Suborbital Rocket Builder Gravitilab Enters Liquidation

## UK Suborbital Rocket Builder Enters Liquidation UK-based Gravitilab Aerospace Services has ceased trading, with the company undergoing a voluntary liquidation. According to documents filed with Companies House, Gravitilab's shareholders approved a voluntary winding-up at a general meeting held via Microsoft Teams on 20 July. The company's financial position immediately before it closed its doors is outlined in a statement of affairs filed alongside the resolution to wind up. Gravitilab owed more than £700,000 to unsecured creditors, including £324,465 owed to business creditors, £144,487 owed to 19 employees, £104,515 owed to four directors, and £59,001 owed on funding loans. ## Gravitilab's Financial Struggles Gravitilab's financial struggles may have been exacerbated by a major investment that ultimately failed to materialise. The company listed a £24.998 million book debt from BNP Finnest Group, which appears to be linked to a £25 million investment commitment made in July 2023. By April 2024, just £20,000 of the total investment had been received. Gravitilab subsequently petitioned for Finnest Group to be wound up in October 2024, hoping to recover at least some of the almost £25 million still outstanding. ## Development of Suborbital Launch Vehicle Gravitilab had been developing a suborbital launch vehicle called ISAAC that would have been powered by a hybrid propulsion system. The rocket was designed to carry payloads of up to 20 kilograms to an altitude of 170 kilometres. According to its website, the rocket was expected to enter operational service by 2025, a milestone that never came to fruition. The company did, however, complete at least two test flights, including an aerodynamic flight test in Australia in 2020 and a launch in August 2021. ## Liquidation Process The liquidation of Gravitilab is still underway, with the company's assets and intellectual property potentially being offered for sale. However, no response had been received from the liquidators, Price Bailey, at the time of publication. The company's employees and creditors will be affected by the liquidation, with a total of £15,530.75 relating to employee holiday pay classified as a preferential claim. The liquidation of Gravitilab marks the end of a UK-based suborbital rocket builder that had been developing a promising launch vehicle. The company's financial struggles and failed investment may have contributed to its demise, leaving behind a legacy of unfinished projects and unpaid debts.