British spaceflight company Orbex raises £30 million for its reusable Prime launcher

UK-based spaceflight startup Orbex has secured £30 million in public and private funding from the VC funds Sunstone Capital and the High-Tech Gründerfonds, as well as strategic investor Elecnor Deimos Space, private investors, the UK Space Agency (UKSA), the European Space Agency (ESA), and the European Commission Horizon 2020 programme.

Orbex is working on an orbital launch vehicle called Prime to deliver small satellites to altitudes of up to 1,250 km. The new launcher would be “up to 30 percent lighter and 20 percent more efficient” than the other vehicles in its category, Orbex stated in a press release.

In addition to that, the Prime launchers use bio-propane, a single renewable fuel that cuts carbon emissions 90 percent compared to conventional hydrocarbon fuels.

The company will launch its orbital vehicles from the recently announced UK Vertical Launch spaceport in Sutherland in the Scottish Highlands.