The government has ruled out subsidising any such launches or building spaceport at Kaitorete Spit.
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This is despite previous official studies that detailed big benefits from the Crown and private investors working together to build several launchpads on the spit.
But how Tāwhaki used private investment was up to it, the government said.
"We've been exploring the demand and infrastructure requirements for vertical launch since we formed and talks with potential partners are continuing," Tāwhaki said on Wednesday.
"We are on track to deliver a business case to the government before the end of the year."
Tāwhaki said its main focus was on advanced aviation, which uses its runway and does not need a launchpad.
A 600 square metre hangar would be finished shortly, and its runway was used as recently as a few days ago for a test flight.
"We have strong pipeline of customers, with Dawn Aerospace recently announcing plans for a series of flights from the site."
It had a lot to offer for aerospace innovators for testing new technologies, it said.
Its other focus was developing the site alongside environmental protection work, it added.
