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Startup Astroforge received investment to develop its idea
Astroforge, a startup from the United States that is developing the idea of mining materials in space, received $13 million in investments. The company plans to start working on asteroids. According to one of Astroforge’s founders, this money should be enough for several missions. In addition, a test flight is planned for the next year, which will be held in collaboration with SpaceX, the head of which is billionaire Elon Musk.
American start-ups have created a unique technology that allows the extraction of useful materials in space. The founders of the company do not disclose all the secrets of their idea, it is only known that the main subject of their attention is asteroids. The startup plans to mine platinum and iridium on them, and about a million objects which are located close to Earth have been selected for this purpose.
For the first mission, Astroforge has partnered with OrbAstro, which will take over the development of the satellite for the mission.
Astroforge wants to occupy a unique niche and become the first to extract minerals from space objects. It should be noted that for a long time all the developments of the company were classified, and only recently its representatives have begun to partially inform about their ideas.
It is assumed that Astroforge technology will make it possible to mine fossils on asteroids that are between 20 meters and 1.5 kilometers in diameter. It is not yet known what the material production process is. The founders of the startup promise to lift the veil of mystery next year when the technology will be used in Earth orbit. In addition, Astroforge plans to establish the process of supplying materials from space to Earth by the beginning of 2030.
The startup was founded by two talented engineers who managed to work at large space companies. Astroforge recently went through an intensive development program at one of the gas pedals, after which it received its first investment, $13 million. The investors liked the idea of being able to have a virtually inexhaustible source of minerals.
A total of six materials that are part of the platinum group metals, including iridium and platinum – their price is steadily rising – are planned to be mined. It is assumed that the mining facilities will be equipped with cargo bays that can hold about 200 kg of fossils. The developers argue that the creation of large compartments will not be appropriate because the systems are focused on relatively small in diameter asteroids. In addition, the Astroforge space systems are unlikely to use powerful gravitational fields.
Despite the fact that so far the startup idea seems fantastic, investors believe in it and willingly give money for its development.