Gold Coast rocket company Gilmour Space has secured long-awaited approval to launch its Australian-made rocket into space after a two-year battle with the regulator that caused doubts among its investors and future customers over the start-up’s future.

The company, which is backed by venture capital firm Blackbird Ventures and superannuation giant HostPlus, is attempting to launch a low-cost rocket into orbit from a space station outside the northern Queensland town of Bowen.