Sharechat Logo

Government signs contract with Rocket Lab permitting commercial rocket launches

Friday 16th September 2016

Text too small?

The government has authorised the first commercial space rocket launches from New Zealand.

Rocket Lab, which operates a private satellite launch site on the Mahia Peninsula between Napier and Gisborne, intends to start launch operations later this year, Minister for Economic Development Steven Joyce said in a statement. The contract is an interim measure, preceding the Outer Space and High Altitude Activities Bill which will be introduced to Parliament this month to provide a regulatory regime for space launches from New Zealand. 

The government wants the bill passed into law by mid-2017, Joyce said. In June, New Zealand signed the Technology Safeguards Agreement (TSA) with the United States government, which allows commercial entities, including Rocket Lab, to import launch technology and satellites from the US.

“This contract is an important milestone in the work the government is doing to support the development of a New Zealand-based space industry,” Joyce said. “Rocket Lab is capitalising on some of New Zealand’s advantages as an attractive location for space launches. We have clear skies, access to good launch angles, a skilled workforce and an innovation-friendly business environment.”

Rocket Lab is backed by Silicon Valley investor Khosla Ventures, Stephen Tindall's K1W1 fund, Silicon Valley venture capitalist Bessemer Venture Partners, and global defence group Lockheed Martin. In July last year, it signed a contract with the US's National Aeronautics and Space Administration letting it use NASA's resources.

Before launching, Rocket Lab needs to obtain a licence from the US Federal Aviation Administration (FAA) so it can conduct its space launch activities in New Zealand, Joyce said.

BusinessDesk.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

March 6th Morning Report
PEB - First Triage Plus Tests Ordered from Townsville
March 5th Morning Report
Devon Funds Morning Note - 04 March 2026
Genesis Energy announces opening of Rights Offer
March 4th Morning Report
Comvita appoints Andrea Wilkins as Chief Marketing Officer
Synlait provides banking facilities update
CHI - Channel Infrastructure delivers solid FY25 financial result
February 27th Morning Report