Orbex, the Scottish rocket company, collapsed into administration in February 2026 and was broken up and sold to three separate buyers. Its Prime launcher never flew. Portugal’s Omnidea bought the Forres factory and intellectual property on 30 September 2026, and a Scottish development agency took the Sutherland spaceport.
Why Did Orbex Run Out of Money?
Orbex failed because a fundraising round and a rescue takeover both fell through within weeks of each other in early 2026.
Orbital Express Launch Ltd, trading as Orbex, was founded in 2015 and based at Forres in Moray, Scotland. It was building Prime, a small satellite launcher, and had designed a larger vehicle called Proxima. It raised a £40.4 million Series C round in October 2022 and a Series D in 2024, and in July 2025 the European Space Agency preselected it, alongside four other European firms, for the European Launcher Challenge.
The money ran short anyway. Orbex closed its Danish rocket engine operation and its Danish subsidiary went bankrupt in January 2026. The company had been relying on an acquisition by The Exploration Company, a German space firm that signed a letter of intent in January 2026. Those talks collapsed the following month.
Orbex ceased operations on 18 February 2026, and joint administrators Chad Griffin, Geoff Rowley and Graham Smith of FRP Advisory were appointed. More than 100 jobs went. Griffin said Orbex “was at the forefront of the UK’s ambitions to create a sovereign space launch capability”. Prime had been due to attempt its first test flights later that year and was cancelled instead. The pattern of a well-funded engineering startup folding before its product shipped was not unique to 2026; the fintech Parker collapsed after raising more than $200 million.
Did the UK Government Block the Rescue Deal?
That claim has been made by the would-be buyer and by a local MP, but the UK Government has not confirmed it and it remains disputed.
A statement from The Exploration Company indicated that its planned purchase of Orbex had been blocked. The Financial Times reported, citing two unnamed sources, that the company had failed to win UK Government funding for its high-thrust rocket engine programme. Graham Leadbitter, the local MP, said responsibility for Orbex’s downfall lay with the UK Government.
No government statement has confirmed that it blocked the sale, and the reporting rests on anonymous sourcing. What is documented is that Orbex had received £26 million in UK Government loans to develop Prime, and that the government had become a shareholder through the company’s Series D round. Treat the blocking claim as an allegation that has not been substantiated on the public record.
Where Did Orbex’s Assets End Up?
Orbex was sold in pieces rather than as a going concern, with the factory, the spaceport and the test site handled as separate transactions.
| Asset | Outcome | Date |
|---|---|---|
| Forres manufacturing site, IP, brand, UK and Danish data | Acquired by Omnidea, a Portuguese space technology company, covering two of the three Forres buildings | 30 September 2026 |
| Sutherland Spaceport Ltd assets, including the site lease | Acquired by Highlands and Islands Enterprise, a Scottish development agency, from the joint liquidators | Announced 25 August 2026 |
| Kinloss test facility | Handled as a separate transaction; no completed sale reported | Unresolved as of October 2026 |
| Danish operations, including the Faxe propulsion test site | Not acquired by Omnidea; the Danish subsidiary went bankrupt | January 2026 |
| Orbex corporate entities | Remain in administration | Ongoing |
Omnidea submitted its offer in March 2026 through a competitive process run by the administrators, and the price was not disclosed. The company has said it has set aside more than €10 million to integrate the assets, build a UK team and establish a sustainable operation at Forres. Omnidea UK will be built initially around former Orbex staff who stayed at the site through the administration.
Does the Prime Rocket Still Exist?
The design survives under a new name and a new owner. Omnidea intends to develop PrimeNEO, an evolution of Orbex’s Prime, aimed at a simpler design that is easier to manufacture.
No launch date has been set. Omnidea has said it is watching market developments and will decide later in the programme where the first flight happens, with Scotland and the Azores both under consideration. The company has also been in discussions with the agencies that backed Orbex’s Prime proposal, including whether European Launcher Challenge bid funding could transfer to the new owner.
Proxima, the larger vehicle in Orbex’s European Launcher Challenge bid, was not taken on. Omnidea has said it will not continue its development, so that programme has ended with the company. This outcome is close to what happened when Caterpillar acquired Monarch Tractor’s technology out of a collapse: the engineering continued, the original company did not.
What Happened to the Public Money?
Most of the public investment in Orbex and its launch site cannot be recovered, and the state ended up buying back the spaceport it had helped prepare.
The UK Government had lent Orbex £26 million for Prime development and held equity through the Series D round. Separately, Highlands and Islands Enterprise, the UK Space Agency and the Nuclear Decommissioning Authority had together put about £9.08 million into preparing the Sutherland site before it was leased to Orbex’s subsidiary.
When that subsidiary went into liquidation in June 2026, the partly built spaceport returned to public hands through the HIE purchase in August. No figure has been published for what the UK Government recovered on its loans or its shareholding.
Is Sutherland Spaceport Finished?
Not necessarily. The site is now publicly owned and under review, and at least one launch company has expressed interest in using it.
HIE said after the acquisition that it would assess how the partly built site could be used and work with the local community and space sector. David Oxley of HIE described engaging with those groups as the next step. The site sits on land owned by the Mellness Crofters Estate, and the lease formed part of the assets HIE bought.
Local reporting indicates that Leap, a Colorado-based rocket maker, is exploring Sutherland as its first launch site outside the United States and has agreed to work with HIE on plans for regular launch operations. No binding contract has been reported, so this remains an expression of interest rather than a confirmed tenant.
Orbex’s Status in November 2026
As of 8 November 2026 Orbex no longer trades, its corporate entities remain in administration, and its technology, factory and launch site each sit with a different owner.
The company never reached orbit, and never attempted a launch. The most recent verified development is the completion of the Omnidea asset purchase on 30 September 2026. Nothing has been reported since on the Kinloss test facility, on any recovery of the government’s money, or on a firm launch date for PrimeNEO.
For the United Kingdom, the practical consequence is a thinner field. With Orbex gone, Skyrora is the remaining Scotland-based company pursuing a domestic orbital launch capability.
Frequently Asked Questions
Did Orbex Ever Launch a Rocket Into Space?
No. Prime was due to attempt its first test flights in 2026, but the programme was cancelled when the company ceased operations in February 2026.
Who Bought Orbex?
No one bought the company itself. Omnidea, a Portuguese space technology firm, bought the Forres manufacturing assets, intellectual property and brand on 30 September 2026, while Highlands and Islands Enterprise bought the Sutherland Spaceport assets in August 2026.
Why Did Orbex Go Into Administration?
Fundraising efforts failed and a planned takeover by The Exploration Company collapsed in February 2026, leaving the company without the money to continue.
How Much Public Money Went Into Orbex?
The UK Government lent Orbex £26 million for Prime and took a shareholding through its Series D round. About £9.08 million of public money had also gone into preparing the Sutherland spaceport site.
Is the Prime Rocket Still Being Built?
Omnidea plans a successor called PrimeNEO, based on the Prime design. No launch date has been announced.
