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flag UK space startup Orbex files for administration, halting its Prime rocket project due to funding failure, impacting jobs but not the Shetland spaceport.

flag Orbex, a UK space company developing the Prime microlauncher, has filed for administration after failing to secure funding through a Series D round and unsuccessful merger talks. flag Despite progress on its sovereign launch capability, commercial commitments, and planning for test flights from SaxaVord Spaceport in Shetland later in 2026, the company halted development and paused site work. flag CEO Phil Chambers expressed disappointment, citing the high capital demands of space ventures and the need for institutional support. flag While the spaceport’s operations remain unaffected and continue with other clients, Orbex employees face job losses as the company explores asset sales or a partial sale.

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