Orbex, a UK-based small launch developer, has received a significant boost from Scotland’s national bank and other investors as it prepares for its inaugural orbital launch. Founded in 2015, Orbex is part of a select group of companies striving to develop the next generation of European launch vehicles. This endeavor has become increasingly crucial due to the retirement of the Ariane 5 and the significant delays in the development of the Ariane 6 and Vega C rockets. Consequently, Europe currently lacks native launch capacity.
However, Orbex sees this absence as an opportunity rather than a setback. The company is focused on creating a microlauncher named Prime, which is a two-stage vehicle measuring just 19 meters tall. Despite its smaller size compared to Rocket Lab’s Electron, which is a meter shorter but can carry up to 300 kilograms, Orbex believes that Prime’s compact stature is advantageous. Orbex CEO Philip Chambers highlighted the positive market conditions for their product, citing the exponential growth of satellites being launched into Low Earth Orbit (LEO) and the high demand for launch services.
According to Chambers, Europe is currently unable to launch even a single kilogram into space, and there is a pent-up demand for sovereign launch capabilities. Orbex aims to provide European customers with freedom of action and the ability to control their own launches by launching European payloads from European soil. This strategy aligns with the company’s vision to meet the increasing demand for satellite launches while filling the void left by Europe’s outdated launch vehicles.
To facilitate its mission, Orbex will launch Prime from a new spaceport under construction in Sutherland, northern Scotland. The UK’s national space agency is providing funding for this project. Additionally, Orbex plans to incorporate a patented recovery technology called REFLIGHT into its launch system. This technology involves an interstage structure situated between the rocket stages. After the booster detaches, four ‘petals’ will fold out, creating enough drag, along with a parachute, to enable a soft ocean splashdown.
While Prime is Orbex’s first priority, the company is open to the possibility of developing a larger vehicle in the future. Chambers explained that the laws of physics dictate that cost per kilogram can be reduced by using larger vehicles, making it sensible for Orbex to consider expanding its offerings.
Orbex has secured £16.7 million ($20.7 million) in fresh funding for its Series D round, with contributions from Octopus Ventures, BGF, Heartcore, EIFO, and other investors. This funding follows a successful £40.4 million ($50 million) Series C round in October 2022. While the new capital will facilitate the development and scalability of Prime, a specific launch window has yet to be announced.
The support from investors and the UK’s national space agency demonstrates the confidence in Orbex’s capabilities and the potential of its microlauncher technology. With a focus on meeting the growing demand for satellite launches in Europe, Orbex is poised to play a significant role in the future of space exploration and commerce.