A Taiwanese company, TiSPACE, plans to launch Australia’s first commercial rocket later this year.The rocket is called Hapith, which means “flying squirrel” in a Taiwanese Indigenous language.So far, no specific date for the rocket’s launch has been given. However, officials say an experimental flight is planned this year from a private facility on the Eyre Peninsula in South Australia. Official approval was granted by the Australian government this week.Developers hope the vehicle will reach outer space, at least 100 kilometers above sea level, before falling back to Earth, over the sea. The rocket’s data, navigation and propulsion systems will be scrutinized.James Brown, the chief executive of the Space Industry Association of Australia, said it will be a significant mission.“This is the first, sort of, major rocket launch in about 40 years for Australia,” he said. “So, this is a rocket that is about 10 meters high, it’s got two stages, …