French startup The Exploration Company negotiating purchase of UK rocket startup Orbex

The prototype of Orbex’s never-launched Prime rocket,
on the launchpad in 2022
In what appears to be a direct consequence of British red tape blocking Orbex from launching in the past four years, it is now in negotiations to sell its assets to the French startup The Exploration Company.
On 21 January, Orbex published a brief press release stating that a letter of intent had been signed and that negotiations had begun. The company added that all details about the transaction remain confidential at this stage. A statement from Orbex CEO Phil Chambers suggests that the company’s financial position factored into its decision to pursue a buyer. “Our Series D fundraising could have led us in many directions,” said Chambers. “We believe this opportunity plays to the strengths of both businesses, and we look forward to sharing more when the time is right.”
Let me translate: In 2022 Orbex had set up a factory close to the proposed Sutherland spaceport on the north coast of Scotland, had signed a 50 year lease with that facility to launch its Prime rocket there, had built a launch platform and tested a prototype of the rocket, and was poised to do its first launch. All it needed was license approvals from the United Kingdom’s Civil Aviation Authority (CAA).
And then it waited, and waited, and waited, and waited. By 2024 it gave up on Sutherland, because the authorities (local and national) kept rejecting its spaceport license for environmental and political reasons. It switched its launch site to the SaxaVord spaceport on the Shetland Islands, pushing back that first launch to 2026. Along the way the UK gave it a $25 million grant, likely to keep the company above water because the UK was blocking its ability to launch.
All for naught. It is very clear Orbex has run out of cash waiting, and is now looking to salvage its work by selling everything to the French company, which so far has focused on building a cargo capsule to supply the upcoming commercial space stations.
If the sale goes through, do not be surprised if Orbex’s assets exit the UK entirely. And at that point, the CAA’s red tape can be given credit for destroying a second rocket company, following Virgin Orbit.

The prototype of Orbex’s never-launched Prime rocket,
on the launchpad in 2022
In what appears to be a direct consequence of British red tape blocking Orbex from launching in the past four years, it is now in negotiations to sell its assets to the French startup The Exploration Company.
On 21 January, Orbex published a brief press release stating that a letter of intent had been signed and that negotiations had begun. The company added that all details about the transaction remain confidential at this stage. A statement from Orbex CEO Phil Chambers suggests that the company’s financial position factored into its decision to pursue a buyer. “Our Series D fundraising could have led us in many directions,” said Chambers. “We believe this opportunity plays to the strengths of both businesses, and we look forward to sharing more when the time is right.”
Let me translate: In 2022 Orbex had set up a factory close to the proposed Sutherland spaceport on the north coast of Scotland, had signed a 50 year lease with that facility to launch its Prime rocket there, had built a launch platform and tested a prototype of the rocket, and was poised to do its first launch. All it needed was license approvals from the United Kingdom’s Civil Aviation Authority (CAA).
And then it waited, and waited, and waited, and waited. By 2024 it gave up on Sutherland, because the authorities (local and national) kept rejecting its spaceport license for environmental and political reasons. It switched its launch site to the SaxaVord spaceport on the Shetland Islands, pushing back that first launch to 2026. Along the way the UK gave it a $25 million grant, likely to keep the company above water because the UK was blocking its ability to launch.
All for naught. It is very clear Orbex has run out of cash waiting, and is now looking to salvage its work by selling everything to the French company, which so far has focused on building a cargo capsule to supply the upcoming commercial space stations.
If the sale goes through, do not be surprised if Orbex’s assets exit the UK entirely. And at that point, the CAA’s red tape can be given credit for destroying a second rocket company, following Virgin Orbit.
















