Parsons Marine Steam Turbine Company Parsons Marine Steam Turbine Company Parsons Marine Steam Turbine Company was a British engineering company based in Wallsend, North East England, on the River Tyne. The company was founded by Charles Algernon Parsons in 1897 with £500,000 of capital, and specialised in building the steam turbine engines that he had invented for naval use. The first ship to use a Parsons propulsion system was "Turbinia", launched in 1894; the successful demonstration of this vessel led to the creation of the company and the subsequent construction of the engines for the first two turbine-powered destroyers for the Navy, and , launched
Gas turbine to develop their own gas turbine sports car in 1968, the Howmet TX, which ran several American and European events, including two wins, and also participated in the 1968 24 Hours of Le Mans. The cars used Continental gas turbines, which eventually set six FIA land speed records for turbine-powered cars. For open wheel racing, 1967's revolutionary STP-Paxton Turbocar fielded by racing and entrepreneurial legend Andy Granatelli and driven by Parnelli Jones nearly won the Indianapolis 500; the Pratt & Whitney ST6B-62 powered turbine car was almost a lap ahead of the second place car when a gearbox bearing failed