> Crispin Odey's hedge fund halves in value - Business Insider> Odey Asset Management's assets under management fell from $11.7 billion at the start of 2015 to $5.5 billion.http://www.businessinsider.com/crispin-odey-hedge-fund-asset-management-value-2017-10^^ This sort of thing could explain the odd changes in their plans and claims of proposed finances - all those times when we thought they had the 100s of millions promised that they needed.
The UK gov. denied changing the terms of the grant. They claimed RE had failed to piece together a coherent business plan until 2016, iirc. All water under the bridge, anyway
Quote from: JCRM on 11/10/2017 10:03 amThis month's Spaceflight (ISSN 0038-6340, Vol 59 No. 12 December 2017) mentions the HTX in the 'Briefing Notes' section, ending with QuoteREI says that flight tests could begin within five years with an X-series research vehicle which will integrate airframe, propulsion system and associated systems for a hypersonic vehicle which may satisfy US Air Force requirement for a hemispheric strike systemHave we seen the 5 year X-series claim before?Aside from sounding like a troll what is your point?
This month's Spaceflight (ISSN 0038-6340, Vol 59 No. 12 December 2017) mentions the HTX in the 'Briefing Notes' section, ending with QuoteREI says that flight tests could begin within five years with an X-series research vehicle which will integrate airframe, propulsion system and associated systems for a hypersonic vehicle which may satisfy US Air Force requirement for a hemispheric strike systemHave we seen the 5 year X-series claim before?
REI says that flight tests could begin within five years with an X-series research vehicle which will integrate airframe, propulsion system and associated systems for a hypersonic vehicle which may satisfy US Air Force requirement for a hemispheric strike system
Dr Parker: In the case of that particular programme, which is one I have personally championed for a long time, the announcement of grant funding was simultaneously with the words “subject to a business case”; in other words, it is potentially a very large investment in what we would call a novel and contentious type of investment. It is a small company in the early phase of a very novel technology, so Government investment in it would transform that company from being a small one with some good ideas, but not a great deal of capital, into a company with considerable potential. Our end goal was to secure this technology for the UK, not see it go abroad as has happened sometimes in the past. There was a process of helping the company understand the need to produce, first, a very coherent programme in steps. We were not simply going to write a cheque for £60 million and walk away; we needed to protect the taxpayer’s investment and work with the company to ensure that the right kind of terms and conditions went into the grant offer letter, which has gone out. The project management board is meeting literally this week, so the project is now up and running
We therefore ask the Government to explain, in response to this report:a) why it changed the conditions of the grant made to Reaction Engines almost two years after announcing the investment;b) why it estimated that the first £35 million would be made available in 2014/15 and did not foresee any delays that EU State Aid regulations might present;c) whether any other space and satellite SMEs have been affected by similar delays in direct Government investment reaching them; andd) the key lessons it has learnt from this project and what changes it will make to the conduct of any future direct investments in the UK space sector.
I had trouble finding the evidence REL provided to the relevant committee. Here it is.
^^ This sort of thing could explain the odd changes in their plans and claims of proposed finances - all those times when we thought they had the 100s of millions promised that they needed.
Quote from: john smith 19 on 11/12/2017 02:57 pmQuote from: JCRM on 11/10/2017 10:03 amThis month's Spaceflight (ISSN 0038-6340, Vol 59 No. 12 December 2017) mentions the HTX in the 'Briefing Notes' section, ending with QuoteREI says that flight tests could begin within five years with an X-series research vehicle which will integrate airframe, propulsion system and associated systems for a hypersonic vehicle which may satisfy US Air Force requirement for a hemispheric strike systemHave we seen the 5 year X-series claim before?Aside from sounding like a troll what is your point?My question was whether there were any other sources for REI giving a (potential) 5 year timescale for progressing phase III of AF161-074 to flight tests (i.e. other than the single paragraph summary article)
Quote from: JCRM on 11/10/2017 10:03 amThis month's Spaceflight (ISSN 0038-6340, Vol 59 No. 12 December 2017) mentions the HTX in the 'Briefing Notes' section, ending with QuoteREI says that flight tests could begin within five years with an X-series research vehicle which will integrate airframe, propulsion system and associated systems for a hypersonic vehicle which may satisfy US Air Force requirement for a hemispheric strike systemHave we seen the 5 year X-series claim before?And precisely what issue do you have with the source that exists and was quoted that you require another source?
Quote from: Star One on 11/14/2017 11:58 amQuote from: JCRM on 11/10/2017 10:03 amThis month's Spaceflight (ISSN 0038-6340, Vol 59 No. 12 December 2017) mentions the HTX in the 'Briefing Notes' section, ending with QuoteREI says that flight tests could begin within five years with an X-series research vehicle which will integrate airframe, propulsion system and associated systems for a hypersonic vehicle which may satisfy US Air Force requirement for a hemispheric strike systemHave we seen the 5 year X-series claim before?And precisely what issue do you have with the source that exists and was quoted that you require another source?The issue I have with the source *I* posted is the "briefing notes" section isn't a high quality source. It publishes very short summaries (this piece was two sentences, of which I included half) of "also in the news" - stripped of context and subject to editorial interpretation. They are usually a VERY good signpost for interesting news, but in this case I have been unable to find the story/press release this summary is referring to.
Quote from: Star One on 11/14/2017 11:58 amQuote from: JCRM on 11/10/2017 10:03 amThis month's Spaceflight (ISSN 0038-6340, Vol 59 No. 12 December 2017) mentions the HTX in the 'Briefing Notes' section, ending with QuoteREI says that flight tests could begin within five years with an X-series research vehicle which will integrate airframe, propulsion system and associated systems for a hypersonic vehicle which may satisfy US Air Force requirement for a hemispheric strike systemHave we seen the 5 year X-series claim before?
Quote from: JCRM on 11/10/2017 10:03 amThis month's Spaceflight (ISSN 0038-6340, Vol 59 No. 12 December 2017) mentions the HTX in the 'Briefing Notes' section, ending with QuoteREI says that flight tests could begin within five years with an X-series research vehicle which will integrate airframe, propulsion system and associated systems for a hypersonic vehicle which may satisfy US Air Force requirement for a hemispheric strike systemHave we seen the 5 year X-series claim before?
Quote from: Star OneAnd precisely what issue do you have with the source that exists and was quoted that you require another source?The issue I have with the source *I* posted is the "briefing notes" section isn't a high quality source. It publishes very short summaries (this piece was two sentences, of which I included half) of "also in the news" - stripped of context and subject to editorial interpretation. They are usually a VERY good signpost for interesting news, but in this case I have been unable to find the story/press release this summary is referring to.
And precisely what issue do you have with the source that exists and was quoted that you require another source?
It's interesting for several reasons.4) "A letter of endorsement from a Versatile Affordable Advanced Turbine Engines (VAATE) participant is highly encouraged."Mfg partners for this are "Liberty Works," Honeywell, Lockheed Martin, Boeing, Northrup Grumman, Williams International, Teledyne Turbine EnginesWheather it should be full engine mfg, or wheather REI could do the whole engine and should be partnering with an airframe mfg, is another issue.
Phase 2 talks about "Fabricate a scaled prototype of the heat exchanger" but I wonder if REI can get the contract authority to accept a segment of a full size design (tailored to an engine partners design?) to avoid scale effects.
It'll be interesting if the actual HX is mfg in the US. Judging by some of the pictures up thread I'm guessing it won't be. It's a particularly difficult issue given the US fondness for asserting jurisdiction over IP from other countries.
To support HTX testing, Reaction Engines is constructing a new high-temperature airflow test facility [...] and then conduct the testing of a Reaction Engines-supplied precooler starting in the spring of 2018
Quote from: JCRMThey are usually a VERY good signpost for interesting news, but in this case I have been unable to find the story/press release this summary is referring to.And the odds are that it did come from a press release somewhere.
They are usually a VERY good signpost for interesting news, but in this case I have been unable to find the story/press release this summary is referring to.
A single segment of modules is a scaled precooler - but I strongly suspect the "scaled" usage indicates a scaled precooler is acceptable for phase II.
I don't expect the preecooler to be built in the US.I suspect it would be reasonably time consuming and expensive to transfer the expertise for constructing the precooler modules compared to buying the already built segments from REL so I would expect a project accountant to wave it through - it's only a scaled prototype after all. It would be nice to know just what's going on, but I don't expect to find out.
Given the "REI says that" usage, I strongly expect press release but I've not seen any of the other usual suspects pick up on it. Another alternative would have been a talk given by Dissel, but I've not seen anything about that.
From Jeff Foust's Twitter: Jeff Foust @jeff_foustNov 22Mark Wood: see applications for SABRE in both space launch and hypersonics. Think engine is ready for flight test in 2023. What vehicle it goes on still under consideration. #Space17
It's an exciting day for Reaction Engines - test equipment is starting to arrive in Colorado for the #HTX TF2 high temperature test facility! Stay tuned! @ReactionEngines
QuoteIt's an exciting day for Reaction Engines - test equipment is starting to arrive in Colorado for the #HTX TF2 high temperature test facility! Stay tuned! @ReactionEngineshttps://twitter.com/reactionengusa/status/936725591864229888
Since there may be interest, I attach a few images of the MTB facility used for RASCAL...The engine shown was operating with either water injection or LAIR, I can't recall which. It was a J-85, though most testing was done on the F-15 F100 engine.The J-79 engine provided the pressure and hot gas to simulate M4 at 150K ft altitude. To cool the J-79 exhaust (which was running on burner) we pumped something like 300 lbm/sec of LN2 into the plenum, and thence to the inlet of the engine under test.It was pretty complicated test stand. Cost about $2.3M as I recall, in 2003 dollars.The site was later used for the AirLaunch FALCON program for DARPA and then became the Virgin rocket engine test stand for LauncherOne.
Quote from: HMXHMX on 12/02/2017 03:46 amSince there may be interest, I attach a few images of the MTB facility used for RASCAL...The engine shown was operating with either water injection or LAIR, I can't recall which. It was a J-85, though most testing was done on the F-15 F100 engine.The J-79 engine provided the pressure and hot gas to simulate M4 at 150K ft altitude. To cool the J-79 exhaust (which was running on burner) we pumped something like 300 lbm/sec of LN2 into the plenum, and thence to the inlet of the engine under test.It was pretty complicated test stand. Cost about $2.3M as I recall, in 2003 dollars.The site was later used for the AirLaunch FALCON program for DARPA and then became the Virgin rocket engine test stand for LauncherOne.So it's true. You really can buy almost anything on eBay. I guess the obvious question is did the contract say it was company property after it was built, or did DARPA retain ownership and you were acting as "custodians" of it?Completely OT (but more appropriate to the "General Hypersonics" thread") at the time were you aware of the GD team who'd re-built a Phantom to reach Mach 3 in the mid 70's, or did you think MIPCC had not been tried on an aircraft engine since the 1960's?