BAE Systems Plc has forged a partnership with Reaction Engines to inject $31.85 million into the latter company's development work for a new class of aerospace engine.
BAE said Monday it will purchase 20 percent of Reaction Engines' share capital and Reaction Engines will have access to BAE's industrial, technical and capital resources in order to demonstrate a ground-based engine.
The synergetic air-breathing rocket engine will be designed to consolidate jet and rocket technologies.
“Our partnership with Reaction Engines is part of our sustained commitment to investing in and developing prospective emerging technologies,“ said Nigel Whitehead, group managing director of programs and support at BAE.
BAE will serve as a supplier to Reaction Engines and have representation on Reaction Engines' board of directors.