The Federal Government is splashing the cash on a Gold Coast Space company, as Australia tries to earn it’s stripes in a modern day space race.
Gilmour Space will receive $19m to develop low-cost rockets that would be used to put small to medium sized satellites into the earth’s low orbit.
Minister for Industry, Science and Technology Karen Andrews said the Morrison Government is trying to position itself as a leader on the global stage.
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“This investment into Gilmour Space is the 10th investment by CSIRO’s Innovation Fund and a great example of how the government is supporting cutting-edge innovation in Australia’s space industry,” she said.
“We’re committed to creating more long-term opportunities in Australia, that’s why we’re investing more than $300 million to propel Australia’s space industry and develop world-leading core satellite infrastructure.”
The Government says Gilmour Space is translating Australian research into global-scale business.
Adam Gilmour, Founder and CEO of Gilmour Space Technologies, said the is vital to their growth.
“We see small satellite launches as a multi-billion dollar opportunity, and this funding will help us become a significant player in the global small launch market,” he said.
“We look forward to working closer with the government, space agency and CSIRO to help launch Australia into space.”