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New backer sought for Bloodhound project
The Bristol-built supersonic car on track to become the fastest in the world is up for sale.
Ian Warhurst, the entrepreneur who saved the ambitious Bloodhound project from collapse in 2018, is seeking a new backer to take it through to the next stage of its bid to break the land speed record.
It is estimated an investment of £8m is needed to install the Nammo monopropellant rocket needed to enable the vehicle to exceed 800 mph, based on the costs of the test programme to date.
is needed now More than ever
Work on the project first started in in an Avonmouth warehouse more than five years ago and it has gained high profile attention, most recently as the subject of Channel 4 documentary Building the World’s Fastest Car.
Those leading the work say they expect it to have “significant fundraising potential” as they get nearer to the world record attempt and they anticipate being able to recoup funds through sponsorship and rights sales as the programme develops.
Tests conducted in 2019 in South Africa saw the supersonic car hit a peak speed of 628 mph (1011 km/h), which engineers say validates the computer modelling used in designing the car and proves Bloodhound has “record-breaking capability”.
However, the impact of the pandemic has severely hit fundraising efforts and the timeline so if an investor is not found it could spell the end for the Bloodhound project.
Warhurst is inviting a new owner to take over Grafton LSR Ltd, the holding company which owns the Bloodhound LSR project.
He said: “It has been a privilege to lead this team of world-class engineers over the past two years. I was spellbound – along with a huge audience around the world – as we tested the car up to 600 plus mph in South Africa.
“When I committed to taking the car high speed testing in 2019, I allocated enough funding to achieve this goal on the basis that alternative funding would then allow us to continue to the record attempts. Along with many other things, the global pandemic wrecked this opportunity in 2020, which has left the project unfunded and delayed by a further 12 months.
“At this stage, in absence of further, immediate, funding, the only options remaining are to close down the programme or put the project up for sale to allow me to pass on the baton and allow the team to continue the project. This gives someone with the right passion and available funding to effectively swoop in at the last minute and take the prize. I will, of course, be cheering from the side-lines when Bloodhound smashes through 800 mph.”
Tests in South Africa in 2019 were a success but the pandemic has had an impact on timescale and funding – photo by Charlie Sperring
It has been a rollercoaster journey for Bloodhound, which has been plagued with hurdles and almost reached the end of the road in December 2018, only to be saved at the final hour by Warhurst.
But those involved have not lost faith in the expensive project. Bloodhound driver Andy Green said: “In my opinion, the Bloodhound team has built the best Land Speed Record Car ever. It made our 628 mph test run look easy.
“We’re now raring to get to 800 mph plus, to showcase this technical marvel and to invite a global audience to join in an incredibly exciting adventure. After the horrible 2020 pandemic year we have all just experienced, the world needs a good news story, and Bloodhound is ready to deliver it”.
Work needs to restart in the next few months to get ready for a 2022 record attempt. The alternative would be to put the car into long-term storage, with no certainty of being able to restart the project.
Main photo by Charlie Sperring
Read more: Bristol-built Bloodhound project saved
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