Hypersonix raises USD $46 million to advance hydrogen hypersonics

Hypersonix Launch Systems has secured USD $46 million in a Series A funding round from a consortium of global defence and aerospace investors to further develop reusable hydrogen-powered hypersonic aircraft.

The funding round was led by High Tor Capital, with participation from the National Reconstruction Fund Corporation (NRFC), Queensland Investment Corporation (QIC), European defence company Saab, and Polish family office RKKVC. North Ridge Partners acted as exclusive financial advisor for the transaction.

Focus on sustainable technology

Hypersonix, based in Brisbane and employing 45 staff, aims to create a new class of sustainable, high-performance flight systems powered by green hydrogen. Its proprietary SPARTAN scramjet engine is constructed using 3D printing processes, is reusable, and can reach speeds up to Mach 12. Unlike traditional scramjets that operate on kerosene, the SPARTAN engine uses hydrogen and emits no CO2, presenting a solution tailored for diverse defence and aerospace applications.

Dr Michael Smart, co-founder of Hypersonix, led the development of the SPARTAN technology. Dr Smart is the former Chair of Hypersonic Propulsion at the University of Queensland and previously worked as a research scientist at NASA.

"SPARTAN is more than a propulsion system. It's a breakthrough in reusable hypersonic flight. What we're building is a sovereign platform that's clean, cost-effective, and engineered for the real world," said Dr Smart.

Co-founder David Waterhouse commented on the significance of the recent capital injection for Australia's aerospace sector.

"Hypersonix was founded on the belief that Australia could lead the world in sustainable hypersonic flight," he said. "This raise validates that vision."

Investor perspectives

The NRFC committed USD $10 million as part of its first investment into the defence sector. Defence is one of the NRFC's focal points, and NRFC CEO David Gall outlined the rationale behind the decision.

"Defence is one of the NRFC's priority areas and we see huge potential in backing Australian companies and innovations that build our sovereign capability while also tapping into the global market for hypersonic and counter hypersonic capabilities among our friends and allies. Investing in Hypersonix will help to boost Australia's aerospace capabilities by creating highly skilled design, engineering, and manufacturing jobs in regional Queensland," said Gall.

High Tor Capital CEO James Chiswell expressed support for the current platforms under development at Hypersonix.

"We see enormous potential in platforms like DART AE and VISR that are transforming how we think about access to the edge of space and high-speed defence. High Tor Capital is excited to be partnering with Hypersonix's world leading team, which is pushing boundaries in this critical domain," said Chiswell.

Nicholas Guest, Partner at QIC Ventures, commented on the significance of backing an Australian-based company in a globally competitive sector.

"Hypersonix represents a rare opportunity to back a local company at the forefront of globally significant hypersonic technology. Investing in Hypersonix is an investment in Queensland as a base for world-leading aerospace innovation. Building on a proud history of University of Queensland research, Hypersonix is taking the lead in technology critical to our allies' sovereign capabilities and cementing Queensland's place at the forefront of the global hypersonics race. This is breakthrough technology allowing Australia and its allies to fly faster, further and more often with an unmatched combination of speed, sustainability and cost advantage. The Hypersonix team is proving Queensland tech can hold its own on the world stage, reflected by the calibre of global investors joining QIC in this funding round," said Guest.

Commenting on the support from government-backed entities and major investors, Hypersonix CEO Matt Hill highlighted the broader impact for national industry and security priorities.

"This raise marks a major milestone as we prepare to launch the world's first hydrogen-powered hypersonic aircraft," he said. "Having Australia's sovereign investor in manufacturing capability behind such a critical strategic capability sends a powerful message. It shows real confidence in our mission and highlights the importance of building clean, reusable aerospace systems that meet today's national security needs while shaping tomorrow's industry."

Chairman Arthur Sinodinos, former US Ambassador to Washington and previous Australian Federal Minister for Science and Industry, reflected on the importance of supporting domestic aerospace enterprises.

"This investment is a strong vote of confidence in Hypersonix and in Australia's ability to lead the world in next-generation aerospace," he said. "It's also a sign that we're stepping up to develop sovereign capabilities that matter."

NASA and US Department of Defence collaboration

Part of the newly raised funds will support a NASA-backed test flight of the DART AE-Hypersonix's 3.5-metre-long, hydrogen-fuelled hypersonic vehicle powered by the SPARTAN engine. The DART AE is scheduled to fly under the US Department of Defence's HyCAT programme, led by the Defence Innovation Unit (DIU) and launched from NASA's Wallops Flight Facility in Virginia. Hypersonix was the first to receive a prototype contract under the HyCAT initiative, selected from over 60 applicants.

The DART AE mission is expected to be the world's first sustained hypersonic flight powered by green hydrogen. Alongside this, proceeds from the Series A funding will establish advanced manufacturing facilities in Queensland and fast-track work on the company's second platform, VISR. VISR is designed as an 8-metre-long, fully reusable, hydrogen-fuelled hypersonic aircraft, intended for intelligence, surveillance, reconnaissance, rapid delivery, and space system testing missions. VISR will use four SPARTAN engines and advanced ceramic matrix composites to withstand the high temperatures encountered during sustained hypersonic flight.

Since its founding in 2019, Hypersonix has concentrated on developing high-speed, low-emission propulsion systems that are reusable and tailored to military and aerospace markets, positioning Queensland as a notable centre for aerospace engineering and manufacturing jobs.