First Images of Australian-Built Rocket Released Ahead of Historic Launch
**Gold Coast-based company Gilmour Space prepares for maiden orbital launch**
The eagerly anticipated images of the first Australian-built rocket have been unveiled by Gilmour Space, a Gold Coast-based company set to make history with its upcoming maiden launch. With plans for a rehearsal launch in Queensland’s Bowen, co-founder and chief executive, Adam Gilmour, expressed optimism about the company’s progress.
“If that goes well then we’re ready for launch,” Gilmour said. “The only thing we’re waiting on is approvals from the Australian Space Agency which we think are coming soon.” Affectionately named Eris, the unmanned rocket has been meticulously assembled with meticulous final touches being added to the launch pad and infrastructure.
Weighing over 30 tonnes and stretching 25 metres, the rocket is designed with the capability to carry satellites into space. Gilmour Space has been diligently working on the project since its rocket program initiation in 2015, and now, the official launch is expected to take place as early as April, marking a significant milestone as the first Australian-made rocket to lift-off from domestic soil.
Mr. Gilmour acknowledged the challenges of the first rocket launch, saying, “It’s always tricky with the first rocket in case something goes wrong along the way. With our success going into orbit, we will bring Australia into the space age.”
The project recently secured a major boost, having raised an impressive $55 million from investors such as Queensland Investment Corporation, Hostplus, and HESTA. This injection of funds will enable Gilmour Space to attempt at least four launches, although the initial trials may not reach orbit as expected. Nonetheless, the investment provides the necessary buffer and financial security for the company to continue operations for at least the next two years, according to Mr. Gilmour.
While anticipation builds ahead of the launch date, nerves have begun to creep in for the Gilmour Space team. “When I saw the rocket come together last week … it hit me this is real now,” confessed Gilmour. “I can’t kick it down the road anymore. We’re going to get through it.”
This article was posted 5 hours ago on Mon 19 Feb 2024 at 3:10am.
Analyst comment
Positive:
– The unveiling of the first Australian-built rocket by Gilmour Space is seen as a significant milestone and a step forward for the Australian space industry.
– The company has expressed optimism about its progress and readiness for launch, pending approvals from the Australian Space Agency.
– The project has secured a substantial amount of funding, providing financial security for at least the next two years.
Negative:
– The article mentions that nerves have started to creep in for the Gilmour Space team, indicating some uncertainty or potential challenges ahead.
Neutral:
– The initial trials may not reach orbit as expected, but the investment raised will allow for at least four launch attempts.
As an analyst, it is likely that the market will react positively to this news, as it demonstrates the growth and potential of the Australian space industry. The successful launch of the rocket could generate further interest and investment in the sector.
