already has a number of prominent sponsors, such as Rolls-Royce, the aircraft engine-maker, which helps the team operate a Eurofighter Typhoon EJ200 jet engine lent to it by the Ministry of Defence.

Bloodhound project director Richard Noble
Bloodhound project director Richard Noble Credit Christopher Pledger

Bloodhound said its programme had been a catalyst for research and development, as well as helping interest schoolchildren worldwide in science and engineering, with an associated educational campaign reaching more than 2 million children.

"Bloodhound is a truly ground-breaking project which has already built a global audience and helped to inspire a new generation of Stem (science, technology, engineering and maths) talent in the United Kingdom and across the world", Mr Sheriden said.

According to the chief engineer of Project Bloodhound, Mark Chapman, the company is close to its goal.

Project Bloodhound was founded in 2007 and aims to hit speeds of 1600km/h (1000mph) at a specially cleared, 18km long, 1.5km wide section of the Hakskeen Salt Pan in the Northern Cape.

The team behind the Bloodhound SSC land speed record vehicle has run into yet another financial roadblock in its over-10-year project.

"This is an opportunity for the right investor to leave a lasting legacy".