UK launch vehicle developer Orbex has filed a notice of intention to appoint administrators after failing to secure sufficient funding to continue operations.
The Scotland-based company, which has been developing the Prime microlauncher for small satellite missions, said its Series D funding round did not achieve the required capital. Attempts to secure additional private and public investment, as well as potential merger and acquisition agreements, were unsuccessful.
Filing a notice of intention to appoint administrators provides short-term legal protection while options are explored, including a potential sale of the business or its assets. Orbex said it will continue trading during this period.
Orbex has positioned Prime as a low-carbon microlauncher designed to support sovereign UK and European launch capability. The company had been preparing for initial test flights later this year and had previously announced commercial launch agreements with satellite customers.
The setback highlights the capital intensity and long development timelines associated with orbital launch vehicles, particularly in the small launch segment where companies must bridge the funding gap between technology development and revenue-generating flight operations.
Orbex has been a central player in Scotland’s emerging space launch ecosystem, with operations linked to Space Hub Sutherland and manufacturing facilities in Forres. The company has also received public funding support in earlier stages of development.
Chief Executive Phil Chambers said the company had worked to secure bridging capital to reach first flight, describing the situation as disappointing given the proximity to planned test launches.
The move raises further questions about the sustainability of Europe’s small launch sector, which has faced increasing competition, high development costs and investor caution following mixed commercial results across the global launch market.
Administrators, once appointed, will assess the company’s financial position and determine whether a restructuring, sale or wind-down is the most viable path forward.
Image credit: Orbex
