NRFC makes first defence sector investment of $10 million to help aerospace startup Hypersonix Launch Systems develop its next generation scramjet engines

The National Reconstruction Fund Corporation (NRFC) has committed to a $10 million equity investment to help Hypersonix Launch Systems (HLS) test, develop, and manufacture their next generation hypersonic aircraft.

Hypersonix is an Australian aerospace company founded in Brisbane in 2019. It is a global leader in hypersonic technology, and its DART vehicle is a hydrogen powered, air-breathing, scramjet aircraft that travels between Mach 5-7.

The company’s long-term goal is to build and commercialise its scramjet propelled multi-generational vehicles for dual use applications, culminating in low earth orbit travel. NRFC funding will pay for product development, the establishment of advanced manufacturing capabilities in Queensland, and hypersonic testing of Hypersonix’s DART vehicles by the U.S. Government’s Defence Innovation Unit.

While most scramjets use kerosene, Hypersonix's patented scramjets are uniquely fuelled by hydrogen, which burns cleanly while allowing for significantly faster and longer sustained flights. They are also better for the environment as future products will be reusable and create zero CO2 emissions.

Hypersonix’s DART is a low cost, 3.5-metre, single-use vehicle that flies at Mach 5-7. They are manufactured in Australia and will be used as a testbed for other cutting-edge technologies.

Hypersonix’s future product roadmap includes:

- VISR: A reusable 8-metre unmanned aircraft that flies at Mach 5-10 and lands on a standard runway. It can be used for multiple applications including for long range military surveillance and cargo flights.

- DELTA VELOS: A reusable 16-metre aircraft that flies at Mach 5-12 and can be used for satellite launches and low earth supply runs.

The company is also home to HYPERTWIN X, a virtual hypersonic design, testing, and simulation environment that draws on data from over 6,000 shock tunnel experiments conducted at the University of Queensland. HYPERTWIN X will be further enhanced by insights from upcoming high-cadence flight tests.

Hypersonix’s first DART test flights will take place at NASA early next year and the company also has a partnership in place with Nasdaq-listed Kratos Defence & Security Solutions (KTOS).

The NRFC’s funding is part of a $46 million Series A funding round, led by High Tor Capital with co-investment from QIC and global defence investors SaaB and RKKVC. North Ridge Partners, an Australian-based aerospace and defence investment bank, acted as exclusive financial advisor to the Hypersonix’s Series A funding round.

NRFC CEO David Gall said, "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.”

“Australia has been a global leader in hypersonic technology since 1989, and the technology developed at the University of Queensland has the potential to be used in defence, satellite launches, and commercial aviation.”

“Investing in Hypersonix will help to boost Australia’s aerospace capabilities by creating highly skilled design, engineering, and manufacturing jobs in regional Queensland.”

Hypersonix Launch Systems Co-Founder and Chief Technology Officer Dr Michael Smart said, “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.”

Hypersonix Chief Executive Officer Matt Hill said, “We are extremely proud to have the NRFC join our cap table. Their investment is a significant endorsement of our mission and the extraordinary team behind it. This is a defining moment for Hypersonix, and one that reflects the growing national recognition of the need for sovereign aerospace capability.”