BAE Systems has acquired a 20% stake in the company, which is working on an engine that would cut travel time from the UK to Australia to just four hours.
UK-based aerospace engineering company Reaction Engines secured £20m ($30.8m) from defence and aerospace company BAE Systems in exchange for a 20% stake on Monday.
Reaction Engines is also set to receive a $92.5m grant from the UK government to support research costs.
Reaction Engines is working on an airplane engine, dubbed Sabre, that would dramatically cut travel times around the globe, enabling flights from London to Sydney in as little as four hours.
The technology would provide air travel two…
