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The first-ever Australian-made rocket to take flight in this country has crashed after an attempted launch following 14 seconds of air time.
Onlookers claimed to have heard a loud blast followed by large clouds of smoke after the rocket came crashing back down.
There were no reported injuries following the launch.
Co-founder Adam Gilmour took to social media to say he was happy with the result.
“Of course I would have liked more flight time, but happy with this,” he posted.
Gilmour Space Technologies released a statement acknowledging the launch as “a major step forward for Australia’s sovereign space capability,”
Gold Coast Mayor Tom Tate congratulated the team on their effort.
“They are literally a Gold Coast company aiming for the stars. If you ever wanted an example of how diversified our economy is now, this is it.”
The company aims to eventually send satellites into orbit from Australia for commercial entities and the government.