Reaction Engines, the UK company developing a hybrid engine blendingjet and rocket technology, has raised £26.5m by securing backing from Rolls-Royce and Boeing HorizonX Ventures. Abingdon headquartered Reaction Engines will use the funding to support the development of its Synergetic Air-Breathing Rocket Engine (SABRE), which is capable of Mach 5 in air-breathing mode and Mach 25 in rocket mode for space flight.Manufacturing accounts for nearly a quarter of the UK economy and more than 7.4 million jobs depend on it, according to research by the Manufacturing Technologies Association.The figures show the sector is responsible for 23 per cent of UK GDP, well over double the figure that is routinely quoted.
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