Boom Supersonic has announced several important updates to the progression of its business as it gears up towards offering its Overture.
Overture is what Boom Supersonic hopes will be the return to supersonic travel and the fastest aircraft on offer to customers.
Thus far, the aircraft has received commitments from several parties, and Boom has signed numerous strategic partnerships.
New Funding Secured
Boom says it has secured the closing of an investment round, which included a strategic investment from NEOM Investment Fund.
As part of the latest race for cash, Boom’s total funding now exceeds USD 700 million. However, this still falls short of what many analysts expect Boom will require to achieve their ambitions.
NEOM Investment Fund is labelled a critical strategic investment arm of NEOM, a sustainable regional development in the northwest of Saudi Arabia.
Boom’s XB-1 To Fly This Year
Boom says that after many years of delays, pushback, and such, their XB-1 will complete its first flight later this year at Mojave Air & Space Port.
Progression comes following receiving its airworthiness certification from the Federal Aviation Administration.
In recent years, the XB-1 has been a crucial part of Boom’s process of getting its first Overture in the air, acting as a critical demonstrator for the company.
Boom Supersonic does, however, say the timeline remains on track for a flight at the end of the year.
This isn’t the first time the company has stated a flight would take place. As a result, some will still be sceptical this will be achieved.
However, it’s hard to argue that Boom isn’t now closer than ever, thanks to the certification received from the FAA.
Engine Hits Milestone
Away from the XB-1 Boom says that their developed propulsion system Symphony has conducted its key 2023 engineering milestone.
This has been done successfully and is the Conceptual Design Review. Boom says this is important to pave the way forward for a hardware rig test planned for 2024.
Update On Overture Superfactory
Meanwhile, Boom’s Superfactory, which will be crucial in producing the eventual Overture, is progressing ahead of schedule.
Late September saw Boom commemorate the topping out of the Superfactoy. The past six weeks have seen the decking on top of the structure, pouring the concrete floor, and installing metal side panels.
The expectation is that completion will come in the second quarter of 2024, which would be ahead of the company’s original schedule.