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financialseismic2026-02-11

Orbex enters UK administration after acquisition and funding talks collapse

Orbex filed for UK administration in February after Series D funding talks and an acquisition by The Exploration Company both fell through.

Orbex, developer of the UK's Prime small launch vehicle, filed a notice of intention to appoint administrators on February 11, 2026, after failing to close a Series D funding round or complete a previously announced acquisition by French company The Exploration Company, per SpaceNews, Via Satellite, and European Spaceflight. Orbex, a winner of ESA's European Launcher Challenge that had received EUR34.9 million ($41.5 million) from the program, had already shut down its Danish rocket-engine subsidiary and laid off about 90 employees in January; administration puts roughly 150 further UK jobs at risk. CEO Phil Chambers said: "Disappointing doesn't come close to describing how we feel about this moment."

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