Orbex’s Danish subsidiary, Orbital Express Launch ApS, is set to file for bankruptcy after closing its facilities on Jan. 20, resulting in the loss of around 90 jobs, according to people familiar with the matter.
UK-based small-launch developer Orbex established the Danish business in October 2016. Based in Copenhagen, Orbital Express Launch ApS supported group-wide activities including propulsion development, testing, software, avionics and business services.
In its latest available financial statements for the year ending 2024, Orbital Express Launch ApS reported losses of 70.7 million Danish crowns (€9.46 million) and negative equity of 55.4 million crowns (€7.4 million). Auditors said the unit was fully dependent on funding from its parent company, Orbital Express Launch Ltd., and warned of material uncertainty over its ability to continue operating without additional financing.
More than 15 employees posted on LinkedIn on Jan. 20 that they were seeking new roles. Three independent sources told European Spaceflight that the subsidiary has since dismissed its entire workforce and is expected to formally file for bankruptcy on Jan. 22.
The closure comes as Orbex explores strategic options for its remaining operations. On Jan. 21, the company said it had entered talks to sell the rest of the business to European space logistics startup The Exploration Company, confirming that the parties had signed a letter of intent and begun negotiations. Financial details of the potential transaction have not been disclosed.
One source said Orbex began discussions with The Exploration Company in December 2025, after earlier efforts to secure support from the UK government and to sell the company to a private consortium failed. Those initiatives were unable to raise sufficient capital, the source added.
Orbex’s broader financial position remains unclear. According to Companies House, the UK corporate registry, the company is overdue in filing its 2024 accounts, which were due by Dec. 31, 2025. In January 2025, Orbex said its Series D funding totalled £23 million, including a £20 million investment from the UK government.
However, in evidence submitted to the Scottish Affairs Committee in March, the company said it would need to raise a further £120 million in private capital to fund its four-year plan. While European Space Agency member states committed €34.9 million to Orbex in November 2025 under the European Launcher Challenge, including €8 million from Denmark, that funding is intended to co-finance launch services rather than directly support rocket development.
