What the buyer wrote
In 2024 HMG provided a £20m investment as a convertible loan note to Orbex. The investment was provided to enable the company to develop their small-lift launch vehicle Prime and prepare their bid for ESA's European Launcher Challenge (ELC). HMG wishes to update the financial due diligence given progress following that investment to understand the company's current financial health including long term viability, business, expenditure and investment plans, risks to successful completion of vehicle and service development, demonstration and reaching commercialisation.
Bid for this and lost? There is a short window in which the decision can be questioned.
Awarded to
Details
- What the buyer calls it
- Orbex Financial Due Diligence
- How they are buying
- Given to one supplier, no competitionNobody else was asked, and the buyer has to be able to justify that.
- Work starts
- 11 Aug 2025
- Work ends
- 31 Oct 2025
- Where
- in the South East
Who the buyer named
Joe Hobbins was the named contact on this notice.