Orbex
Orbex ceased operations in February 2026: after a planned acquisition by The Exploration Company collapsed and its Danish engine subsidiary entered bankruptcy, the company filed to appoint administrators on 11 February 2026.
- Founded
- 2015
- Headquarters
- Forres, United Kingdom
- Ownership
- Private
- Employees
- 150as of 2026
Quick Facts
About Orbex
Orbex ceased operations in February 2026: after a planned acquisition by The Exploration Company collapsed and its Danish engine subsidiary entered bankruptcy, the company filed to appoint administrators on 11 February 2026. Orbex (Orbital Express Launch Ltd.) was a United Kingdom-based aerospace company headquartered in Forres, Moray, Scotland, with subsidiaries in Denmark and Germany, developing the Prime and Proxima orbital launch vehicles. Orbex is the only UK-owned launch services company in the UK.
In January 2025, the UK Government made its first-ever direct investment in a space launch company, investing £20 million and becoming a shareholder in Orbex as part of its £23 million Series D fundraising. The Prime rocket, a 19-meter two-stage vehicle powered by renewable bio-propane fuel, is designed to transport small satellites into Low Earth Orbit with significantly reduced carbon emissions compared to similarly sized rockets. Prime will launch from SaxaVord Spaceport in Shetland.
Orbex expects to launch its first Prime rocket toward the end of 2025. In July 2025, ESA preselected Orbex along with four other European companies for its European Launcher Challenge with funding up to €169 million per company.
Products and product lines
| Product | Line | Note |
|---|---|---|
| Prime | Orbital launch vehicle | 19-meter, bio-propane-fueled small-lift rocket intended to launch from SaxaVord Spaceport; its first flight, planned for later in 2026, is unlikely to proceed without a capital injection following the company's insolvency. |
| Proxima | Launch vehicle (in development) | Larger follow-on launch vehicle in early development alongside Prime; also unlikely to proceed without new funding after Orbex's insolvency filing. |
| Danish engine subsidiary | Propulsion R&D facility (closed) | Orbex's Danish rocket-engine subsidiary went bankrupt in January 2026, with about 90 staff laid off shortly before the parent company's own insolvency filing. |
| Series D funding round | Institutional/venture funding | GBP 16.7 million (about $20.7 million) raised in April 2024 from Scottish National Investment Bank, Octopus Ventures, BGF, Heartcore, EIFO and others to accelerate Prime toward launch readiness. |
| UK Government equity investment | Institutional funding | In January 2025 the UK Government invested GBP 20 million as part of a GBP 23 million Series D extension, its first direct investment in a launch company (as recorded in the existing profile). |
| European Launcher Challenge preselection | Institutional funding/contract | ESA preselected Orbex on 7 July 2025 as one of five European Launcher Challenge candidates, with funding of up to EUR 169 million per company — an opportunity now in doubt given the company's collapse. |
Timeline
- 2015 The company is founded as Moonspike Ltd. by Chris Larmour and Kristian von Bengtson, initially to crowdfund a private Moon mission. [source]
- 2024 Orbex closes a GBP 16.7 million (about $20.7 million) funding round on 18 April, led by Scottish National Investment Bank and Octopus Ventures, to accelerate Prime's development. [source]
- 2024 Orbex announces in November that its first Prime launch will move from its own planned Sutherland spaceport to SaxaVord Spaceport in Shetland. [source]
- 2025 ESA preselects Orbex on 7 July as one of five European Launcher Challenge candidates (with Isar Aerospace, Rocket Factory Augsburg, PLD Space and MaiaSpace), each eligible for up to EUR 169 million. [source]
- 2025 The Exploration Company enters acquisition talks with Orbex in December. [source]
- 2026 Orbex and The Exploration Company sign a letter of intent for the acquisition on 21 January; around 90 staff are laid off after Orbex's Danish rocket-engine subsidiary goes bankrupt the same month. [source]
- 2026 The Exploration Company's planned acquisition of Orbex collapses; Orbex files a notice of intention to appoint administrators on 11 February, ceasing operations with about 150 UK staff at risk. CEO Phillip Chambers says: "Disappointing doesn't come close to describing how we feel about this moment." [source]
Phillip Chambers (CEO)
Team
Signals
- Verification
- Verified 2026-09-09
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Frequently asked about Orbex
Quick answers to the questions readers most often search for.
- When was Orbex founded?
- Orbex was founded in 2015 in United Kingdom.
- Where is Orbex headquartered?
- Orbex is headquartered in Forres, United Kingdom.
- What does Orbex do?
- Orbex ceased operations in February 2026: after a planned acquisition by The Exploration Company collapsed and its Danish engine subsidiary entered bankruptcy, the company filed to appoint administrators on 11 February 2026. Orbex (Orbital Express Launch Ltd.) was a United Kingdom-based aerospace company headquartered …
- Is Orbex still operating?
- Orbex is no longer operating. Status: defunct.
- What sector does Orbex operate in?
- Orbex works in launch services.
Sources
The structured fields on this page (founding year, location, sector, status, listing) and the profile text are drawn from the sources below. How profiles are drafted and checked is described in our methodology.
- Official website (orbex.space)
- Company LinkedIn page
- Wikidata / Wikipedia · retrieved 2026-09-05
- TechCrunch: Orbex's new funding may accelerate its Prime microlauncher into orbit (18 Apr 2024) · retrieved 2026-09-09
- European Spaceflight: ESA shortlists five companies for European Launcher Challenge (7 Jul 2025) · retrieved 2026-09-09
- European Spaceflight: Orbex fails after planned purchase falls through (11 Feb 2026) · retrieved 2026-09-09
Data Accuracy Notice: Information about Orbex is compiled from publicly available sources including company websites, press releases, regulatory filings, and industry reports. Data is reviewed periodically but may not reflect the most recent developments.