On their forums they're talking like it will be early 2014 for (early) beta.
2015 is their release date.
Looking at what they've got done, it seems like they've already got most of the basics of the engine together. Sounds like they need to work on art resources, AI, Campaign, Stations, boarding actions and planets. What they've talked about for early beta is having all of the initial player ships in and flyable.