A Yorkshire-based entrepreneur has stepped forward to save Bloodhound SSC, the project building a 1,000mph vehicle to smash the world land speed record.
The business and assets of Project Bloodhound are being bought for an undisclosed amount by Ian Warhurst, managing director of Melett, a supplier of replacement turbocharger repair kits for the automotive industry.
Andrew Sheridan, joint administrator and partner at specialist advisory firm FRP Advisory described Warhurst as having ‘a strong background in managing highly successful businesses in the automotive engineering sector’.
“[Ian] will bring considerable expertise to bear in taking the project forward,” said Sheridan. “He will be outlining his plans for the project in detail early in the New Year.”
On 7th December 2018 Sheridan and Geoff Rowley, the joint Administrators of Bloodhound Programme Ltd, announced that efforts to secure an investor to take the project forward had not been successful.
Following this announcement, the joint administrators were contacted by a number of other interested parties.
“We have been overwhelmed by the passion that clearly exists for Bloodhound and are thrilled that we have been able to secure a buyer who is able to give this inspiring project a future,” said Sheridan. “We would particularly like to thank the Ministry of Defence and Rolls Royce for their support and collaboration throughout this process, without which it would not have been possible for the project to be in a position to continue.”
Arise Sir Ian Warhurst
I wish the complete project and all who are involved all the best of good fortune for the attempt
As has been said previously a carefully thought out financial package beforehand is essential.
Once more the youth of our country and the world can be inspired
All credit to the entrepeneural saviour.
hear hear ! well done to that white knight ! I hope fate smiles kindly to his endeavors. Bloodhound is not without risk.
Thank you to this publication for informing engineers all over the world of Bloodhound and keeping us up to date with all the developments, hiccups and successes of this inspirational project. I think I can say that we are ALL wishing it well.
Brilliant. So pleased. Saw the run in Newquay and have suported the project all the way through. Was really upset at the thought of the project crashing. Well done and huge thanks to Ian for saving it. It’s nice to know that there are some truly altruistic people out there who can see further than the end of their nose.
Really pleased. Second day of great news for British Engineering for me. Yesterday I found out that Ernest Wright who make the best hand made scissors had been rescued. I’m sure Bloodhound will succeed now.
Its hard to conceive with all the multi billionaires there are out there that it would take more than 24 hours for someone to come forward for a great engineering project like this, when they wast millions on totally worthless garbage all the time like this Jackson Pollock painting, has been sold for about $140 million https://www.nytimes.com/2006/11/02/arts/design/02drip.html
My hat is off to Mr Ian Warhurst and i wish him and all involved great successes.
So happy , Glad there is an upside! wishing you all success, thinking outside of the box on exciting projects like this! push the boundaries and the envelope! if i had the funds i would love to help!
Well done and thank you!
Thank you Ian, as a family we have followed Blood Hound from its inception making regular visits to Bristol and the run at Newquay. One son overcoming his stage fright to come second in a speaking competition about Bloodhound and another son who is now seriously considering an engineering course at University. All the very best to everyone at Bloodhound, very proud to be British…
To find new investors at the eleventh hour with receivership on the horizon is obviously a lifeline in itself.
More so, to be an investor from home turf is all the more endearing and awe inspiring.
This will be one of the most amazing engineering feats of our time when successful, as I am sure it WILL be successful.
Good luck to the future of Bloodhound and may we all see the fruits of their labour soon in the record books, and in the minds and memories of future engineers.
Very good to see the spirit of adventure is alive and kicking! Wishing you and the team the best possible fortune!
Whilst agreeing that Bloodhound is a fascinating project, I ask myself whether it will result in any long-term benefits for British engineering and manufacturing or whether it is just going to be an ego trip for those who want to get into the record books.
Inspiring a new generation of engineers, technologists and scientists – as the project has already done and will continue to do especially if it is successful – will be a long-term benefit. The project has also broken new ground in computer simulation, and promises to be a good testbed for sensor technology and its uses.
Fair comment Stuart. We can only hope that young British engineers and designers will indeed be inspired enough by Bloodhound to bring about a lasting renaissance in UK engineering and design. If/when Bloodhound reaches 1000 mph, no doubt it wil be retired to a museum and, like it’s predecessor may sadly be forgotten.
The main benefits are in the inspiration it provides to future generations where it encourages kids to take up an engineering career. This is intangible but extremelt important, engineering careers are poorly understood by layman, so this kind of easily understood example of engineers at work is very important.
Well done Ian, and the best of luck!
So much has been poured into this project already, it would be a crime to waste it.
I notice ALL the comments above are very positive, which demonstrates the swell of feeling for this enterprise. You can only do well! A successful businessman does not not spend money without reason. You have worked out the risks and here you are.
I believe the whole nation is behind you. Go for it!
Best wishes (squared, nay, cubed)
Chris
Three cheers for Ian Warhurst. This is the only Christmas present I need. If ever I have a turbocharger that needs repairing, I shall specify Melett components and shall henceforth be taking all holidays in Yorkshire and only eat rhubarb, Pontefract cakes and Wensleydale.
Well done, Ian Warhurst, finish what was started…….a great endeavour.
Thank you Ian for stepping up
Great to Ian. Shame on the tight fisted wealthy who are too mean.