Article

Orbex, a British aerospace firm, has declared bankruptcy as it struggled to secure financing or find a buyer. The company was developing the Prime rocket, a two-stage vehicle measuring 1.45 meters in diameter and 19 meters long, designed to launch payloads of up to 200 kg into a 500 km solar-synchronous orbit from SaxaVord Spaceport in the Shetland Islands. Despite being selected as a finalist in the European Launcher Challenge, Orbex's situation worsened when the UK did not contribute funding to the European Space Agency's increased budget, potentially leading to the company's downfall.