PARIS (Luxembourg Government PR) — At the occasion of the 2017 Paris Air Show in Le Bourget, Luxembourg’s Deputy Prime Minister and Minister of the Economy Etienne Schneider visited the ESA pavilion and, together with ESA Director General, Jan Wörner, signed a joint statement on future activities concerning missions to the asteroids, related technologies and space resources exploration and utilisation.
You might recall that last June the company announced it had raised a Series A round of funding totaling $21.1 million for an Earth-observation project called Ceres. The constellation of satellites would monitor natural uses using the infrared and hyperspectral sensors.
In the five years since the company came out of stealth mode, it has pivoted from focusing on asteroid missions to remote sensing and now back to asteroid missions.
Foust didn’t report on the reason for the latest pivot. However, Planetary Resources main financial backer and partner is the government of Luxembourg, a postage-size country (as these things go) that doesn’t have a lot of use for natural resource monitoring, but is very interested in asteroid mining.
In November 2016, Luxembourg announced it was investing $28 million in Planetary Resources. The company also has set up an office in the European nation.
Foust did report that Lewicki, who is the company’s CEO, said two Arkyd-6 satellites are being readied for delivery in the next month for launch. The spacecraft will search for promising asteroids.
Lewicki also said the company plans to launch its first asteroid prospecting mission in the second half of 2020.
Tiny Luxembourg is aiming to be the BMOA (big man on asteroids) when it comes to extraterrestrial mining.
The government of Luxembourg expects to soon have in place both a new national space law and a national space agency, two key steps in the small European country’s outsized contribution to the development of a space resources industry.
“We found out that, in order to be successful, and in order to help businesses to develop in this sector, it needs several commitments,” said Etienne Schneider, deputy prime minister of Luxembourg and minister of finance, in remarks at the meeting.
Those commitments, he said, include a “fully committed” government, a legal framework, research and development funding and access to venture capital. “I think that Luxembourg can offer all this,” he said.
The next major milestone for the country’s space resources initiative is passage of a new national space law. That bill, he said, “will be voted on this month or, at the latest, next month.”
Back in February, Professor Brian Cox traveled here to Mojave with his friends Richard and Sam Branson to watch the third glide flight of Virgin Galactic’s SpaceShipTwo Unity.
Bowled over by what he saw even before the suborbital tourism vehicle glided overhead, Cox gave what amounted to a rousing endorsement of Virgin Galactic and SpaceShipTwo to a gathering of company employees.
“People ask me a lot because I’m a space geek and I’m obviously an evangelist for space, ‘Would you fly to space?” Cox said with Richard Branson seated beside him. “And I’ve always said, ‘Well yes and no, because in some sense it’s a dangerous thing to do.’ However, the moment I walked in this hangar and saw that aircraft, I thought, I want to get on that aircraft. So the answer is now is 100 percent yes.”
What was not widely known at the time was that Cox was filming a BBC-commissioned documentary about commercial space. And the company the corporation commissioned to co-produce it, Sundog Pictures, is owned and run by none other than Cox’s good friend, Sam Branson.
REDMOND, Wa., May 22, 2017 (Planetary Resources PR) –Planetary Resources, the asteroid mining company, announced today that it has named Brian Israel as General Counsel. Mr. Israel will oversee the legal, regulatory, and compliance functions for the company, its parent, and Planetary Resources Luxembourg. The company’s vision is to expand humanity’s economic sphere of influence into the Solar System by providing resources for people and products in space, with a near-term goal of identification, extraction, and refinement of water from near-Earth asteroids.
LUXEMBOURG (Luxembourg Government PR – To promote Luxembourg as a European hub for the exploration and commercial use of space resources, the Ministry of the Economy conducted from April 9th to April 13th an economic mission headed by Luxembourg’s Crown Prince to the U.S. West Coast. The mission aimed to identify and develop new business opportunities and to promote the governmental SpaceResources.lu initiative that offers an attractive overall framework for space resource utilization related activities, including but not limited to the legal regime to provide private companies and investors with a secure legal environment as of the ownership of resources gathered in space.
NASA Innovative Advanced Concepts (NIAC) program recently awarded five grants for the development of new technologies for analyzing asteroids, extracting resources from them, and using the materials for new space products.
Optical Mining of Asteroids, Moons, and Planets to Enable Sustainable Human Exploration and Space Industrialization
Joel Sercel TransAstra Corp. Lake View Terrace, CA
Amount: up to $500,000 Length of Study: 2 years
Problem — Deep Space Human Exploration is Unaffordable:
In 2014 the NASA Advisory Council issued a finding that “The mismatch between NASA’s aspirations for human spaceflight and its budget for human spaceflight is the most serious problem facing the Agency.”
Since the time of that advisory, NASA has conducted many mission and systems analyses, but has yet to publish a sustained mission plan and cost analysis that fits within any budget that Congress will approve. NASA’s vision of human exploration remains unaffordable largely due to the high cost of launching large quantities of drinking water, oxygen, radiation shielding and especially rocket propellant from Earth. (more…)
Goldman Sachs says asteroid mining is more realistic than most people think.
In a 98-page note for clients seen by Business Insider, analyst Noah Poponak and his team argue that platinum mining in space is getting cheaper and easier, and the rewards are becoming greater as time goes by.
“While the psychological barrier to mining asteroids is high, the actual financial and technological barriers are far lower. Prospecting probes can likely be built for tens of millions of dollars each and Caltech has suggested an asteroid-grabbing spacecraft could cost $2.6bn,” the report says….
The rewards would be vast: just one asteroid might contain $50 billion (£40 billion) of platinum:
“Space mining could be more realistic than perceived. Water and platinum group metals that are abundant on asteroids are highly disruptive from a technological and economic standpoint. Water is easily converted into rocket fuel, and can even be used unaltered as a propellant. Ultimately being able to stockpile the fuel in LEO [low earth orbit] would be a game changer for how we access space. And platinum is platinum. According to a 2012 Reuters interview with Planetary Resources, a single asteroid the size of a football field could contain $25bn- $50bn worth of platinum.”
LUXEMBOURG (Luxembourg PR)–The Luxembourg Government, the public-law banking institution “Société Nationale de Crédit et d’Investissement” (SNCI) and U.S.-based space technology company Planetary Resources have signed a 25 million euro investment and cooperation agreement within the framework of Luxembourg’s SpaceResources.lu initiative which aims at the exploration and the commercial utilization of resources from Near Earth Objects (NEOs), such as asteroids.
Within this agreement, the Luxembourg Government invests direct capital in Planetary Resources, Inc. and the Ministry of Economy is providing funding through different types of R&D grants.
REDMOND, Washington, November 3, 2016 (Planetary Resources PR) – Planetary Resources, Inc., the asteroid mining company, announced today that it has finalized a 25 million euro [$27.75 million] agreement that includes direct capital investment of 12 million euros and grants of 13 million euros from the Government of the Grand Duchy of Luxembourg and the banking institution Société Nationale de Crédit et d’Investissement (SNCI).
The funding will accelerate the company’s technical advancements with the aim of launching the first commercial asteroid prospecting mission by 2020. This milestone fulfilled the intent of the Memorandum of Understanding with the Grand Duchy and its SpaceResources.lu initiative that was agreed upon this past June.
GUADALAJARA, Mexico. September 28, 2016 (Mx Space/DSI PR) — On September 29, at 11:00 a.m. local time, Deep Space Industries (DSI) and MxSpace will sign an historic agreement that marks the beginning of an international partnership between the companies to promote the development of new commercial space technologies and business ventures. Dr. Francisco Mendieta from Agencia Espacial Mexicana (AEM), as well as executives from both MxSpace and Deep Space Industries, will take part in the signing ceremony at the MxSpace booth (booth #24) on the trade show floor of the 67th International Astronautical Congress in Guadalajara.
The Small Satellite 2016 Conference is now over. Below are links to Parabolic Arc’s coverage of the conference and the CubeSat Workshop that preceded it last weekend. There are also links to announcements made during the conference and in recent weeks.
Deep Space Industries’ Grant Bonin provided more details this week about the company’s Prospector-1 asteroid mission at the Small Satellite Conference in Utah. Below is a summary based on the tweets of Jeff Foust (@jeff_foust) and David Hurst (@OrbitalDave).
Grant Bonin Deep Space Industries
Prospector-1 will be the first commercial spacecraft sent to an asteroid
Prospector-1 is a 50-kg spacecraft whose main objective is to look for extractable water
Water will be key to the cis-lunar economy
Company examining 6 “very attractive” asteroids to explore
There’s a lot we still don’t know about asteroids – two asteroids that appear similar can be very different
Prospector-1 will attempt to soft land on asteroid at the end of its surveying mission to study regolith
Landing will also validate policy regime for commercial asteroid resources
Prospector-1 has midwave and visible infrared imaging for imaging asteroid and neutron spectrometer to study subsurface hydrogen
Spacecraft will launch as a secondary payload, use its own chemical rocket stage to leave Earth orbit for the asteroid
DSI will use super heated water for spacecraft propulsion
MOFFETT FIELD, Calif. (DSI PR) — Deep Space Industries announced today its plans to fly the world’s first commercial interplanetary mining mission. Prospector-1™ will fly to and rendezvous with a near-Earth asteroid, and investigate the object to determine its value as a source of space resources. This mission is an important step in the company’s plans to harvest and supply in-space resources to support the growing space economy.