Orbex administrators in talks with 20 potential buyers – Daily Business

More than 20 companies have expressed interest in Orbex, the Scottish rocket launch company, which has appointed administrators after failing to raise finance or find a buyer.

It had around 163 staff in the UK, the majority of whom were based at the company’s site in Forres, Moray.

The business ceased trading ahead of the appointment of Chad Griffin, Geoff Rowley and Graham Smith of FRP Advisory as joint Administrators of Orbital Express Launch.

Orbex also had operations Denmark which were already in a bankruptcy process with the loss of 90 jobs.

FRP is looking at a potential sale of its assets or technology and said it is already in active discussions with more than 20 interested parties, which include other rocket developers. 

Mr Griffin said: “Orbex was at the forefront of the UK’s ambitions to create a sovereign space launch capability, and has made significant technological progress in recent years.

“Our focus now is on supporting employees, and engaging with potential interested parties to preserve value in the business assets and seek to retain space launch operations in Forres given the investments already made.

“We are already in contact with more than 20 potential suitors and encourage any further approaches from prospective buyers or investors to come forward.”

Founded in 2015, Orbex was developing Prime — a low-carbon micro-launch vehicle designed to place small satellites into low Earth orbit.

The company had secured £138.5 million in funding to date, comprising £33.3m in grants and £105.1m in equity.

Public investment totalled £76.7m, including £26m from the UK Government in 2025 and £29m from the Scottish National Investment Bank. It is unlikely that these investments will be recovered.

The company had also received investment from a range of UK and European venture capital funds and strategic corporate investors.

The administration follows the unsuccessful conclusion of a Series D funding round and takeover discussions with The Exploration Company based in Munich.

Orbex was exposed to the capital-intensive nature of launch vehicle development and long lead times to revenue so these outcomes left the business without the capital required to continue its development programme.