Rocket manufacturer Skyrora has confirmed its interest in purchasing parts of stricken Scottish rival Orbex, including the latter's stewardship of Sutherland Spaceport.
Skyrora, with its main manufacturing facility in Cumbernauld, said its announcement following yesterday's news that Orbex is on the cusp of administration is an "expression of interest only". Any deal would be subject to discussions with the appointed administrators and completion of the necessary due diligence and legal processes.
However, Skyrora highlighted that it could spend up to £10 million on selected assets "vital to preserving UK space capability, protecting national critical infrastructure, and ensuring that technology and IP developed in the UK remains under UK ownership". This would "safeguard" the taxpayer funds historically invested in Orbex.
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“Skyrora is committed to delivering sovereign launch capability for the UK; providing reliable, independent access to space is crucial to the UK’s strategic interests," chief operating officer Jack-James Marlow said.
"Launch will not only unlock commercial activity for companies that need to access space and help achieve the government’s objectives for becoming a global player in the space sector, but it is also a strategic defence consideration."
In August 2025 Skyrora became the first UK rocket manufacturer to receive a launch licence from the Civil Aviation Authority (CAA). Mr Marlow said the company is therefore "best-placed" to take over Orbex's assets.
Funded through a mix of private equity, strategic investment and public sector support, Skyrora was founded in June 2017 by chief executive Volodymyr Levykin, a graduate of the Zaporizhzhia National Technical University in south-eastern Ukraine. About half of Skyrora's employees are based in Ukraine, where the "Rocket City" of Dnipro was home to Soviet space rocket manufacturing during that era.
The company is majority-owned by Ukrainian-born tech entrepreneur Maxym “Max” Polyakov, who took a controlling stake in Skyrora in 2024. Through his investment fund Noosphere Ventures, Mr Polyakov runs a portfolio of space companies such as Firefly Aerospace in the US, Dragonfly Aerospace based in South Africa, and propulsion specialist SETS in Ukraine.
Orbex announced on Wednesday that it is set to appoint administrators after failing to secure further investment or find a buyer for the business. With it headquarters and main manufacturing facility in Forres, Orbex is a significant employer in Moray and has approximately 200 staff across its operations in Scotland and Denmark.
The company has raised more than £100 million in funding to date, including significant backing from the Scottish National Investment Bank. In January 2025 Orbex also received a £20m direct investment from the UK Government as part of a £46m Series D funding round.
However, the Series D funding round ultimately failed after the remaining money required for Orbex to remain a viable business did not materialise. Several merger and acquisition opportunities were also explored, but none resulted in a favourable outcome.
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Orbex took responsibility for the operational management of Sutherland Spaceport – a project originally headed up by Highlands and Islands Enterprise (HIE) – in November 2022. The £20m Sutherland project was backed by a £14.6m public investment package, including more than £9m from HIE.
Construction got underway in May 2023 but that project was mothballed after a surprise announcement in December 2024 that Orbex would put work on its own spaceport on hold in favour of developing rockets designed specifically for launch from Shetland rival SaxaVord.
HIE has said the intention to appoint administrators is "a major blow to Orbex, its employees and their families”. Deputy First Minister Kate Forbes said the Scottish Government is now seeking “clarity on how the UK will protect the Scottish launch sector”.
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