Forres business Orbex accepts £20 million UK government investment for Prime rocket space launch project
The UK Government has pledged to invest £20 million in a Forres-based company’s project.
The investment in Orbex, part of the Labour’s ‘Plan for Change’, will help to fund the construction and launch of ‘Prime’ - the first orbital rocket manufactured in UK and launched from British soil - while encouraging more investment and supporting high-skilled jobs.
Orbex CEO, Phillip Chambers, is thrilled with the backing.
He said: “This first of a kind investment by the government demonstrates its confidence in the UK’s space rocket manufacturing and launch sector. It’s an exciting start to the opening of our Series D fundraising.
“This investment paves the way not only for us to launch our first rocket this year but also to develop a larger rocket to enable us to compete in the European Launcher Challenge.”
Back in December Orbex announced it was halting work on the spaceport it had been developing in north Sutherland.
The move prompted calls from some community and business representatives that the company should repay some of the £14.6million of public money already ploughed into the venture.
Prime is now set to take off from late 2025 at Scottish spaceport SaxaVord at Haroldswick, Unst, Shetland, one of two licensed vertical launch spaceports in Europe, catalysing the UK’s position as a leading small satellite manufacturer and global space leader.
Regularly launching rockets into orbit from the UK’s shores is expected to massively boost the UK economy. With European demand for satellites up to 2033 forecasted to be worth $50 billion, even two per cent of this would bring around $1 billion in revenue.
So far, the Prime project has created more than 140 highly skilled jobs in Forres, with many more anticipated as the company continues to grow.
It is also expected that the launch of Prime will also help to inspire a new generation of British space professionals.
Technology Secretary, Peter Kyle, announced the investment at Brussels’ European Space Conference.
He said: “Britain’s impressive toolkit of scientific talent, world class facilities, and unique geography means we stand ready to lead the new space revolution in Europe.
“Supporting Orbex’s launch will also inspire our next generation of space professionals, who will be able to design, test, build and launch British rockets, carrying British satellites, from British soil.”
Designed to launch satellites into orbit, Prime will benefit from the UK’s latitude, with Scotland’s geographical positioning providing easy access to valuable polar orbits.
Prime is also Europe-leading in its pioneering approach to sustainability, with ultra green launch systems, powered by renewable bio-propane fuel. The rocket is also designed to be re-useable.
Britain is already a key player in the satellite industry, with Glasgow building more satellites than any other city in Europe.
Scotland Office Minister, Kirsty McNeill, said: "This important industry is playing a vital role in our Plan for Change, helping economic growth and employing thousands of people in good quality jobs, often in small towns and rural communities, across the country."
