BAE Takes Stake in British Air-breathing Rocket Venture | SpaceNews.com
PARIS — Defense technology giant BAE Systems plc on Nov. 2 said it had agreed to purchase a 20 percent equity stake in single-stage-to-orbit engine designer Reaction Engines Limited (REL) and would provide the company with “industrial, technical and capital resources” for ground-based testing of a prototype.
The investment is a fresh gust of confidence in REL following the British government’s decision in 2013 to invest 60 million British pounds ($92.5 million) in REL’s SABRE, or Synergetic Air-Breathing Rocket Engine, and will help accelerate REL’s progress on the test article.
BAE Systems’ initial investment in REL is 20.6 million pounds, valuing Oxfordshire, Britain-based REL at 103 million pounds.
Sourced through Scoop.it from: spacenews.com