Reaction Engines, the UK company behind the reusable SABRE jet-cum-rocket engine that could dramatically alter air and space travel, has secured the final piece of funding that will allow for the creation of a SABRE demonstrator engine by 2020.
At the Farnborough Air Show on Tuesday, Reaction Engines signed a £10 million development contract with the European Space Agency. In turn, this commitment from the ESA unlocked a £50 million grant from the UK Space Agency (which is an executive agency of the government).
Back in November 2015, BAE Systems—the massive defence and aerospace multinational based in the UK—invested £20.6 million in Reaction Engines; in return, it picked up 20 percent of the company’s share capital, while also agreeing to provide industrial and technological support during the development phase.
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Source: Ars Technica – Reaction Engines unlocks funds for single-stage-to-orbit SABRE engine