Virgin Orbit is going to set up a space launch base in Queensland

Sir Richard Branson’s Nasdaq listed rocket launch company, Virgin Orbit, is setting up shop in Toowoomba, 100km west of Brisbane, taking up an offer to establish its third global launch site from local entrepreneurs the Wagner brothers.

Virgin Orbit (Nasdaq: VORB) has signed a Memorandum of Understanding  with ASX-listed Wagner Corporation (ASX: WGN), which operates the Toowoomba Wellcamp Airport, with the goal of providing satellite launch services from the airport using the space company’s LauncherOne System.

Established five years ago by Branson, Virgin Orbit’s LauncherOne rockets are air-launched from a modified 747-400 carrier aircraft. The rockets are carried beneath the plane and launched into space from high altitude.

Operations began last year and the Toowoomba launch project could be up and running by 2024.

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