Rocket company exploring purchase of select Orbex assets

Rocket company Skyrora has said it is exploring purchasing select assets of a space company which is appointing administrators, including its Sutherland Spaceport scheme.

Orbex announced on Wednesday it has filed a notice of intention to appoint administrators after failing to secure the funding it needed.

Skyrora said it is exploring an asset acquisition which would see the investment of up to £10 million.

It said securing select Orbex assets would ensure technology developed in the UK remains under UK ownership and help protect national critical infrastructure.

Skyrora, which has a factory in Cumbernauld, North Lanarkshire, was granted a launch licence for its suborbital rocket Skylark last year.

Dr Jack-James Marlow, chief operations officer at Skyrora, said: “Skyrora is committed to delivering sovereign launch capability for the UK; providing reliable, independent access to space is crucial to the UK’s strategic interests.

“Launch will not only unlock commercial activity for companies that need to access space and help achieve the Government’s objectives for becoming a global player in the space sector, but it is also a strategic defence consideration.

“As the only UK company with a domestic launch licence and both manufacturing and testing capabilities, Skyrora is best placed to take over Orbex’s assets and is proud to be leading launch activity from the UK.”

Skyrora said any potential asset acquisition would be subject to discussions with the appointed administrators and completion of the necessary due diligence and legal processes.

Orbex, an orbital launch services company and space rocket manufacturer based in Forres, Moray, said it will continue trading while all options for the future of the company are explored, including the potential sale of all or parts of its business or assets.

The company said it had been “on the cusp” of the first test launches of its microlauncher Prime later this year.

Orbex employs 163 people – 154 based in Forres and the rest working remotely.

In December 2024, it announced it had paused plans to build a spaceport in Sutherland but would retain its lease to build and operate there.