Reaction Engines Closes After Funding Shortfall
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Reaction EnginesAviation Week Network - Homepage | Aviation Week Network
•Reaction Engines forced into closure after failing to raise £25.7m in funding
67% Informative
UK -U.S.-based pioneer of hypersonic propulsion and thermal management systems forced into closure.
The bulk of the company’s 200-plus staff were laid off in the UK by PricewaterhouseCoopers , the company appointed as administrators.
The failure of Reaction Engines likely represents a significant blow to the UK 's hopes of developing an indigenous hypersonics vehicle.
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