Project Bloodhound, which aimed to break the land speed world record, has been scrapped after efforts to secure investors failed.
The firm behind the project went into administration on Monday 15 October this year.
Since the announcement administrators have tried to find investors to see the project to completion. They needed £25 million of funding.
Despite overwhelming public support and possible investors, the mission has been cancelled.
Project Bloodhound was founded in 2007 and planned to break the land speed world record on specially built tracks in South Africa.
The Bristol-built supersonic car was set to reach speeds of up to 1000 mph with driver Wing Commander Andy Green.
It reached 200mph during tests at Newquay Airport in Cornwall last year.
The Administrators of Bloodhound Programme Ltd said:
Since the company entered into administration we have worked tirelessly with the Directors to identify a suitable individual or organisation who could take the project forward.
Over the past 11 years the project operated with support from companies including Rolls-Royce and Rolex.
Its education project reached more than two million children across the country, encouraging young people to get into engineering, science, maths and technology.