Southern Launch on Monday announced it has closed a “significant” funding round led by infrastructure investors that will allow it to build out its launch and test facilities in South Australia.
The deal will see the head of the space sector’s lobby group and Atto Devices chief executive Jeremy Hallett joining the company as board chair.
Mr Hallet is also executive director at Brindabella & Company, a defence industry merchant bank that participated in and managed the transaction.
Southern Launch declined to comment on the raise amount or company valuation, except to say it was a “significant” sum and arrives at a “pivotal” time for the company.
The SpaceTech this month celebrated the successful re-entry of a US customer’s capsule and is eyeing a maiden major rocket launch from its Whalers Way facility later this year.
The activity is ramping up after the company secured state and federal regulatory and planning approvals for the site on the Eyre Peninsula.
The over open water launch site is on private land near marine and conservation parks, but had faced criticism from environmental groups over its threat to endangered species.
The company also operates a Koonibba Test Range for launching sub-orbital missions including hypersonics and flight test drones.
Southern Launch chief executive Lloyd Damp said the two space ports have garnered strong interest from a growing amount of commercial space customers.
“We are excited that this funding round will build out our infrastructure as we increase our cadence of activities at our ranges, and highlight Australia as a global space and high-tech industry development hub,” he said.
The addition of Mr Hallett as the chair of Southern Launch’s board will also accelerate the company’s growth, Mr Damp said.
Mr Hallett is a former CEO at Canberra satellite service firm Clearbox Systems and current chair of the Space Industry Association of Australia.
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