The Bloodhound 1000mph Speed Record Project Is In Administration

Marco Green
October 15, 2018

The leading company behind the Bloodhound SSC land speed record machine has officially entered administration and is seeking a lifeline investment to bring the multi-million dollar project to reality.

The dream of an ultra-fast auto to break the land speed record led to the creation of Bloodhound Programme Ltd in 2007, with the idea of also engaging schools and students in engineering.

While Bloodhound has already built and tested a viable racing auto to speeds of 200mph, the project is in debt and needs to find £25m or face being wound up.

He added that discussions had been held with potential backers and pointed to the scale of the investment required when compared to other motor racing.

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.

Andrew Sheridan, joint administrator, said of the situation: "Bloodhound is a truly ground-breaking project which has already built a global audience and helped to inspire a new generation of STEM talent in the United Kingdom and across the world".

Team insiders say the project would need around £5 million to run the vehicle at 500-600mph under jet power on its already-prepared 18km track in South Africa, around £15m to achieve 800mph and break the existing record, and around £25m to reach its ultimate goal of lifting the record to 1000mph.

"This is an opportunity for the right investor to leave a lasting legacy. This project is built around the most successful team in the history of Land Speed Racing, and with the right support we have no doubt that the project will achieve its aims and could be racing for the record in as little as 10 months".

The company was established more than a decade ago, but now believes that with funding in place it could be trying to break the existing 763mph record, set 20 years ago in supersonic vehicle Thrust SSC, in as little as ten months.

Other reports by Click Lancashire

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