Australia's Rocket Maker Gets $217M to Launch Local Space Era

An Australian company that builds rockets in a Gold Coast warehouse just landed $217 million to help the country claim its place in the space race.

Gilmour Space Technologies secured the massive investment less than a year after launching Australia's first homegrown orbital rocket. The federal government's National Reconstruction Fund kicked in $75 million, matched by superannuation giant HostPlus, with private investors covering the rest.

The funding marks a turning point for Australia's space industry. Minister for Industry Tim Ayres says the country needs its own space capabilities for both strategic reasons and future economic growth.

Brothers Adam and James Gilmour have been chasing their childhood space dreams since founding the company. Their first rocket launch in July 2024 lasted just 14 seconds before crashing, but experts still called it a success because it proved Australian teams can design and build orbital rockets.

The money will help Gilmour Space expand operations at their Gold Coast facility and at Australia's only spaceport in Bowen, North Queensland. CEO Adam Gilmour says the goal is delivering reliable rocket launches for customers around the world.

The Ripple Effect

University of Southern Queensland astronomer Rebecca McElroy says investing in local space companies creates opportunities far beyond rocket launches. Australian firms can compete for contracts with NASA and other space agencies to build rocket components and specialized technology.

The space sector is growing fast as more satellites and equipment head to orbit. Building Australian expertise now means capturing future contracts and creating high-tech jobs at home rather than sending that work overseas.

McElroy points out that while Australian companies won't overtake giants like SpaceX, they don't need to. Carving out specialized capabilities gives Australia leverage in an industry that's becoming crucial for communications, national security, and scientific research.

The investment also validates a model where government funding partners with private capital to build new industries. HostPlus matching the federal contribution shows investors believe Australian space technology can compete globally.

Australia's space ambitions are lifting off, one launch at a time.