Boeing announced a partnership with Aerion, a Reno, Nev.-based company pioneering next-generation supersonic aircraft.

As part of the agreement, Boeing made a significant investment in Aerion to accelerate technology development and aircraft design, and unlock supersonic air travel for new markets. Terms of the deal were not disclosed.

Boeing will provide engineering, manufacturing and flight test resources, as well as strategic vertical content, to bring Aerion’s AS2 supersonic business jet to market.

The AS2 is designed to fly at speeds up to Mach 1.4 or approximately 1,000 miles per hour. With the ability to fly up to 70 percent faster than today’s business jets, the AS2 will save approximately three hours on a transatlantic flight while meeting environmental performance requirements. The aircraft is slated for first flight in 2023.