The Bloodhound project to set a new world land-speed record is back on track.
The Bloodhound Programme, the UK company behind the Bloodhound project, announced last year that it had been facing financial difficulties and that it had been put under administration.
Following this announcement, the administrators were contacted by a number of parties interested in the company and its assets.
One of these was Yorkshire-based [UK] entrepreneur Ian Warhurst, who has acquired the Bloodhound Programme and its assets for an undisclosed amount, allowing the Bloodhound project to continue.
“We have been overwhelmed by the passion that clearly exists for Bloodhound and are thrilled that we have been able to secure a buyer who is able to give this inspiring project a future,” says FRP Advisory LLP partner and joint Bloodhound Programme administrator Andrew Sheridan.
“Ian has a strong background in managing highly successful businesses in the automotive engineering sector and he will bring considerable expertise to bear in taking the project forward. He will be outlining his plans for the project in detail early in the new year.
“In the meantime, we would particularly like to thank the Ministry of Defence and Rolls-Royce for their support and collaboration throughout this process, without which it would not have been possible for the project to be in a position to continue.”
Warhurst and his family have been enthusiastic Bloodhound supporters for many years.
“I am delighted to have been able to safeguard the business and assets preventing the project breakup,” notes Warhurst.
“I know how important it is to inspire young people about science, technology, engineering and maths, and I want to ensure Bloodhound can continue doing that into the future.”
The Bloodhound project seeks to break the current land-speed record, set at 1 227.98 km/h.
The project was founded in 2007 and aims to hit speeds of 1 600 km/h at a specially built, 18 km long, 1 500 m wide race track at Hakskeen Pan, in South Africa’s Northern Cape province.
In addition to seeking to break the land-speed world record, the project is the focal point for a science, engineering and maths education campaign.
To date the project has operated on a partnership and sponsorship model, with support from a variety of partners, including Rolls-Royce and Rolex, the UK Ministry of Defence and South Africa’s Northern Cape provincial government, with the latter supporting the creation of the track.
Individual donations from the public have also supported the development of the car and the global education programme.
The Bloodhound project has already built a viable racing car which has been tested to 321 km/h.