Posted: Sun, Feb 15, 2026, 10:40 AM ET (1540 GMT)
U.K.-based small launch vehicle developer Orbex is preparing for bankruptcy. The company said Wednesday it filed a notice of intention to appoint administrators, a process in the U.K. that’s similar to declaring bankruptcy, after fundraising, merger and acquisition efforts concluded without success. That included an announcement last month that it was exploring a potential acquisition by The Exploration Company. Orbex has been working on Prime, a vehicle designed to place about 200 kilograms into orbit, but the vehicle’s first launch has been delayed by several years. Orbex was one of five preselected companies in ESA’s European Launcher Challenge, but the company received only a fraction of the funding the other four firms received last November.

Related Links:

•  SpaceNews article
•  BBC article
•  The Guardian article
•  European Spaceflight article
•  Orbex press release