Rolls-Royce Holdings PLC (LSE:RR.) shares revved up after it reported successful testing of its new fuel-efficient UltraFan aerospace engine, which it said would be a "game changer" for the industry.
The FTSE 100-listed jet engine maker said it was "a historic moment" and the first time in 54 years it has tested a brand-new engine architecture, the culmination of work with the UK government and European Union.
UltraFan is said to deliver a 10% efficiency improvement compared to its current Trent XWB, which it says is the most efficient large aero engine currently in service.
Chief executive Tufan Erginbilgic said the UltraFan demonstrator "is a game changer" in the push by the airline industry to reduce greenhouse gas emissions, adding that the technologies being testing in the programme "have the capability to improve the engines of today as well as the engines of tomorrow".
Rather grandiosely, he claimed the tests showed "we are witnessing history in the making; a step-change in engine efficiency improvement".
Shares in Rolls-Royce rose almost 2% in early trading to 155p.