Orbex, the only orbital rocket company developed entirely in the UK, is in talks to sell the business to the (Franco-Italian-German) The Exploration Company.
On the afternoon of 21 January, the two companies confirmed that they had signed a letter of intent and started negotiations, although the details remain confidential.
The potential sale of Orbex, based in Forres, Scotland, raises more than one question about the UK’s space strategy: in early 2025, the government had injected £20 million into the company, with the aim of supporting the development of the small Prime orbital launcher until it took off from the SaxaVord spaceport on the northernmost of the Shetland Islands. Peter Kyle, then Secretary of State for Science, Innovation and Technology, had highlighted how the investment testified to the UK’s determination to be ‘part of the new space revolution in Europe’.
Despite the capital injected, however, Orbex repeatedly delayed launch plans. Thus, according to the Northern Times, last November the government reportedly backtracked on plans to provide an additional £100 million. In the same weeks, Orbex had been selected for the European Space Agency’s (the ESA) Launcher Challenge, a programme that promises to fund up to EUR 169 million for companies capable of flying an orbital rocket by 2027.
Its acquisition by The Exploration Company could change everything: with headquarters in Munich and operations in Bordeaux and Turin, the company is among Europe’s fastest-growing space start-ups. Founded in 2021 by Hélène Huby, a former Airbus manager, it aims to build Europe’s first reusable capsule for cargo transports to the International Space Station and low orbit, an ESA programme – called Leo Cargo Return Service – in which Italy’s Thales Alenia Space is also in the running.