Gold Coast-based Gilmour Space readies its Australian-built rocket for a maiden orbital test flight

A $600m-plus aerospace company is readying for a first orbital test flight of its purely Australian-developed rocket and says 2025 will be a year of significant milestones.

Gilmour Space plans to complete a maiden orbital test flight in the first quarter of 2025.

Aerospace company Gilmour Space Technologies has its sights set on a breakthrough year and is targeting its maiden orbital test flight in the first quarter.

Chief financial officer Ashley Hasforth said there would be “many firsts” for the Gold Coast-based company, which was founded 12 year ago by former banker Adam Gilmour and his brother, James.

“We’re targeting our maiden orbital test flight in the first quarter of 2025, pending final CASA (Civil Aviation Safety Authority) approvals, with a subsequent launch later in the year,” Mr Hasforth said.

“We are also expecting to launch our first commercial satellite and complete our first hypersonic test flight this year.”

Mr Hasforth said the company was transitioning from research and development because the global launch industry was facing a facing a supply deficit, and many competitors were locked into multiple launch contracts through 2025 and 2026.

“This creates a big opportunity for Gilmour Space to deliver timely and reliable access to orbit,” he said.

In November last year federal Industry and Science Minister Ed Husic and the Australian Space Agency granted Australia’s first permit to Gilmour Space to launch of its Eris rocket, which is the first purely Australian orbital launch vehicle.

Last year, Gilmour’s Bowen Orbital Spaceport was granted Australia’s first orbital launch facility licence, and in September the company announced it had successfully completed a major wet dress rehearsal of its Eris launch vehicle, progressing the countdown to T-10 seconds.

Gilmour Space Technologies founders Adam and James Gilmour.

Gilmour Space’s last capital raise was a privately funded $55m Series D round in January 2024, which brought its total investment to about $140m. The opportunity attracted institutional investors such as Blackbird, Main Sequence, Fine Structure Ventures, QIC, and Hostplus.

The latest capital raising values Gilmour Space at $600m and Mr Hasforth said that since then there had been substantial progress made across the business.

“With plans for another funding round later this year, we anticipate a significant increase in our valuation,” he said.

In mid 2024 construction was completed on a common testing and manufacturing facility in Yatala, Queensland, which will also serve as Gilmour Space’s new 10,000 sqm manufacturing headquarters.

The facility is a large warehouse with an annex for corporate offices, and is located within the Stockland Distribution Centre South.

Gilmour Space currently has workforce of 200 in Australia and has more than 40 job opportunities listed on its website.

Mr Hasforth said Australia’s space industry was still embryonic compared with established countries like the US, where frequent launches and media coverage have captured public interest.

“We hope our maiden and future launches from the Bowen Orbital Spaceport will inspire similar excitement here and attract international launch customers,” he said.

“Such visibility would elevate the industry’s significance, and encourage the Australian government to increase support and investment in developing sovereign space capabilities.

“While Australia is entering the launch market later than others, our growing space capabilities will help to position us as a major partner for global players.”

Originally published as Gold Coast-based Gilmour Space readies its Australian-built rocket for a maiden orbital test flight