Richard Varvill reflects on the emotional collapse of Reaction Engines, a UK aerospace firm that developed cutting-edge heat exchanger tech for hypersonic flight.

Originating from the 1980s Hotol project, the company came close to success but failed in late 2024 due to a lack of funding, despite promising tech and support from major investors like Rolls-Royce.

Staff were devastated, with many in tears during the final announcement. Former team members take pride in the innovation and culture, though regret the mission remains unfinished.

The company’s closure highlights the harsh reality of funding gaps in long-term aerospace ventures

“we failed because we ran out of money.”