British rocket startup Orbex goes under
The prototype of Orbex’s never-launched Prime rocket,
on the launchpad in 2022
After waiting four years to get the necessary launch licenses from the United Kingdom’s Civil Aviation Authority (CAA), delays that forced it to abandon its preferred spaceport in Sutherland to go to the SaxaVord spaceport in the Shetland Islands, the British rocket startup Orbex today announced its effort to find a buyer or new financing had failed and it is going into receivership with the goal of selling off its assets.
Orbex has filed a notice of intention to appointment Administrators and will continue trading while all options for the future of the company are explored, including potential sale of all or parts of its business or assets. The notice provides short-term protection and allows the business time to secure as positive an outcome as possible for its creditors, employees and wider stakeholders.
The funding required for Orbex to remain a viable business was sought from a variety of public and private investors during its Series D funding round, which has ultimately failed. Several merger and acquisition opportunities have also been explored, with none resulting in a favourable outcome.
To repeat this company’s sad story, Orbex had hoped to do its first launch from the proposed Sutherland spaceport on the north coast of Scotland in 2022, but was blocked for four years because of red tape. First, the UK’s Civil Aviation Authority would not issue the spaceport and launch licenses. Second, local opposition delayed approvals as well. Those delays ate into the company’s resources, until it became entirely dependent on grants from the UK government (some through the European Space Agency) to keep it afloat.
By 2024 Orbex realized launching from Sutherland was impossible, and it then switched to the Saxavord spaceport in the Shetland Islands. This forced more delays because the company had no facilities there. It had already spent a fortune building everything for Sutherland.
There will be many who will blame this failure on the difficulty of rocket science, but it appears the fault almost entirely lies with the UK government and its odious regulatory regime. Neither Sutherland nor SaxaVord have been able to get anything off the ground, and it appears right now that rocket companies are going everywhere else to find launch sites. New rockets must launch and fail so that they can eventually succeed. The sense I get from the CAA is that it is treating every launch not as a test but as an operational launch that must succeed. Orbex couldn’t meet that standard.
Nor can any other rocket startup. At the moment SaxoVord has only one customer planning to launch, the German startup Rocket Factory Augsburg, but after a static fire explosion in 2024 blocked the launch nothing has happened since. I suspect the company is having problems getting new launch approvals from the CAA.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon or from any other book seller. If you want an autographed copy the price is $60 for the hardback and $45 for the paperback, plus $8 shipping for each. Go here for purchasing details. The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
The prototype of Orbex’s never-launched Prime rocket,
on the launchpad in 2022
After waiting four years to get the necessary launch licenses from the United Kingdom’s Civil Aviation Authority (CAA), delays that forced it to abandon its preferred spaceport in Sutherland to go to the SaxaVord spaceport in the Shetland Islands, the British rocket startup Orbex today announced its effort to find a buyer or new financing had failed and it is going into receivership with the goal of selling off its assets.
Orbex has filed a notice of intention to appointment Administrators and will continue trading while all options for the future of the company are explored, including potential sale of all or parts of its business or assets. The notice provides short-term protection and allows the business time to secure as positive an outcome as possible for its creditors, employees and wider stakeholders.
The funding required for Orbex to remain a viable business was sought from a variety of public and private investors during its Series D funding round, which has ultimately failed. Several merger and acquisition opportunities have also been explored, with none resulting in a favourable outcome.
To repeat this company’s sad story, Orbex had hoped to do its first launch from the proposed Sutherland spaceport on the north coast of Scotland in 2022, but was blocked for four years because of red tape. First, the UK’s Civil Aviation Authority would not issue the spaceport and launch licenses. Second, local opposition delayed approvals as well. Those delays ate into the company’s resources, until it became entirely dependent on grants from the UK government (some through the European Space Agency) to keep it afloat.
By 2024 Orbex realized launching from Sutherland was impossible, and it then switched to the Saxavord spaceport in the Shetland Islands. This forced more delays because the company had no facilities there. It had already spent a fortune building everything for Sutherland.
There will be many who will blame this failure on the difficulty of rocket science, but it appears the fault almost entirely lies with the UK government and its odious regulatory regime. Neither Sutherland nor SaxaVord have been able to get anything off the ground, and it appears right now that rocket companies are going everywhere else to find launch sites. New rockets must launch and fail so that they can eventually succeed. The sense I get from the CAA is that it is treating every launch not as a test but as an operational launch that must succeed. Orbex couldn’t meet that standard.
Nor can any other rocket startup. At the moment SaxoVord has only one customer planning to launch, the German startup Rocket Factory Augsburg, but after a static fire explosion in 2024 blocked the launch nothing has happened since. I suspect the company is having problems getting new launch approvals from the CAA.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon or from any other book seller. If you want an autographed copy the price is $60 for the hardback and $45 for the paperback, plus $8 shipping for each. Go here for purchasing details. The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News