It’s the end of the line for the Bloodhound SSC project
10 December 2018
After failing to gather the £25 million needed in funding to break the land speed record, the supersonic car project has been cancelled!
Project Bloodhound was founded in 2007 and aimed to hit speeds of 1,000mph at a specially built, 18km long, 1,500m wide race track at Hakskeen Pan in the deserts of the Northern Cape of South Africa. In addition to seeking to break the land speed world record, the project was a major R&D catalyst and the focal point for a STEM education campaign which has reached over 2 million children since its launch, including 120,000 UK school children per year.
Bloodhound Programme Ltd, the company behind Project Bloodhound, entered into administration on 15 October 2018 with the appointment of Andrew Sheridan and Geoff Rowley, partners at specialist business advisory firm FRP Advisory LLP, as joint administrators. The project had already successfully built a viable racing car which has been tested to 200mph, whilst developing or testing propulsion, aerodynamic and telecommunications technologies with the potential for far reaching applications outside of the project. The team was now looking for around £25m in investment to provide guaranteed funding and see the project to completion.
However, the BBC reports, the project since been axed after failing to receive the necessary funds to continue its work. Driver Andy Green has said the car is now available at a shockingly low price of £250,000.
There’s still hope that the car will run, if anyone has a spare quarter of million to restart the project…
According to the BBC, Andrew Sheridan, joint administrator, said “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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