Hypersonic engine manufacturer Reaction Engines goes bankrupt
Reaction Engines, the British hypersonic engine company that since 2011 has been touting its Skylon spaceplane and winning a variety of development contracts to build it. has now gone bankrupt, shutting down all operations.
However, this year, the company found itself in major financial difficulties due to unexpectedly slow growth and the inability to secure an additional £150 million (US$193 million) in funding, followed by BAE Systems and Rolls-Royce being unwilling to put up bail-out capital.
As a result, as of October 31, Reaction Engines is in the hands of administrators PricewaterhouseCoopers (PwC). The company’s website forwards to PwC where there is a notice saying that further information will be released to creditors as the available assets are assessed. According to Sky News, 173 of the company’s 208 staff were made redundant.
After more than a decade of work and no apparent progress, it appears no one was willing to front the company any additional cash.
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Reaction Engines, the British hypersonic engine company that since 2011 has been touting its Skylon spaceplane and winning a variety of development contracts to build it. has now gone bankrupt, shutting down all operations.
However, this year, the company found itself in major financial difficulties due to unexpectedly slow growth and the inability to secure an additional £150 million (US$193 million) in funding, followed by BAE Systems and Rolls-Royce being unwilling to put up bail-out capital.
As a result, as of October 31, Reaction Engines is in the hands of administrators PricewaterhouseCoopers (PwC). The company’s website forwards to PwC where there is a notice saying that further information will be released to creditors as the available assets are assessed. According to Sky News, 173 of the company’s 208 staff were made redundant.
After more than a decade of work and no apparent progress, it appears no one was willing to front the company any additional cash.
The support of my readers through the years has given me the freedom and ability to analyze objectively the ongoing renaissance in space, as well as the cultural changes -- for good or ill -- that are happening across America. Four years ago, just before the 2020 election I wrote that Joe Biden's mental health was suspect. Only in this year has the propaganda mainstream media decided to recognize that basic fact.
Fourteen years ago I wrote that SLS and Orion were a bad ideas, a waste of money, would be years behind schedule, and better replaced by commercial private enterprise. Even today NASA and Congress refuse to recognize this reality.
In 2020 when the world panicked over COVID I wrote that the panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Only in the past year have some of our so-called experts in the health field have begun to recognize these facts.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
Please consider supporting my work here at Behind the Black.
You can support me either by giving a one-time contribution or a regular subscription. There are five ways of doing so:
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5. Donate by check, payable to Robert Zimmerman and mailed to
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What was “unexpected” about the “slow growth”?
Skylon might have been practical a few decades ago, but the design’s 10-ton payload capacity is totally dwarfed by that of Starship, and it could never scale up to match. Cost-wise, I’d expect it would be hard pressed to compete with the current Falcon 9. Maybe it could work as a usable point-to-point airline vehicle, but would likely end up as a more extravagant and less affordable Concorde. Skylon and its HOTOL predecessor have been in the works since the early 1980s, and it now appears the window of opportunity has simply come and gone – who wants to throw away yet more money on an obsolete market solution?
With the re-usability of first stages it would be cheaper to launch a smaller re-usable shuttle like second stage to return with.
Something with just enough engine to give it a better than one shot at landing like the shuttle had.