Launching unlimited new release (7)
I believe the answer is:
unchain
'release' is the definition.
(I know this)
'launching unlimited new' is the wordplay.
'unlimited' indicates the central letters (discard the edges or 'limits' of the word).
'new' is an anagram indicator.
The centre of 'launching' is 'aunchin'.
'aunchin' with letters rearranged gives 'UNCHAIN'.
(Other definitions for unchain that I've seen before include "loose" , "Release from fetters" , "Release from bondage" , "Free" .)