Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Government signs contract with Rocket Lab

Friday 16 September 2016 12:12 PM

Government signs contract with Rocket Lab permitting commercial rocket launches

By Sophie Boot

Sept. 16 (BusinessDesk) - 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)

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Land Report: Issues With Soil Degradation

An environmental report released today has found we are damaging and losing our soils and our native plants and animals. More>>

ALSO:

Water Quality Report: Cause For Optimism

National River Water Quality Trends released by Land, Air, Water Aotearoa (LAWA) this week, reveal that for all river water quality parameters monitored over a 10 year period, more sites were improving than deteriorating. More>>

ALSO:

IMF Report On NZ: Positive Economic Outlook

Minister of Finance Grant Robertson has welcomed the IMF’s Concluding Statement, released following its annual visit, which provides an independent assessment of the strength of the New Zealand economy. More>>

ALSO:

Retail Power Price: Review Panel Named

The Energy and Resources Minister Megan Woods has released the details of who will sit on an expert advisory panel which is tasked with leading a review into the price of electricity in New Zealand. More>>

ALSO:


Increasingly Disruptive Threats: Govt Cyber Security Refresh

Broadcasting, Communications and Digital Media Minister Clare Curran today announced a comprehensive refresh of New Zealand’s approach to cyber security. More>>

ALSO:


Regional Growth: Action Plan To Modernise Taranaki’s Economy

The Provincial Growth Fund (PGF) will invest up to $20 million to help future-proof the Taranaki region by diversifying its economy, creating additional jobs and leveraging off the strong base the region has established through its oil, gas and agricultural ... More>>

ALSO:

Winding Down Irrigation: Funding Ends For Crown Irrigation Investment

The Government has begun winding down public funding for large-scale irrigation through Crown Irrigation Investments Limited (CIIL), in line with the Coalition Agreement and the Confidence & Supply Agreement. More>>

ALSO: