The appointment follows the filing of a notice of intention to appoint administrators on 11 February 2026.

Orbex, which had operations in Forres, Scotland, and Denmark, entered administration following unsuccessful attempts to secure new investment or a strategic acquirer.

The joint administrators will now explore all options for the business, including a potential sale of its assets or technology. FRP says it is already in active discussions with more than 20 interested parties, which include other rocket developers.

Founded in 2015, Orbex was developing Prime – a low-carbon micro-launch vehicle designed to place small satellites into low Earth orbit. The company had secured £138.5 million in funding to date, comprising £33.3m in grants and £105.1m in equity. Public investment totalled £76.7m, including £26m from the UK government in 2025 and £29m from the Scottish National Investment Bank. The company had also received investment from a range of UK and European venture capital funds and strategic corporate investors.

The administration follows the unsuccessful conclusion of a Series D funding round and parallel merger and acquisition discussions. Orbex was exposed to the capital-intensive nature of launch vehicle development and long lead times to revenue so these outcomes left the business without the capital required to continue its development programme.

Orbex employed around 163 people in the UK, the majority of whom were based at the company’s Forres site in Moray. The business ceased trading shortly prior to the appointment. The joint administrators will be engaging with all employees to provide information and support, and are assessing options for the Group’s unique assets.

Chad Griffin, joint administrator and partner at FRP, said:“Orbex was at the forefront of the UK’s ambitions to create a sovereign space launch capability, and has made significant technological progress in recent years.

“Our focus now is on supporting employees, and engaging with potential interested parties to preserve value in the business assets and seek to retain space launch operations in Forres given the investments already made.

“We are already in contact with more than 20 potential suitors and encourage any further approaches from prospective buyers or investors to come forward.”