The UK spaceflight company Orbex has received £16.7m from six backers in an update to its Series C funding round. With pre-launch testing underway, the funding will help Orbex ramp up the development of Prime, its 19-metre long, two-stage rocket designed to transport small satellites into Low Earth Orbit. The aim is to ensure full readiness and scalability for its launch period.

Orbex now has 2 active patents in a number of European countries and the United States covering various parts of its rocket technology. It is powered by a renewable bio-fuel, which allows the rocket to reduce carbon emissions significantly compared to other similarly sized rockets being developed elsewhere around the world. Investors involved in the deal include £10.5m follow-on investment from the Scottish National Investment Bank, venture capital firms Octopus Ventures, BGF, Heartcore, the Export & Investment Fund of Denmark (EIFO) and a number of corporate and angel investors.

The funding injection comes after scale-up expert Phillip Chambers and former Director General of the Spanish Space Agency Miguel Belló Mora joined to form a new leadership team in January. Chambers himself became an investor in the firm’s £40m Series C funding round in 2022.

Phillip Chambers, CEO of Orbex, said: “Orbex is one of only two space rocket manufacturers in the UK, and the only one to also operate its own spaceport. Our technology is pivotal in making the UK a hub for European orbital launch, and we are entering a critical phase of development. We are building a sustainable, cost-effective launch vehicle to compete with the best of Europe’s spaceflight manufacturers. This additional funding will support our goal to push on into an operational launch phase, and scale our business when the time comes.”

Nicola Douglas, Executive Director of Innovation at the Scottish National Investment Bank, said: “The Bank recognises the unique potential the space industry offers for Scotland. We are perfectly placed to leverage our geographical location, vibrant business and innovation landscape, and our skilled workers to be one of the most significant global players in this growing industry.

“At the Bank, we have been particularly drawn to Orbex’s commitment to sustainability through its use of renewable biofuel and launch technology, all working towards the goal of carbon neutrality. Its approach perfectly aligns to our net zero and innovation missions. This follow-on investment comes at an exciting time as Orbex expands its manufacturing and looks to complete its Sutherland Spaceport this year.”

Paddy Graham, Head of Scotland at BGF, said: “Orbex has made significant progress since we first invested, becoming one of the leading players in the UK space sector. We are pleased to build on our support for the business and will continue to work closely with the company’s renewed leadership team as they work towards the initial launch phase.”

Erik Balck Sørensen, CIO at Export & Investment Fund of Denmark (EIFO), said: “EIFO is thrilled to continue giving support to Orbex as it is one of the few companies with Danish presence that fulfils the strategic focus EIFO has within the defence, green transition and commercialization of research. Whereas the EU currently relies on the US or other foreign countries, Orbex can in the near future give the EU space launch capabilities again. The Orbex technology platform provides a significant reduction in CO2 equivalent emissions through innovative combustion design and use of green fuels. Furthermore the addition of Phillip Chambers as CEO and Miguel Bello as Executive Chairman to bolster the current stellar R&D and engineering team is a constellation EIFO as an organization want to support.“

Simon King, Partner at Octopus Ventures, said: “We’re delighted to continue supporting Orbex on their journey as Europe’s leading private launch services company. We’ve been incredibly impressed with the new leadership team and wider team’s progress, and we’re particularly excited about the progress towards first launch. At Octopus Ventures we invest in the people, ideas and industries that will change the world ─ Orbex is a fantastic example of a business doing exactly that.”

With testing and launch now in its sights, Orbex will soon enter a new phase of growth with a Series D funding round, which will aim to secure its long-term prospects as the leading orbital launch business in Europe.

Source: Orbex

Orbex has successfully patented its REFLIGHT reusable rocket technology following patent approval in several European markets, based on the patent grant by the European Patent Office, as well as in the United States.

The technology is uniquely suited to micro-launcher rockets like Orbex’s Prime rocket since it enables recovery of the launch vehicle by repurposing existing structural features, while adding very little additional weight to the vehicle. It thereby enables reusability with very limited overall performance penalty and no additional rocket propulsion emissions in the upper atmosphere during re-entry. This should be compared to other reusable launch systems using powered descent (rocket engine firings) to slow down the vehicle during re-entry and landing.

Orbex’s Prime rocket will consist of two stages, and the REFLIGHT system repurposes the interstage structure located between the stages. After Stage 1 detaches from Stage 2, the interstage on top of Stage 1 reconfigures into four ‘petals’ which fold out and create drag forces that passively reorients and slows the spent rocket stage’s descent to Earth.

In combination with a lightweight parachute the drag created by the petals will enable Stage 1’s to perform a low velocity landing at sea. Orbex will then recover the floating Stage 1 and return it to its factory in Forres for refurbishment and/or recycling. During descent and recovery, there will be no debris left in orbit, on land or in sea, creating a ‘circular rocket economy’.

Jonas Bjarnø, CTO at Orbex, said: “At each step in the construction of Prime, we are looking at how to improve the launch system efficiency and sustainability. Our REFLIGHT technology is a critical innovation in overall efficiency of the system, and the slower return to Earth reduces risk of significant aerothermal damage, enabling refurbishment and re-use of parts. This is really critical to our vision for a more sustainable, circular rocket economy.”

The news comes shortly after the company also announced it had been granted a patent across more than a dozen countries to protect its innovative coaxial tanking technology.

Source: Orbex

Forres, UK, 8th January 2024 - UK-based orbital launch services company, Orbex, has today announced the appointment of two tech and space sector stalwarts as its new CEO and Executive Chair. Scale-up expert Phillip Chambers joins as Orbex’s new Chief Executive Officer and Miguel Belló Mora leaves his post as Director General of the Spanish Space Agency to join as Executive Chair.

Chambers joins with more than two decades of experience in building innovative companies, scaling technology platforms for some of Europe’s most successful start-ups, including Gumtree, Peakon (acquired by Workday), and Qype (acquired by Yelp). Chambers has already been part of the Orbex journey, becoming an investor in the firm’s Series C funding round during which the company raised £40.4 million.

Belló Mora most recently held the role of Director General of the Spanish Space Agency and Commissioner for the Aerospace Strategic Project for Economic Recovery and Transformation (PERTE), where he oversaw a €4.5 billion programme for the Spanish aerospace sector. This followed an illustrious career in leadership positions including Founder and CEO of DEIMOS space group and CEO of the Atlantic International Research Centre.

The pair join at a critical time for the UK space sector, which is rapidly developing the necessary capabilities to launch satellites into orbit for the first time. They will work together to realise Orbex’s position as the leading orbital launch company in Europe. Orbex has already confirmed six commercial satellite launch contracts and is developing one of the most environmentally sustainable orbital launch rockets in the world.

As CEO, Chambers will oversee the next phase in Orbex’s growth journey, including the completion of its Sutherland Spaceport, which will be the first spaceport globally to be carbon-neutral in its construction and operation, testing phases and regulatory licensing. This journey will culminate in the company’s first launch from the UK mainland. As full-time Executive Chair, Belló Mora will provide crucial industry knowledge to support Orbex’s ambitious strategy.

Phillip Chambers, CEO of Orbex, said:

“It’s a hugely exciting time to be joining Orbex and the global space industry as we look ahead to a significant period of growth for the business. As we progress towards the completion of the Sutherland Spaceport and our continuing work towards our first launch, we’re about to embark on an incredible journey. Orbex’s work is pivotal in making the UK a hub for European orbital launch, and after having already invested in the vision, I’m looking forward to focusing all my energy on driving Orbex towards the next phase of growth.”

Miguel Belló Mora, Executive Chair of the Orbex Board, added:

“I’ve never experienced a more exciting time during my 40 years in the space industry. Orbex’s ambition to continually drive the industry forward in both technology and green innovation, is unique for the business, and I am pleased to be able to help shape this. To be joining at the same time as Phil is an added bonus, and I look forward to working closely together during what is shaping up to be a crucial few years for Orbex.”

Orbex is building Prime, a 19-metre long, two-stage rocket designed to transport small satellites weighing up to 180kg into Low Earth Orbit. Orbex Prime is powered by a renewable bio-fuel, which allows the rocket to reduce carbon emissions significantly compared to other similarly sized rockets being developed elsewhere around the world. Last year, Orbex began construction of Sutherland Spaceport (formerly Space Hub Sutherland) on the North coast of Scotland. It is the first vertical launch spaceport to be built on the UK mainland and will become Orbex’s ‘home’ spaceport, where the company will launch up to 12 rockets per year for the deployment of satellites into Earth’s orbit.

Source: Orbex

Forres, UK, May 11, 2022 – Orbex has unveiled the first full-scale prototype of the Prime orbital space rocket on its dedicated launch pad publicly for the first time.

The unveiling of the first of a new generation of European launch vehicles - designed to launch a new category of very small satellites to orbit - represents a major step forward for the British rocket company as it prepares for the first ever vertical rocket launch to orbit from UK soil. Orbex´s Prime rocket is the first 'micro-launcher' developed in Europe to reach this stage of technical readiness.

With the first full integration of the Orbex rocket on a launch pad now complete, the company is able to enter a period of integrated testing, allowing dress rehearsals of rocket launches and the development and optimisation of launch procedures. Orbex recently revealed their first test launch platform at a new test facility in Kinloss, a few miles from the company's headquarters at Forres in Moray, Scotland.

Prime is a 19-metre long, two-stage rocket that is powered by seven engines, that is being designed and manufactured in the UK and Denmark. The six rocket engines on the first stage of the rocket will propel the vehicle through the atmosphere to an altitude of around 80km. The single engine on the second stage of the rocket will complete the journey to Low Earth Orbit (LEO), allowing the release of its payload of small, commercial satellites into Earth's orbit.

Uniquely, Orbex Prime is powered by a renewable bio-fuel, bio-propane, supplied by Calor UK. This fuel allows the rocket to reduce carbon emissions significantly compared to other similarly-sized rockets being developed elsewhere around the world. A study by the University of Exeter showed that a single launch of the Orbex Prime rocket will produce 96 per cent lower carbon emissions than comparable space launch systems using fossil fuels. Prime is also a re-usable rocket which has been engineered to leave zero debris on Earth and in orbit.

Josef Aschbacher, Director General, European Space Agency (ESA):

“I am deeply impressed with the speed at which the Orbex Prime rocket was developed. It is the first full orbital micro-launcher in Europe. But I am equally impressed by the low-carbon footprint technology applied. My sincere congratulations to the whole Orbex team for this impressive achievement.”

Orbex Prime will launch from Space Hub Sutherland, a new spaceport being constructed on the North Coast of Scotland. Space Hub Sutherland was the first vertical spaceport to receive planning permission in the UK and will be the first European spaceport brought into operation later in 2022. It is also the first and only spaceport worldwide that has committed to being carbon-neutral, both in its construction and operation.

Ian Annett, Deputy CEO of the UK Space Agency:

“We are on the cusp of an historic moment, with Orbex playing a leading role in generating a brand new launch capability in the UK, while creating opportunities for people and businesses across the country. I can’t wait to see Prime lift off from Space Hub Sutherland.”

UK Science Minister George Freeman:

“This is a hugely exciting time for the UK space and satellite sector as we count down to the first satellite launches from UK spaceports. Orbex Prime is a remarkable feat of engineering from a British rocket company, pioneering more sustainable and innovative fuels that cut carbon emissions. It is also fantastic to see Moray-based Orbex creating more high-quality jobs, demonstrating the value of our thriving space sector to support emerging clusters of innovation to help level up the whole of the UK.”

The market for small satellites is increasing rapidly, as a wide range of new small satellite constellations are developed and deployed. Micro-launchers such as Orbex Prime give satellite manufacturers a dedicated launch service, in contrast to larger, ‘rideshare’ launchers, where small satellites are a often a secondary payload, and frequently face significant delays.

Chris Larmour, CEO, Orbex:

“This is a major milestone for Orbex and highlights just how far along our development path we now are. From the outside, it might look like an ordinary rocket, but on the inside, Prime is unlike anything else. To deliver the performance and environmental sustainability we wanted from a 21st century rocket we had to innovate in a wide number of areas – low-carbon fuels, fully 3D-printed rocket engines, very lightweight fuel tanks, and a novel, low-mass reusability technology.”

About Orbex

Orbex is a UK-based spaceflight company with headquarters, production and testing facilities in Scotland, and design and testing facilities in Denmark. Orbex staff members have professional backgrounds with NASA, ESA, Ariane and several commercial spaceflight organisations. The company is now funded by two of the UK’s largest and most active venture capital funds, BGF and Octopus Ventures, who join two of Europe's largest venture capital funds, Heartcore Capital and the High-Tech Gründerfonds, as well as strategic investor Elecnor, parent company of Deimos Space, the UK Space Agency (UKSA), the European Space Agency (ESA) and the European Commission Horizon 2020 programme.

Source: Orbex