California Startup Astroforge to Mine Precious Metals from Asteroids
Discover how Astroforge, a pioneering California startup, plans to revolutionize space mining by extracting platinum-group metals from asteroids using innovative technology.
Asteroids are not just space rocks; they represent lucrative reservoirs of precious minerals. The challenge lies in how to efficiently extract these valuable resources. This is where the American startup Astroforge steps in, having already secured $13 million in funding to tackle this frontier.
Founded by former experts from SpaceX, NASA, and Virgin Orbit, Astroforge has patented a groundbreaking mineral purification technique. Their focus is on harvesting platinum-group metals, including platinum and iridium, from asteroids.
While specific details about their technology remain under wraps, it is known that Astroforge does not intend to land on these celestial bodies. Instead, they will target asteroids ranging from 20 meters to 1.5 kilometers in size—objects that lack significant gravitational fields.
The company plans to test its secretive technology in space early next year by securing a spot on a Falcon 9 rocket for deployment.
Astroforge has identified several candidate asteroids in optimal orbits with high concentrations of platinum-group metals. Out of the 10 million near-Earth objects, they are interested in nearly one million, according to a co-founder.
Though previous ventures like Planetary Resources and Deep Space Industries, backed by Google co-founder Larry Page, invested millions and faced setbacks in asteroid mining, Astroforge aims to succeed where others have struggled, despite the high risks and long investment horizons.
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