Space engine start-up in talks for new capital after funding crunch

British aerospace start-up Response Engines, backed by key shareholders like BAE Systems and Rolls-Royce, is in urgent talks with SDF for additional funding after existing backers Artemis and Schroders significantly devalued their stakes. The company, which has raised over £150mn and experienced rapid revenue growth, has lined up PwC as administrators if funding talks fail. Known for its Sabre engine technology, Response is part of a UK-led military project focused on developing hypersonic gliding capabilities and collaborating with Honeywell on thermal control technologies for reducing aircraft emissions.

Source link