Orbex (LON:ORBEX) Files for Administration Amid £26m Loan and Launch Delays

Orbex, the Scottish space launch start-up, filed a notice of intent to appoint administrators on February 11, 2026, following repeated delays to its Prime rocket and without securing a rescue deal with The Exploration Company. The company, which aimed to make the first UK launch from the Shetland Islands, is at risk of collapsing, putting about 150 jobs under threat and jeopardizing Britain’s space ambitions. The UK government approved £20m in taxpayer loans in January 2025, with an additional £6m in July, part of efforts to secure ESA funding. Orbex previously raised over £100m and targeted more than £120m for its launcher but has struggled to raise further private investment after the government loans. CEO Phil Chambers said the company is capital-intensive and development-cycle sensitive, emphasizing the criticality of bridging the “scale-up” funding gap. The collapse could extinguish hopes of a European alternative to SpaceX and impact other UK-based launch efforts.