Gilmour Space Technologies: Gold Coast company signs deal to develop lightweight fuel tanks

A Gold Coast space exploration company says it has found a way to slash the cost of sending a rocket to the stars.

A GOLD Coast space exploration company says it has found a way to slash the cost of sending a rocket to the stars.

And it has the money to launch the project after securing a $3 million grant from the Federal Government to develop lightweight rocket fuel tanks.

Helensvale-based Gilmour Space Technologies has teamed with the University of Southern Queensland (USQ) to create the flight-ready cryotanks.

Brothers Adam and James Gilmour. Picture Mark Cranitch.

Gilmour Space chief executive Adam Gilmour said the new tanks would be made from carbon fibre and had the potential to slash 25 per cent of the cost and save up to 30 per cent on weight.

“We are grateful to receive this funding, which will allow us to develop world-class composite materials and components for our orbital launch vehicles, making our rockets more efficient and reducing the cost of access to space,” he said.

USQ Institute for Advanced Engineering executive director Peter Schubel said the funding would be used to boost the country’s space industry.

Gilmour Space Technologies is based at Helensvale.

“This is about sovereign capability – knowledge, skills and advanced facilities which will allow for the growth of the space industry and associated supply chain,” Professor Schubel said.

Gilmour Space last year announced a statement of strategic intent with the Australian Space Agency.

Despite a failed rocket test in the state’s west last year, the company is now working towards launching its first commercial rocket into orbit in 2022.

Further testing will continue this year.

Gold Coast-based Industry, Science and Technology Minister Karen Andrews said the Gilmour project was one of nine to be funded through the Federal Government’s Cooperative Research Centres Projects grant.

COAST COMPANY AT FOREFRONT OF SPACE INDUSTRY

“The projects we are funding are examples of how Australian companies and universities are using research to make a real-world difference, to grow the economy and create new jobs,” Ms Andrews said.

Gilmour Space last year signed a strategic agreement with USQ to collaborate on advanced rocket technology research.

The company, which was founded at Pimpama in 2014, has grown rapidly in recent years and now has a staff of more than 60 people while working towards its aim of launching small satellites.