Backing Queensland's pathway to orbit as Gilmour Space raises $217 million

QIC has reaffirmed its long-standing support for Queensland sovereign space capabilities through its participation in Gilmour Space Technologies’ Series E funding round, which has raised more than A$217 million. 
 

In conjunction with QIC’s Brighter Super mandate, the investment will support the continued development of Gilmour’s Eris orbital rocket technology, scale satellite and rocket manufacturing, and expand its Bowen Spaceport.

The Queensland-based company conducted the first test flight of an Australian-developed orbital launch vehicle in July last year and operates the only Australian spaceport licensed for orbital launch operations.

QIC Private Equity Head of Asia Pacific Crystal Russell said the investment reflected QIC’s conviction in Gilmour Space as a potential generational Australian company anchored in Queensland. 
 

This capital raise reflects the strong momentum Gilmour Space has built from Queensland, with proven core technologies and a demonstrated flight heritage across both launch and satellite systems.

 

Crystal Russell - Head of Asia Pacific, QIC Private Equity

 

“We remain confident in Gilmour Space’s ability to translate this technical capability into a sustainable space platform, backed by a vertically integrated model and exclusive access to the Bowen Spaceport.

“With a tangible pathway to commercial scale ahead, QIC is proud to once again support a Queensland company positioned to meet growing global and domestic demand for space access, while creating high-skill jobs and advanced manufacturing capability locally.”

Gilmour Space has also demonstrated its satellite capability through the successful on-orbit operation of its 100-kilogram ElaraSat satellite bus, launched on a U.S. rideshare mission last year.

The company currently employs a workforce of more than 220 and supports hundreds of Australian suppliers across aerospace engineering, manufacturing and skilled trades.

Gilmour Space Technologies CEO Adam Gilmour said the capital raise was a recognition of the confidence in both the company’s progress and Australia’s ability to compete globally in space.

“This investment reflects strong investor confidence in our team and in Australia’s ability to build and operate critical space infrastructure at home,” Mr Gilmour said.

“We’ve reached important technical and business milestones. Our focus now is on execution: delivering reliable and regular access to space for customers both at home and abroad.”

The funding round was led by the National Reconstruction Fund Corporation (NRFC) and Hostplus, with co-investors including the Future Fund, HESTA, Blackbird, Main Sequence, Funds SA and NGS Super.