Orbex Space is a UK-based, private launch services company focused on serving the small satellite industry. They are developing the Orbex Prime, a micro-launch vehicle designed for low-Earth orbit satellite deployment, utilizing innovative and sustainable bio-propane fuel. While initially planning to launch from Sutherland Spaceport, Orbex has shifted its launch operations to SaxaVord Spaceport. Orbex's key partners and customers include the UK Space Agency, the European Space Agency, and companies like Surrey Satellite Technology Ltd and Astrocast.
All verified mentions of this organization in source documents.
Orbex’s 11 February statement made no reference to The Exploration Company or to why the acquisition had fallen through.
The Exploration Company signed a letter of intent to purchase Orbex on 21 January.
Orbex paused construction of Sutherland Spaceport to free up resources for development of its Proxima medium-lift rocket.
Skyrora proposed that the established operator could invest up to £10 million in an Orbex asset acquisition, subject to discussions with appointed administrators and completion of due diligence and legal processes.
Orbex pursued a sale because its Series D funding round failed to materialize at the scale the company had hoped.
A spokesperson for The Exploration Company linked the failure of its planned acquisition of Orbex to the UK government’s decision not to approve the transaction.
Skyrora intends to explore the purchase of select Orbex assets, including Sutherland Spaceport.
The planned Orbex acquisition could potentially involve some of the more than 150 Orbex employees who are now or soon to be out of work.
Skyrora positioned the acquisition of select Orbex assets as a measure to preserve UK space capability and keep UK-developed technology and IP under UK ownership.
The UK government invested £20 million (€23 million) in Orbex in January 2025 to support an inaugural launch.
Skyrora expressed interest in investing up to £10 million (€11.5 million) to buy select Orbex assets.
Orbex experienced failed fundraising and M&A opportunities prior to appointing administrators.
Orbex appointed administrators as a step toward closing the business due to insolvency and reportedly has debts as high as £49 million (€56.2 million).
Skyrora expressed interest in investing up to £10 million (€11.5 million) to acquire select Orbex assets, potentially including the Sutherland Spaceport in northern Scotland.
Orbex appointed administrators as a first step toward closing the business due to insolvency.
Skyrora's potential acquisition of Orbex assets could include the Sutherland Spaceport on Scotland’s northern coast.
Orbex had debts reportedly as high as £49 million (€56.2 million).
Orbex's first test launches of its microlauncher Prime were scheduled to take place later in the year the announcement was made.
Several merger and acquisition opportunities for Orbex were explored but did not result in a transaction.
Skyrora's potential investment to acquire select Orbex assets includes the Sutherland Spaceport and aims to keep the technology and intellectual property under U.K. ownership.