Daily Mail



THE failure of the Virgin Orbit satellite has distracted investors from the ‘real gold’ in Britain’s space industry, a major fund manager has warned.

Mark Boggett, who runs Londonlist­ed Seraphim Space, said bosses should focus on boosting homegrown space talent – rather than high-profile industry setbacks.

The first satellite mission from UK soil failed to reach orbit in January because its rocket fuel filter became dislodged.

Boggett said: ‘People are so focused on Virgin Orbit, they have no idea where the real gold is for the UK – but it will become clear’. The 51-year-old said the UK was a world leader, attracting more investment in space projects than any country apart from China and the US.

Boggett’s comments follow warnings from across the industry that ‘difficult’ regulation­s in the UK are threatenin­g its competitiv­e edge.

Joshua Western, who runs satellite maker Space Forge, said: ‘The right questions are being asked but the speed of the process is where we’re losing.’ And Virgin Orbit boss Dan Hart said the regulatory landscape was ‘difficult’.

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