The Bloodhound Land Speed Record project has announced they are looking for a new owner to back the goal of setting a new world land speed record in 2022.
Originally, the team started the project in 2008 with the official record attempt to take place in 2016 in South Africa – as reported by MyBroadband.
However, the project has been plagued with delays – and the date has since been extended multiple times.
During the programme, the Bloodhound test vehicle reached an 805km/h test target, and went on to reach a peak test speed of 1,011km/h.
To get the vehicle to reach the 800-miles-per-hour (1,287km/h) target, the team must first install a Nammo monopropellant rocket.
This will cost in excess of £8,000,000, based on the historical costs of the programme.
The current owner and chief executive of the Bloodhound LSR project, Ian Warhurst, has also stepped back.
Ian said that when he initially committed to the project, he allocated enough funding to achieve their goals, on the basis that alternative funding would then allow them to continue.
However, the Covid-19 pandemic has hampered this opportunity and, if the project does not find a new owner and commence work within the next few months, the test vehicle will have to be put into long-term storage.
Bloodhound LSR key facts
The Bloodhound vehicle consists of a mix between a jet, F1 car, and a spaceship.
Initially, the team set out to beat the current world land speed record of 763.035mph by taking the vehicle to speeds of higher than 800mph.
After this milestone was reached, they would then assess if the Bloodhound would be able to break 1,000mph.
The car is powered by a Rolls-Royce EJ200 jet engine – normally found in a Eurofighter Typhoon – and produces a peak thrust of 90 kilonewtons.
However, this engine alone cannot bring the car to its goal and a Nammo monopropellant rocket motor, which burns 1,000kg of concentrated hydrogen peroxide in 20 seconds, must be fitted and will add additional thrust.
The combination of these power plants will allow the Bloodhound to accelerate from speeds of under 400mph to over 800mph in 20 seconds.
At full speed, Bloodhound will cover a mile (1.6km) in 3.6 seconds.
A specially-prepared desert race track in Hakskeen Pan, Northern Cape is the home of the testing site and was hand-prepared by over 300 members of the local community.