Tag: asteroid mining

Entrepreneurial Lingo Lesson: The Pivot

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twist_chubby1_disrupt copy
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.

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The Long, Sad History of Excalibur Almaz

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Excalibur Almaz's space tourism vehicle concept. (Credit: Excalibur Almaz)

Excalibur Almaz’s space tourism vehicle concept. (Credit: Excalibur Almaz)

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.

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Planetary Resources Signs MOU With Luxembourg Government, Bank

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Arkyd-3 satellite (Credit: Planetary Resources)

Arkyd-3 satellite (Credit: Planetary Resources)

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).

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Luxembourg Commits $227 Million to Space Mining Initiative

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Asteroid Eros

Asteroid Eros

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.

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SpaceResources.lu: New Law to Provide Framework for Space Resource Utilization

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Asteroid Eros

Asteroid Eros

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.

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Planetary Resources Announces $21.1 Million Funding Round For Sat Constellation

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Ceres constellation (Credit: Planetary Resources)

Ceres constellation (Credit: Planetary Resources)

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.

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Planetary Resources Shelves Arkyd Space Selfies Due to Lack of Funding

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Arkyd-3 satellite (Credit: Planetary Resources)

Arkyd-3 satellite (Credit: Planetary Resources)

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.

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Pete Worden Joins Advisory Board of Luxembourg’s Space Resources Initiative

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Luxembourg Deputy Prime Minister and Minister of the Economy, Étienne Schneider with Pete Worden. (Credit: Luxembourg Government)

Luxembourg Deputy Prime Minister and Minister of the Economy, Étienne Schneider with Pete Worden. (Credit: Luxembourg Government)

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.

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Deep Space Industries, Luxembourg Government Announce Prospector-X Mission

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Deep_Space_Prospector_X
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.

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Space Renaissance Act Calls for Major Changes in Commercial Policies

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Earth_from_space_graphic

By Douglas Messier
Managing Editor

Rep. Jim Bridenstine’s (R-OK) proposed American Space Renaissance Act (ASRA) would bring about significant changes in the nation’s commercial space policy, with a much larger role for the Department of Transportation and a revamping of activities within the Commerce Department.

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OSTP Recommends Giving Mission Approval Authority for FAA

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George Nield

The White House’s Office of Science and Technology Policy (OSTP) has recommended to Congress that the Secretary of Transportation be given the power to provide mission authorizations for such non-traditional space activities as asteroid mining and private space stations, a FAA official revealed last week.

George Nield, FAA associate administrator for Commercial Space Transportation, said an authorization would stipulate that a mission is in compliance with U.S. space policy, foreign and national security considerations, and international treaty obligations.

Nield made his remarks last week during a meeting of FAA AST’s Commercial Space Transportation Advisory Committee (COMSTAC).

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Planetary Resources Receives Patent for Asteroid Prospecting & Mining

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Spacecraft examine asteroid. (Credit: Planetary Resources)

Spacecraft examine asteroid. (Credit: Planetary Resources)

U.S. Patent No. 9,266,627
February 23, 2016
[Full Patent]

Method, apparatus, and system for asteroid prospecting and mining

Abstract

A method of prospecting asteroids for mining includes (a) launching at least one spacecraft, the spacecraft including a space telescope; (b) examining a plurality of asteroids using the space telescope to gather scientific data on the asteroids for characterization and cataloging; and (c) selecting one or more asteroids to mine from the plurality of asteroids examined by the space telescope and contained within the catalog. A system for prospecting asteroids for mining is also described.

Inventors: Anderson; Eric (Arlington, VA), Diamandis; Peter H. (Santa Monica, CA), Lewicki; Chris (Bellevue, WA), Voorhees; Chris (Bellevue, WA)

Applicant: Planetary Resources Development Corporation, Bellevue, WA
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Deep Space Industries Selected for NASA SBIR Phase II Award

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dsi_logoNASA has selected asteroid mining company Deep Space Industries for a Small Business Innovation Research (SBIR) Phase II award to continue work on developing and testing of asteroid soil simulants.

The project is aimed at producing “at least four asteroid simulants at high fidelity for mineral content and particle size, created through standardized inputs and documented processes” for use by terrestrial researchers in a variety of programs.

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Luxembourg’s Bold Move into Space Mining

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ESA's Asteroid Impact Mission is joined by two triple-unit CubeSats to observe the impact of the NASA-led Demonstration of Autonomous Rendezvous Technology (DART) probe with the secondary Didymos asteroid, planned for late 2022. (Credit: ESA - ScienceOffice.org)

ESA’s Asteroid Impact Mission is joined by two triple-unit CubeSats to observe the impact of the NASA-led Demonstration of Autonomous Rendezvous Technology (DART) probe with the secondary Didymos asteroid, planned for late 2022. (Credit: ESA – ScienceOffice.org)

By Douglas Messier
Managing Editor

Luxembourg’s announcement of its space resources initiative provides three things that companies like Planetary Resources and Deep Space Industries (DSI) need to make their dreams of mining asteroids a reality.

Legal Recognition. The United States is alone in the world in recognizing space property rights. There is some dispute over whether the law violates the 1967 Outer Space Treaty.
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Deep Space Industries Praises Luxembourg Space Resources Mining Initiative

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dsi_logoMOFFETT FIELD, Calif. (DSI PR) — Deep Space Industries (DSI) congratulates Luxembourg’s Economic Ministry on their announcement today that they will be actively pursuing space resource utilization. Spaceresources.lu is a government-sponsored initiative, planning the exploration, use, and commercialization of valuable minerals and other resources from Near Earth Objects (NEOs), like asteroids. Luxembourg’s Spaceresources.lu initiative – to be conducted in cooperation with commercial partners – is destined to facilitate and support the creation of an entire new space industry.

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