A 1,000MPH rocket-powered car aiming to break the world land speed record has been re-branded and re-located after it was saved from administration by a Barnsley businessman.

Ian Warhurst, the former managing director of Melett - a turbocharger parts company based at the Zenith Business Park in Barugh Green, saved the The Bloodhound Project from the scrap-heap after the project went into administration last year.

Back in October the project was looking to raise £25m in investments to reach completion, but in December joint administrators of the project, Sheridan and Geoff Rowley, announced fundraising was unsuccessful and were on the search for potential suitors to come forward.

Following the injection of an undisclosed amount from Ian, the project is firmly back on track and is ready to move forward under the new ownership and financial sustainability.

A number of changes have already been made to the project, including moving the car to a new headquarters at SGS Berkeley Green University Technical College on the Gloucestershire Science and Technology Park; a rename to the Bloodhound Land Speed Record (LSR); and a visual transformation of the car to red and white livery.

“Since buying Bloodhound from the administrators last December, the team and I have been overwhelmed by the passion and enthusiasm the public have shown for the project,” said Ian.

“Over the last decade, an incredible amount of hard graft has been invested in the project and it would be a tragedy to see it go to waste.

“Starting a clean slate, it’s my ambition to let Bloodhound off the leash and see just how fast this car can go.

“I’ve been reviewing the project and I’m confident there is a commercial business proposition to support it.

“I’ll provide robust financing to ensure there is cash-flow to hit the high-speed testing deadlines we set ourselves.”

The car itself will be powered by a Rolls Royce EJ200 jet engine and a Nammo rocket, with the driver being current world record holder of 763mph - Andy Green.

Bloodhound’s main aim is to inspire the next generation about science, technology, engineering and mathematics, as well as to share an iconic research and development programme with a global record and ultimately setting a new world land speed record of 1,000mph.

“We’re currently in the planning phase, we now need to do some high speed testing in excess of 400mph.

“That way we can see how it reacts to the environment and the ergonomics - and if what we’re seeing on the computer is what we’re seeing in reality.

“Bloodhound over the past ten years has been amazing with getting people into engineering, it’s fantastic.

“I’m an engineer myself and I’m now involved in the most exciting project in the world and I love it, I think it’s great. We’re back up and running and going to go for it, so watch this space.”

Engineers are looking to start high-speed trials as soon as possible, which could take place in the South African desert later this year, but this has not yet been confirmed.

Former CEO of the Bloodhound Project, Richard Noble, said: “It was very hard to fight to create the Bloodhound car, the largest STEM programme in the UK...

“Our weakness had always been finance and now after administration, with Ian Warhurst the team finally has the financial support it needs to drive forward with confidence and achieve what we set out to do nearly 12 years ago.”