Last week, The Bloodhound LSR group announced that they would need to raise 8 million British pounds (About $10.5 million) by the end of the month if they are to meet their deadline and attempt a new world record in 2021.
Originally, the group was planning to do an official attempt next year at the Hakskeenpan in South Africa's Kalahari Desert. They managed to achieve 628 mph in a test run last November and hope that the official attempt can exceed 763 mph, the current land record. They've made several claims at hoping to reach over 1,000 mph, but this has yet to be seen.
While that seems like a great deal of money, they explain that it's needed to pay aerospace and motorsport experts involved in the project, as well as the development of the vehicle itself. They are building a literal rocket, after all.
“The clock is ticking to raise the necessary investment to re-group the team and crack on with the rocket program and other car upgrades in time to hit our 2021 deadlines,” said Ian Warhurst, Bloodhound LSR CEO. “The project remains dormant while we try to secure the funding but at a cost of tens of thousands per month of overheads, and the threat that we miss the weather window next year, we cannot remain dormant for long.”
This isn't the first time this has happened. The organization was put on hold back in 2018 for the same reason. They were able to continue development after Warhurst made a sizable contribution to their efforts.
Good luck, Bloodhound. We want to see you succeed.