So many investors wanted in on the supersonic jet in development in Centennial that Boom Technology decided to accept more funding than it set out to attract. It raised $33 million, the company plans to announce Wednesday.
“We now have all the money we need to go and build an airplane,” Boom CEO and co-founder Blake Scholl said.
The plane, of course, is no ordinary aircraft. It intends to travel faster than last century’s Concorde, but will be smaller, lighter and cheaper. Boom says the future plane will travel faster than the speed of sound and fly from New York to London in 3 hours and 15 minutes — for $5,000 round trip. The lure of faster, affordable travel enticed investors, but their attraction to Boom is a supersonic jet that is feasible and marketable.
“There has been extreme interest in Boom, not minor interest. Not paper airplanes either. Highly suitable investors and global airlines are looking at this. They see the disruptive nature of this airplane and they want to be part of it,” said Michael Boyd, president of Boyd Group International, an aviation consulting firm in Evergreen that is not an investor. “The thing is with this entity, they (Boom) are not dreamers. These people don’t want to just put out a supersonic airplane. They’re looking at it from a market perspective, not a dreamer’s.”