Project Bloodhound Has Run Out Of Money, Seeks New Investor For Land Speed Record Attempt

The British company behind Project Bloodhound has entered into administration and now seeks new investors to help them attempt a new land speed record.

The company has already built the Bloodhound SSC, which has been tested to 200mph. The race car is powered by an EJ200 jet engine sourced from a Eurofighter Typhoon, paired to a custom rocket system in a bid to exceed 1,000mph (1,609km/h).

“The team is now seeking around £25m ($33 million in current exchange rates) in investment to provide guaranteed funding and see the project to completion,” said Bloodhound Programme Ltd in a statement today.

The project was founded in 2007 and aims to break the 1,000mph barrier on a specially built 11-mile long (18km) race track in the deserts of Northern Cape in South Africa.

The company reckons that while £25 million is not an insignificant amount of money, it represents a fraction of the cost of participating in top-level motorsports like F1. A number of potential investors have already shown interest but the company encourages any other interested party to contact them.

“As we now move out of the R&D phase and into the operational phase of the project, we recognise that we need a different approach to funding,” said Mark Chapman, Chief Engineer, Project Bloodhound. “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 ten months.”

  • TheHake

    No.

  • kachuks

    That’s a lot of money to test (200mph) what just about every supercar on the planet is capable of.

    • Six_Tymes

      obviously you didn’t read, or do not understand

    • Hasselblad X1D-50c

      Are you lost little boy?

    • “The project was founded in 2007 and aims to break the 1,000mph barrier”

  • drc

    I don’t think many find that interesting anymore. Basically its an aircraft you are trying to keep from going airborne. I myself would not pay $ 5 to watch that.

    • I AGREE.
      THOUGH IT MIGHT BE FUN TO WATCH.

  • This kind of project is never about making money, think of it as CSR, also I don’t think this record would be easily beaten.

  • I can’t help to think that what if some Chinese company will provide the money in exchange of naming rights? It’s like you have a baby and you know if you give it to them they will raise it, or if you just let it die rather than giving it to someone else.

    The reason I’m saying this is because Bloodhound SSC run out of money to finish the R&D, and then Geely showed up with money that they can use to finish the R&D (and losing Jaguar as sponsor in the process).

  • Perry F. Bruns

    Faster than any money has been gone before.

  • Vassilis

    I really hope they find an investor. They deserve to see this project through.

  • Ken Lyns

    Must be the first time a racer ran out of money…

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