Gilmour Space raises $55m, Eris rocket heads for space

The historic launch of an Australian developed and manufactured rocket is closer with Gold Coast-based Gilmour Space Technologies closing a $55 million Series D capital raise ahead of the company’s maiden orbital launch later this year.

Led by Queensland Investment Corporation (QIC) with Blackbird, Main Sequence and Australian superannuation funds HostPlus and HESTA, the capital will fund the manufacture, test and launch of Eris Orbital Launch Vehicles and satellites to orbit.

Gilmour are building a space services company including rocket and satellite production, and launch services from their Bowen Orbital Spaceport in North Queensland.

Co-founder and CEO Adam Gilmour (pictured) said the firepower brought by committed shareholders would ensure the business can meet its milestones in Australia and abroad.

Gilmour said: “Our team is fortunate to be backed by high-calibre investors whose unwavering support has led to the development of Australia’s first orbital rocket, built by an Australian-owned company, and supported by a local space supply chain.

“This investment will allow us to enhance Australia’s sovereign space and defence capabilities, onshore more manufacturing, and to hire and upskill even more Queenslanders.

“Our vision is for rockets made and launched in Queensland, carrying satellites and other payloads to space for our global customers, and we’re incredibly grateful for the support of QIC in helping us realise that vision.”

Since QIC’s original Business Investment Fund investment in 2021, Gilmour has created more than 100 jobs and plans to increase its total headcount to over 300 by mid-2027.

QIC Private Equity Investment Director Patrick Christiansen said Gilmour’s ability to compete as a launch services provider was be a strong value proposition for an underserviced segment of the global space market.

Christiansen said: “Growing sovereign capabilities in Australian aerospace is often talked about, but it’s Adam and his team knuckling down and making it happen.”

Blackbird co-founding partner Rick Baker said “When we first invested in Gilmour, the team had just produced a ten-centimetre diameter hybrid rocket engine.

“It was a cute little thing that produced a fierce little flame, but the ambition of Adam and the team to build a full-scale rocket was clear.

“The achievements of the team in taking that technology through years of testing and iteration are coming to a head now.”

Further reading:
Gilmour Space begins work on Eris rocket – video

Picture: Gilmour Space Technologies founders James (left) and Adam Gilmour