Moray-based rocket firm Orbex, a key player in the UK’s burgeoning space industry, is on the verge of appointing administrators amid financial difficulties. Its team of nearly 160 talented, experienced people run two shifts, five days a week. Combined they have made great progress in boosting the aerospace industry’s presence in Scotland’s Highlands. Recent actions imperil its successes and may rip apart the fabric of this great city.
Orbex sits at the forefront of the UK’s growing space ambitions, ready to launch. Their pioneering efforts carrying out launches using the Prime rocket has caught the media’s attention and will be launching later this year from SaxaVord Spaceport in Shetland. This small and low-cost rocket is intended to become a workhorse commercial launch vehicle for small satellites. It is a remarkable achievement for the country and its ongoing pursuit to advance its growing space capabilities.
To date, Orbex has achieved some remarkable milestones and developed hundreds of highly skilled jobs in Scotland. The company’s immediate future is now completely unclear. Those talks have since shifted to selling the business to international aerospace company The Exploration Company (TEC). So far, these negotiations have not resulted in a clear agreement.
The company has raised over a billion dollars from the usual suspects. This has comprised hundreds of millions of pounds from Highlands and Islands Enterprise (HIE), private investors, European venture capital and support from the UK government. This funding support has proven invaluable in enabling Orbex’s development and operations in an incredibly competitive sector of the space industry.
Phil Chambers, a business development representative at Orbex, told CNBC that he was deeply disappointed by the news. He stated,
“Disappointing doesn’t come close to describing how we feel about this moment.”
He warned what has been gained could be lost, reminding us all that,
“What is most disappointing is that we have brought hundreds of skilled jobs to Scotland; we have been at the vanguard of the UK’s space ambitions; we have led the way in driving good news about the UK’s space sector.”
A spokesperson for Highlands and Islands Enterprise—the development agency that supported Orbex’s launch with local grants—said it was bitterly disappointed. A representative stated,
“Yet all of this progress now risks being undone – and it is real people who will feel the consequences.”
They committed to working with external partners under the Pace initiative. This program, called Partnership Action for Continued Employment, seeks to help those at risk of imminent layoff.
“This situation will be a major blow to Orbex, its employees and their families.”
They also assured that they would work with partners through the Pace (Partnership Action for Continued Employment) initiative to support those facing potential redundancy.
