Orbex Secures $25 Million from UK Government to Fuel Domestic Space Launch Ambitions

The UK government is investing GBP20 million ($24.9 million) in Orbex, a UK-based spaceflight company, as part of its Series D funding round.

This investment marks the government's first direct investment in establishing a robust domestic space launch industry, with Orbex playing a key role in achieving this goal, company officials said.

Orbex is developing a 19-meter, two-stage rocket named Prime, designed to launch small satellites into Low Earth Orbit.  The company plans to conduct its initial launch operations from the SaxaVord Spaceport in Shetland, with the first Prime rocket launch anticipated by the end of 2025.

This funding will accelerate the development and testing of the Prime launch vehicle, which is notable for its use of bio-propane. This renewable biofuel significantly reduces carbon emissions compared to traditional rocket fuels.  Orbex is the only UK-owned launch services company currently developing both small and medium-sized space rockets in the UK.

With an advertised payload capacity of 180 Kg to LEO, the Orbex Prime is a very light launch vehicle. There is a niche place in the market for very light launch vehicles, Rocket Lab's Electron (300 Kg to LEO), as an example, has a healthy backlog.

In addition to the UK government's investment, Orbex has secured funding from the Export & Investment Fund of Denmark (EIFO), Octopus Ventures, and private investor Sohaib Abbasi, bringing the total raised for Series D GBP23 million ($28.6 million).  This investment highlights the growing confidence in Orbex's capabilities and its potential to contribute to the UK's ambition to become a leading player in the global space launch market.