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Super funds invest millions in Australian space company

By Neil Griffiths
 — 1 minute read

Local superannuation funds have invested millions in launch services company, Gilmour Space Technology, in what is the largest private equity investment raised by a space company in Australia.

Gilmour Space has secured $61 million in its latest round of funding, which included investments from funds like HESTA, Hostplus and NGS Super, bringing the total to $87 million.

“This is a great example of how we’re investing to support visionary businesses take that next step in their growth and development,” HESTA CIO, Sonya Sawtell-Rickson, said.

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“Gilmour Space is going where no Australian business has gone before, which can open up exciting new opportunities for high-tech industries and jobs in Australia, while helping to grow our members’ retirement savings.”

Hostplus chief executive, David Elia, added: “Hostplus’ investment strategy is long-term focused, which is why we invest in Australian companies that develop life-changing technologies and innovations that will provide enduring economic and societal benefits.

“This unique investment presents potential strategic benefits as we anticipate Gilmour’s valuation increasing, and we are delighted to support the exciting future ahead for Australia’s space industry.”

Gilmour Space is based on the Gold Coast with over 70 employees and a growing network of 300 partners.

“It’s fantastic to see the global support for our mission to build and launch lower cost rockets and satellites to orbit,” Gilmour Space CEO and co-founder, Adam Gilmour, said.

“This new investment will give us runway to launch our first orbital rocket in 2022. It will help us develop multiple Eris vehicles, grow our team from 70 to 120 in the next 12 months, build our sovereign space manufacturing capability for rockets and satellites, and facilitate a commercial spaceport in Queensland, where we hope to launch the world’s first hybrid rocket to space.”

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Super funds invest millions in Australian space company
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