A significant development has unfolded—Orbex's Danish subsidiary, known as Orbital Express Launch ApS, is on the brink of filing for bankruptcy. This decision comes with the closure of its facilities scheduled for January 20, leading to the unfortunate loss of approximately 90 jobs.
Orbital Express Launch, headquartered in the UK, initiated its operations in Denmark back in October 2016. The company made strides in various sectors including propulsion, software, avionics, testing, and business services, all centered in Copenhagen.
Recent financial disclosures from the end of 2024 reveal that Orbital Express Launch ApS reported staggering losses amounting to DKK 70,673,917, which translates to around €9.46 million. Additionally, as of December 31, 2024, the firm’s balance sheet reflected negative equity reaching DKK 55,383,356 (approximately €7.4 million). Auditors highlighted a critical dependency on funding from its parent company, Orbital Express Launch Ltd., raising serious concerns about the subsidiary’s future viability without securing additional financing.
On January 20, it was reported that over 15 employees from Orbital Express Launch ApS took to LinkedIn around the same time to announce their job searches. Subsequently, three independent sources confirmed to European Spaceflight that the entire workforce has been laid off, with an official bankruptcy filing expected on January 22.
In the midst of this turmoil, the company announced on January 21 that discussions are underway to sell its remaining operations to The Exploration Company, a startup focused on European space logistics. According to the announcement, both companies have signed a Letter of Intent and negotiations have commenced, although specifics regarding the potential purchase remain confidential at this point.
One insider divulged to European Spaceflight that the discussions with The Exploration Company began as early as December 2025. The source also stated that attempts were made to seek assistance from the UK government, which ultimately did not materialize, along with efforts to attract investment from a private consortium that fell short of gathering necessary funds.
According to Companies House, the official registry for UK companies, Orbex has failed to submit its 2024 financial accounts by the due date of December 31, 2025. Consequently, assessing the current financial status of the primary UK entity of Orbex has become increasingly challenging.
In January 2025, following the revelation that the UK government had invested £20 million into the company, Orbex announced that its Series D funding amounted to £23 million. However, during a presentation to the Scottish Affairs Committee in March, the company indicated a need to raise an additional £120 million in private capital to fulfill its ambitious four-year plan, highlighting an extensive funding gap that remains. Although ESA Member States committed €34.9 million to the company—including €8 million from Denmark—during the Ministerial Council meeting in November 2025, this funding primarily aims to support launch services rather than directly fund the development of rockets.
This scenario raises important questions about the future of space startups and their reliance on government and private funding. What do you think about the challenges faced by companies like Orbex? Do you believe that more robust support systems should be put in place to assist emerging space ventures? Share your thoughts in the comments!
