AE Systems plc and Reaction Engines Limited (‘Reaction Engines’) announced a strategic investment by BAE Systems and a working collaboration to accelerate Reaction Engines’ development of SABRETM – a new aerospace engine class that combines both jet and rocket technologies with the potential to revolutionise hypersonic flight and the economics of space access. The transaction is subject to the approval of Reaction Engines’ shareholders.
Under the terms of the agreement, BAE Systems will invest £20.6 million in Reaction Engines to acquire 20 per cent of its share capital and also enter into a working partner relationship. The working partnership will draw on BAE Systems’ extensive aerospace technology development and project management expertise and will provide Reaction Engines with access to critical industrial, technical and capital resources to progress towards the demonstration of a ground based engine – a key milestone in the development of the technology. Under the agreement BAE Systems will enter into a preferred supplier relationship with Reaction Engines in certain agreed areas and will have representation on the board of Reaction Engines.
SABRE (Synergetic Air-Breathing Rocket Engine) is a new engine class that can operate in both air-breathing and rocket modes.
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Reposted via Next Big Future
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