This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.

Space Exploration Technologies Corporation (SpaceX) has received a five year launch license from the Federal Aviation Administration (FAA) just moments back. The license follows weeks long speculation that kicked off at the start of this month and led some observers to speculate that SpaceX would launch its massive Starship rocket for the first time on April 10th. However, the firm could not do so since it did not have the required clearance in place, but it stressed that Starship was ready to go as soon as the FAA approved it. Now that approval has been granted, the rocket can launch as soon as on the coming Monday.

SpaceX Cleared To Launch Starship Orbital Test Flight From Boca Chica, Texas On Monday

The FAA's statement, which is yet to be publicly released by the agency but was emailed to reporters, read as follows:

After a comprehensive license evaluation process, the FAA determined SpaceX met all safety, environmental, policy, payload, airspace integration and financial responsibility requirements. The license is valid for five years,”

Apart from this, few details are available, but what is clear is that this is the final go ahead for the Starship rocket to launch. It marks a pivotal moment in both SpaceX and American spaceflight history since Starship is the largest rocket in the world and the first that will use more than thirty engines to power itself to orbit.

Today's license follows details shared by SpaceX on its website that outline the different stages of the launch for the orbital flight test, also dubbed OFT. Just as the report was released, SpaceX also tweeted and confirmed that it is currently targeting Monday as the launch date for its rocket.

The Starship OFT test profile shared on SpaceX's website.

The highly anticipated licence award was held up due to environmental considerations for Starship's landing site. Like SpaceX's Falcon 9 rocket, Starship also has two stages, but unlike the Falcon 9, both stages can land vertically and autonomously. According to Reuters' Joey Roulette, an environmental group called Save RGV had expressed reservations about the environmental impact on the sites due to the massive rockets landing. However, the group does not plan any lawsuits as feared at this month's start.

As part of its statement confirming the license grant, the FAA shared that it will integrate different safety measures to ensure civilian air traffic remains unharmed and that it will also use a similar platform that is used in Florida launch facilities to reroute traffic away from the launch site.

SpaceX's website also lays down the time for the test, with the firm targeting a 150 minute window that opens at7:00 a.m. CT.