Scope
Reference
UKSAC25_0061
Description
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.
Contract 1
Supplier
Contract value
- £135,000 excluding VAT
- £162,000 including VAT
Above the relevant threshold
Earliest date the contract will be signed
12 August 2025
Contract dates (estimated)
- 12 August 2025 to 31 October 2025
- 2 months, 20 days
Main procurement category
Services
CPV classifications
- 66171000 - Financial consultancy services
Contract locations
- UK - United Kingdom
Other information
Conflicts assessment prepared/revised
Yes
Procedure
Procedure type
Direct award
Direct award justification
Additional or repeat goods, services or works - extension or partial replacement
This work is an update to previously competed work competed that was awarded to the Supplier. The scope of the work updates and the original services that were delivered part of that original work was designing an appropriate methodology a different methodology would lead to the work being incompatible with, the existing services delivered where the time and cost of working with another supplier would be disproportionate.
The supplier demonstrated their suitability for undertaking work of this nature by having been awarded the contract for the original due diligence work on a competitive basis.
Supplier
PRICEWATERHOUSECOOPERS LLP
- Companies House: OC303525
- Public Procurement Organisation Number: PWXM-5926-GWLN
1 Embankment Place
London
WC2N 6RH
United Kingdom
Email: uk_tender_tracker@pwc.com
Website: http://www.pwc.co.uk
Region: UKI32 - Westminster
Small or medium-sized enterprise (SME): No
Voluntary, community or social enterprise (VCSE): No
Contract 1
Contracting authority
UK Space Agency
- Public Procurement Organisation Number: PRTY-4245-MTJY
Quad Two Building 1st Floor, Rutherford Avenue, Harwell Science and Innovation Campus
Didcot
OX11 0DF
United Kingdom
Region: UKJ14 - Oxfordshire
Organisation type: Public authority - central government