Orbex enters administration after funding efforts falter

Orbital Express Launch Ltd, the Scottish space launch developer known as Orbex, has entered administration after failing to secure fresh investment to continue development of its small satellite launch vehicle, marking a setback for Britain’s ambitions to establish a sovereign launch capability.

Chad Griffin, Geoff Rowley and Graham Smith of FRP Advisory were appointed joint administrators on 19 February 2026. The appointment followed the filing of a notice of intention to appoint administrators and the cessation of trading shortly before the insolvency process commenced.

Founded in 2015, Orbex had been developing “Prime,” a low carbon micro launch vehicle designed to carry small satellites into low Earth orbit from UK soil. The company operated primarily from Forres in Moray, Scotland, with additional operations in Denmark.

Orbex had raised approximately £138.5 million since inception, including £33.3 million in grants and £105.1 million in equity investment. Public sector backing formed a significant component of its capital base, with total public investment reported at £76.7 million, including £26 million from the UK Government in 2025 and £29 million from the Scottish National Investment Bank.

Despite that support, the company’s most recent Series D funding round did not complete, and parallel merger and acquisition discussions failed to yield a transaction. Administrators indicated that the capital intensive nature of launch vehicle development, combined with extended lead times to revenue generation, left the business exposed once additional funding could not be secured.

Orbex employed around 163 people in the UK, the majority based at its Forres site. Most roles are expected to be made redundant as part of the administration process. The joint administrators said they are engaging with employees to provide information on redundancy and statutory entitlements.

FRP has begun marketing the company’s assets, including its proprietary rocket technology, intellectual property and infrastructure. According to the administrators, more than 20 interested parties, including other rocket developers, have already been contacted as part of a sales process aimed at preserving value and potentially retaining elements of launch capability in Scotland.