Scotland’s leading home-grown rocket builder has filed for administration, putting around 160 jobs at immediate risk and jolting Britain’s launch ambitions.
Moray-based Orbex confirmed it has filed a notice of intention to appoint administrators after takeover talks and fundraising efforts collapsed. The move gives the company short-term protection from creditors while it searches for buyers or investors.
Jobs Face Immediate Risk
Managers told staff on Wednesday that the company cannot continue without new capital. About 150 UK-based roles now face redundancy. Earlier this year, the firm shut its Danish engine subsidiary, which then entered bankruptcy.
Orbex had positioned itself at the centre of Scotland’s growing space sector. It created hundreds of skilled roles in Forres and secured public backing to build a sovereign launch capability.
Chief executive Phil Chambers said: “Disappointing doesn’t come close to describing how we feel about this moment.” He added that the team had worked towards first test flights later this year. He described rocket development as capital-intensive and warned that scale-up phases often expose funding gaps.
Rescue Deal Unravels
European space logistics firm The Exploration Company had planned to acquire Orbex. The two sides signed a letter of intent in January after opening talks in late 2025. Negotiations failed before completion.
At the same time, Orbex failed to secure its Series D funding round. Without that investment, it could not continue developing its Prime rocket or its larger follow-on vehicle, Proxima.
The company has also missed the deadline to file its 2024 financial accounts. Reports suggest it carries significant debt after years of development spending.
Delays Strain UK Launch Ambitions
Orbex had aimed to carry out the first test flights of Prime in 2026. The UK Government backed the firm as part of its push to launch commercial satellites from British soil.
Repeated technical and schedule delays increased costs and widened the funding gap. Last year, executives signalled that the company would need tens of millions of pounds to complete development plans through 2030.
SaxaVord Continues Operations
Orbex had planned to launch from SaxaVord Spaceport in Shetland. Spaceport chief executive Scott Hammond said the collapse would have little operational impact. He stressed that SaxaVord works with multiple clients and had not begun building dedicated infrastructure for Orbex.
“SaxaVord is very much ready for launch,” he said, while offering support to affected staff.
For Orbex employees, uncertainty now dominates. For the UK’s small-launch strategy, the setback is stark and immediate.
