Boeing [NYSE: BA] has invested in Reaction Engines Limited, a leader in advanced propulsion systems based in Oxfordshire, United Kingdom — Reaction Engines' technology will contribute to the next-generation of hypersonic flight and space access vehicles.

Reaction Engines is known for its Synergetic Air-Breathing Rocket Engine (SABRE), a hybrid engine blending jet and rocket technology that is capable of Mach 5 in air-breathing mode and Mach 25 in rocket mode for space flight. As part of the SABRE program, Reaction Engines developed an ultra-lightweight heat exchanger that stops engine components from overheating at high speeds, thus improving access to hypersonic flight and space.

Founded by three propulsion engineers in 1989, Reaction Engines produces robust technical designs for advanced heat exchangers, air-breathing engines, and the vehicles they could power. These capabilities may lead to high-speed point-to-point transport that is cost-effective and sustainable.

Boeing HorizonX Ventures participated in this $37.3 million Series B funding round alongside Rolls-Royce Plc and BAE Systems. The Boeing HorizonX Ventures investment portfolio is made up of companies specializing in technologies for aerospace and manufacturing innovations, including autonomous systems, energy storage, advanced materials, augmented reality systems and software, machine learning, hybrid-electric propulsion and Internet of Things connectivity.

Steve Nordlund, VP of Boeing HorizonX, noted that Reaction Engines unlock advanced propulsion that could change the future of air and space travel and Boeing expects to leverage their technology to support the company's pursuit of hypersonic flight.

Mark Thomas, the CEO of Reaction Engines, added that this step that will contribute to the firm's efforts to develop a commercial technology business and accelerate opportunities to further the future of air and space travel through SABRE technology.