Reaction Engines Limited (02413577): administration
- Status
- In administration
- Administration began
- 2024-10-31
- Administrators
- Sarah O'Toole, Edward Williams, Peter David Dickens
- Administrators' firm
- PwC
- Incorporated
- 1989-08-15
- Location
- Leeds
- Industry
- 71121 Engineering design activities for industrial process and production
Why it went into administration
- Competition / price pressure
From the administrators' statement
The Company, together with its subsidiaries, was an established business in the advanced rocket, aerospace and automotive industry. The Company which was founded in 1989 by a team of engineers, focussed on thermal management technologies.
The Company’s operations consisted of three main divisions: commercial, space, and defence. Largely a research and development company, the Company was historically reliant upon funding from bodies such as the UK Space Agency to conduct studies. As the Company developed and patented various technologies and designs, it sought to commercialise its operations by selling manufactured products such as intercoolers, heat exchangers and radiators to Formula 1 teams and aerospace companies.
On appointment, the Company employed 208 individuals and operated out of one main site in Culham, Oxfordshire, which had in-house manufacturing capabilities. The Company also had a small US-based subsidiary in Denver, Colorado, which featured a bespoke testing facility. In 2024, the Company established a branch in UAE (REIL), although operations are limited, with only one contractor responsible for increasing the presence in UAE. The Company had no external debt as all historical investment was made via equity.
Administrators' statement of proposals (2025-01-06) · Companies House register