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.
First in an irregular series on entrepreneurial buzz words
Come on let’s pivot again, Like we did last quarter! Yeaaah, let’s pivot again, Like we did last year!
Do you remember when, ROI was really hummin’, Yeaaaah, let’s pivot again, Pivotin’ time is here!
Heeee, and round and round til IPO we go! Oh, baby, make those investors love us so!
Let’s pivot again, Like we did last quarter! Yeaaah, let’s pivot again, Like we did last year!
There comes a time in the existence of many startups when there an urgent need to change direction. You set up the company to pursue a goal, but for one reason or several — a lack of a market, shortage of investment, regulatory hurdles, a flawed concept — you have to direct all that talent, technology and enthusiasm toward a new objective that will keep the company in operation.
Houston Press has a long, sad look at one of the more curious NewSpace projects, Excalibur Almaz, and the man behind it, Art Dula.
Excalbur Almaz is a company based in the Isle of Man whose goal is to refurbish a couple of Soviet-era Almaz space stations and four crew return capsule for some type of space mission. The company has gone through numerous iterations, from space tourism to commercial space station to NASA commercial crew to deep space mining facility.
So far they haven’t raised enough money for any of these ideas, although the company has generated a couple of investor lawsuits alleging fraud, one dismissed and the other still pending.
There are a couple very troubling allegations that are chronicled in the story. One is that the sales agreement between Excalbur Almaz and the Russian seller stipulated that the technology was not to be modified for space flight. This is alleged in a lawsuit filed by Japanese investor Takafumi Horie.
REDMOND, Wash., USA, June 13, 2016 (Planetary Resources PR) – Planetary Resources, Inc., the asteroid mining company, announced today that it has signed a Memorandum of Understanding with the Government of the Grand Duchy of Luxembourg and the banking institution Société Nationale de Crédit et d’Investissement (SNCI).
Luxembourg will make an initial investment of 200 million euros ($227 million) to become the “Silicon Valley of space resources” under an initiative that will primarily benefit two American asteroid mining companies.
LUXEMBOURG CITY (Luxembourg Government PR) — The Luxembourg Government forges ahead with the SpaceResources.lu initiative by presenting an overall strategy to be implemented progressively for the exploration and commercial utilization of resources from Near Earth Objects (NEOs), such as asteroids. Amongst the key actions undertaken is the establishment of an appropriate legal and regulatory framework for space resource utilization activities to provide private companies and investors with a secure legal environment.
REDMOND, Wash., May 26, 2016 (Planetary Resources PR) – Planetary Resources, Inc., the asteroid mining company, announced today that it has secured US$21.1 million in Series A funding. The capital will be used to deploy and operate Ceres, an advanced Earth observation business that features the first commercial infrared and hyperspectral sensor platform to better understand and manage humanity’s natural resources.
The funding was led by Bryan Johnson and the OS FUND; and joined by Idea Bulb Ventures; Tencent; Vast Ventures; Grishin Robotics; Conversion Capital; The Seraph Group; Space Angels Network, a syndication of investors from Angel.co; and Larry Page. Earth observation will be another aspect of Planetary Resources’ operations in addition to prospecting and mining asteroids.
Asteroid mining company Planetary Resources sent out the following cancellation and refund message today has been sent to supporters of its ARKYD Kickstarter. The campaign raised money so people could send pictures of themselves into space that would be displayed with Earth in the background.
According to the message, Planetary Resources was only going to launch the satellite if it got other people to give them even more money to fly the mission. That funding was which was not forthcoming from the multiple billionaires that back Planetary Resources (Larry Page, Eric Schmidt and Richard Branson among them) or anyone else the company targeted for funding.
LUXEMBOURG CITY (Luxembourg Ministry of the Economy PR) — The Luxembourg Government today announced that Simon “Pete” Worden (Brig. Gen., USAF, Ret., PhD), Chairman of the Breakthrough Prize Foundation, joins the government’s Advisory Board of the recently announced spaceresources.lu initiative. The initiative defines a framework for the exploration and commercial utilization of resources from Near Earth Objects (NEOs), such as asteroids.
MOFFETT FIELD, Calif. (DSI PR) — Asteroid mining company Deep Space Industries, together with the Luxembourg Government and the Société Nationale de Crédit et d’Investissement (SNCI), the national banking institution in Luxembourg, have signed an agreement formalizing their partnership to explore, use, and commercialize space resources as part of Luxembourg’s spaceresources.lu initiative.