Industry Boom Supersonic secures US$100 Million for Overture jet

Aircraft manufacturing company Boom Supersonic has announced that it secured a new investment round to fund the project. A total of US$100 Million has been collected from various investors.

Blake Scholl, founder and CEO of Boom Supersonic commented: “This new funding allows us to advance work on Overture, the world’s first economically viable supersonic airliner.”

This new investment round brings the total funding of the supersonic jet project to US$141 Million. Main investors are Emerson Collective, SV Angel, Caffeinated Capital, Y Combinator Continuity as well as modern tech companies like Google, Dropbox, Airbnb or Stripe.

According to the company, the supersonic aircraft will wear the name Overture. The new funds help Boom to furthermore develop the commercial airliner that is planned to transport tens of millions of people one day. Overture will fly at Mach 2.2, said the company.

Scholl added, that Boom´s vision is to remove barriers to experience the planet. Fares for flights with Overture would be similar to today´s business class. In the end, he said, Boom hopes to make high-speed flight affordable to all.

Andy Karsner, Managing Partner at Emerson said: “Our interest in Boom is driven by its vision to enable greater human connection and more empathetic natural and cultural experience through ecologically conscientious design. Boom has the leadership, values, and potential to accelerate many advances lightweight carbon composites and greener fuels— that will reduce the climate impacts of aviation [...] We’re thrilled to partner with a company that’s committed to revolutionizing travel responsibly.”

Overture is said to become the most environmentally friendly supersonic jet ever made. This is because of advanced engines and aerodynamics. The fuselage will be made of lightweight carbon composites that will reduce the impacts of aviation in the environment.

Currently, Boom is in the process of assembling a 1/3-scale prototype of the supersonic aircraft. Called XB-1, the vehicle is set to take to the skies this year. With a flying prototype aircraft, Boom hopes to demonstrate key technologies for supersonic flight.

Overture is likely to begin passenger service in the mid-2020s, said the company. Just recently, Boom relocated its facility to a bigger location in Centennial, Colorado. To date, customers have ordered 30 Overture aircraft. Most prominent airlines are the Virgin Group and Japan Airlines.