BAE Systems purchases 20 per cent of Oxfordshire-based aerospace company

BAE Systems is set to buy 20 per cent of aerospace technology company Reaction Engines for £20.6 million. BAE are to provide engineering support to the Oxford-based company as it seeks to develop a hybrid rocket jet engine and will also become Reaction Engines preferred supplier. Reaction Engines has been working on the “Synergetic Air-Breathing Rocket Engine” (Sabre) since 1989 and has received over £100m in Government funding.