Bloodhound Updates – Bloodhound needs another new owner to break the land speed record

Bloodhound Updates – Bloodhound needs another new owner to break the land speed record: The Bloodhound team told us how the ongoing coronavirus pandemic and the tempestuous UK economy, has really impacted the search for fundraising and as a consequence, the timeline for beating the world record attempt.

Warhurst who was financially stable took on the project to complete some test runs in South Africa. These took place in October and November 2019. At this point, the team hoped it would galvanize interest and bring in new financing.

Though the money never came. “At this stage, in absence of further, immediate, funding, the only options remaining are to close down the program or put the project up for sale to allow me to pass on the baton and allow the team to continue the project,” Warhurst explained.

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Bloodhound’s test runs were completed using a Eurojet EJ200 jet engine. It needs to beat the land speed record, by pairing with a monopropellant rocket which currently stands at 763MPH and reaches the team’s ultimate goal of 1,000MPH.

The Bloodhound crew estimates that it needs another £8 million to complete the rocket installation and take the vehicle back to South Africa.

The Bloodhound team is confident that the project will “recoup increasingly large amounts” through sponsorship and rights sales. “We’re now raring to get to 800MPH [and beyond]”.

Bloodhound argues buyers could recoup their investment as long as a record attempt happens. The Bloodhound team says there is “significant” fundraising potential “as the record attempt gets closer” and that selling sponsorships and rights could generate cash in the short term.

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Perhaps there’s a SPAC out there willing to test this claim before the inevitable SPAClash arrives? Or maybe the growing billionaire class would like to pitch in?

The gang behind the Bloodhound has a ways to go to beat the land speed record, but the project has been through so much that it’s hard to imagine things ending here.

Scraping together another $11 million could be tricky, but it’s easier — and certainly less physically risky — than finding those last few hundred miles per hour.