A hyper-jet that will be able to travel from London to New York in an hour has been given £100million backing.
The new technology from British-based Reaction Engines will propel planes into space.
Chief executive Mark Thomas said: “The business we’re in is all about pace. With the speed at which the market is moving, the disruptive technologies and companies out there, we absolutely have to get there as quickly as we can.”
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American investment firm Elliott Advisors and hedge fund manager Crispin Odey have ploughed £100m into the Oxfordshire-based firm.
The Earl of Portsmouth and the Earl of Halifax have poured additional cash into the scheme, as well as aerospace firm BAE Systems.
And the Government is also backing the scientists with ministers boosting the fledgling business to the tune of £60m.
It is hoped supersonic passenger flights will be launched in 20 years.
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