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Hypersonix Launch Systems, a Brisbane-based startup developing reusable hydrogen-powered hypersonic aircraft, has raised $46 million in a Series A funding round led by High Tor Capital, a UK investor in national security and frontier technology.
The aerospace technology company’s raise was also supported by European defence company Saab, Polish family office RKKVC and Queensland Investment Corporation (QIC).
The federal government’s National Reconstruction Fund Corporation (NRFC) participated in the latest round, with its $10 million equity stake its first investment in Australia’s defence sector.
Founded in 2019, Hypersonix is developing a new class of sustainable, high-performance flight systems powered by green hydrogen.
The company’s proprietary SPARTAN scramjet engine is 3D-printed, reusable and capable of reaching Mach 12 with no moving parts.
Unlike conventional scramjets powered by kerosene, SPARTAN uses hydrogen, producing zero carbon-dioxide emissions which the company says offers a reusable, low-maintenance solution for a range of high-speed defence and aerospace missions.
The technology was developed by Dr Michael Smart, a former NASA research scientist and co-founder of Hypersonix.
“SPARTAN is more than a propulsion system; it’s a breakthrough in reusable hypersonic flight,” says Smart.
“What we’re building is a sovereign platform that’s clean, cost-effective, and engineered for the real world.”
Co-founder David Waterhouse says the capital raise is a defining moment for Australia’s aerospace ambitions.
“Hypersonix was founded on the belief that Australia could lead the world in sustainable hypersonic flight,” he says. “This raise validates that vision.”
CEO Matt Hill says the funding will accelerate Hypersonix’s mission to deliver operationally useful platforms that align with both national and allied priorities.
“This raise marks a major milestone as we prepare to launch the world’s first hydrogen-powered hypersonic aircraft,” he says.
“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.”
Hypersonix employs 45 people in Brisbane across aerospace engineering, advanced manufacturing and testing roles.
High Tor Capital CEO James Chiswell says his team sees enormous potential in the Hypersonix platforms.
“DART AE and VISR are transforming how we think about access to the edge of space and high-speed defence,” says Chiswell.
NRFC was established by the Australian Government to support priority areas of the economy and while defence is among these priorities, the investment in Hypersonix is its first in the sector.
“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,” says David Gall, the CEO of NRFC.
“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.”
QIC Ventures partner Nicholas Guest says Hypersonix represents a rare opportunity to back a local company at the forefront of globally significant hypersonic technology.
“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,” he says.
The Series A round will help fund the NASA-backed test flight of DART AE, a 3.5-metre-long hypersonic vehicle powered by SPARTAN.
DART AE will fly under the US Department of Defense’s HyCAT program, delivered by the Defense Innovation Unit and launched from NASA’s Wallops Flight Facility in Virginia.
The DIU is the only US defence organisation solely focused on accelerating the adoption of disruptive commercial technologies by the military. Hypersonix was the first prototype contract awarded under HyCAT, selected from more than 60 applicants.
The mission is expected to mark the world’s first sustained hypersonic flight using green hydrogen.
Hypersonix plans to use the new capital to establish advanced manufacturing capabilities in Queensland and also fast-track development of Hypersonix’s second platform, VISR (Velos Intelligence, Surveillance and Reconnaissance), which is an eight-metre-long, fully reusable, hydrogen-fuelled hypersonic aircraft for ISR missions, rapid delivery, and space system testing.
VISR will use four SPARTAN engines and advanced ceramic matrix composites to withstand the extreme thermal demands of sustained hypersonic flight.
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