British land speed record project hoping to go over 1,000mph scrapped

A British-led bid to smash the world land speed record and race a jet-powered car at more than 1,000mph has finally been axed.

Engineers behind The Bloodhound Project hoped to race a supersonic vehicle powered by a Rolls-Royce Eurofighter engine in South Africa next year.

However the the company behind it went into administration in October.

And today it was confirmed that administrators had failed to secure an investor to plough in the £25m needed to get the project back on track.

A Bristol-based team launched the project in 2007, aimed to beat the existing land speed world record of 763mph (1,228km/h) set 20 years ago in supersonic car Thrust SSC.

An 18km-long, 1,500m-wide raceway was even being prepared on a dried-out lakebed called Hakskeen Pan, in Northern Cape.

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

Administrators appealed for investors in October – but have today (Fri) announced that funding the plans “has not been possible”.

Bloodhound has been funded through donations, sponsorship and partnerships.

The UK Ministry of Defence loaned prototype jet engines to the project.

Andrew Sheridan joint administrator and partner at specialist advisory firm FRP Advisory LLP, said: “Since the company entered into administration we have worked tirelessly with the directors to identify a suitable individual or organisation who could take the project forward.

“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.

“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.”

 

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