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A peek at Ramjet-X. Photo: Courtesy of Hermeus

Hermeus is building what it's calling Ramjet-X — a super-fast aircraft that blurs the line between large drone, air-defense target and test bed for propulsion and materials science.

Why it matters: It's another big bet on unmanned speed from the company, which this year was valued at $1 billion post-money and moved its headquarters from Georgia to California.