Global Trends Today
  • News
  • Economy
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
  • News
  • Economy
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
Global Trends Today
No Result
View All Result
Home Investing

Space Mining Startup AstroForge Sets Sights on Off-Earth Mission in 2025

by
August 23, 2024
in Investing
0
Space Mining Startup AstroForge Sets Sights on Off-Earth Mission in 2025
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

Asteroid-mining startup AstroForge is making waves with its plan to land on a near-Earth asteroid in 2025.

The company announced the expedition on Tuesday (August 20), also revealing that it has raised US$40 million in a Series A funding round, bringing the total capital it has accumulated to US$55 million.

The mission will use AstroForge’s Vestri probe, a 440 pound spacecraft designed to dock with a metallic asteroid. The launch is scheduled to take place as a ridealong on Intuitive Machines’ (NASDAQ:LUNR) IM-3 Moon mission.

If successful, it will be the first privately funded mission to land on a celestial body beyond the Earth-Moon system.

Founded in January 2022, AstroForge is looking to pioneer off-Earth mining and make off-world resources available for commercial use. While other space ventures are targeting water extraction from asteroids, AstroForge is concentrating on mining metals, with the goal of unlocking cost-effective and sustainable solutions to address resource depletion.

The California-based company hopes that it will be able to develop a new supply chain for critical raw materials.

The upcoming asteroid-landing mission is its third in a series of exploratory space ventures.

The company’s first mission, Brokkr-1, was launched in April 2023 aboard a SpaceX Falcon 9 rocket. Although the firm’s primary goal of demonstrating refinery technology in space was not achieved — due to the AstroForge team’s inability to activate the probe’s refinery payload — the mission provided valuable experience.

AstroForge’s second mission, Odin, is set to launch later this year. Odin will serve as a precursor to the 2025 asteroid-landing mission by gathering crucial data about the target asteroid.

The Odin spacecraft will be a secondary payload on Intuitive Machines’ IM-2 mission to the Moon. It will focus on imaging the asteroid, giving AstroForge critical insights for its subsequent mining efforts. Odin, a 220 pound vehicle built entirely in-house, is replacing an earlier version of the spacecraft that failed vibration testing in March 2023.

AstroForge’s third mission will play a pivotal role in characterizing the composition of the targeted asteroid. The company’s goal is to assess both the quality and quantity of the valuable elements on the asteroid.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com
Previous Post

What is Coltan? 5 Facts to Know About the Conflict Mineral (Updated 2024)

Next Post

Potash, Oil and Metal Shipments Halted as Canadian Rail Workers Locked Out

Next Post
Potash, Oil and Metal Shipments Halted as Canadian Rail Workers Locked Out

Potash, Oil and Metal Shipments Halted as Canadian Rail Workers Locked Out

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    • Trending
    • Comments
    • Latest

    Hacker lexicon: What is a supply chain attack?

    June 11, 2021

    Losing Depop to US ownership makes the British tech sector look secondhand

    June 11, 2021

    Andrew Lloyd Webber to sue the Government if theatres are not fully reopened from June 21

    June 11, 2021

    Microsoft’s Kate Crawford: ‘AI is neither artificial nor intelligent’

    June 11, 2021
    Tech 5: US Lifts EDA Restrictions for China, Apple Explores Third Party AI for Siri

    Tech 5: US Lifts EDA Restrictions for China, Apple Explores Third Party AI for Siri

    0

    Reply to “Reply to Whitehead” by Desvousges, Mathews and Train: (4) My treatment of the weighted WTP is biased in favor of the DMT (2015) result/conclusion

    0

    The 40 Weirdest (And Best) Charts We Made In This Long, Strange Year

    0

    Will The Debate Over $2,000 Stimulus Checks Help Democrats In Georgia?

    0
    Tech 5: US Lifts EDA Restrictions for China, Apple Explores Third Party AI for Siri

    Tech 5: US Lifts EDA Restrictions for China, Apple Explores Third Party AI for Siri

    July 6, 2025
    Stallion Uranium to Resume Trading on the TSX-V and Enters into Agreement to Sell Shares of 1503571 B.C. LTD.

    Stallion Uranium to Resume Trading on the TSX-V and Enters into Agreement to Sell Shares of 1503571 B.C. LTD.

    July 5, 2025
    Top 5 Canadian Mining Stocks This Week: Mkango Gains 90 Percent on Spin-out News

    Top 5 Canadian Mining Stocks This Week: Mkango Gains 90 Percent on Spin-out News

    July 5, 2025
    Lithium Universe LtdInterview with Executive Chairman

    Lithium Universe LtdInterview with Executive Chairman

    July 5, 2025

    Recent News

    Tech 5: US Lifts EDA Restrictions for China, Apple Explores Third Party AI for Siri

    Tech 5: US Lifts EDA Restrictions for China, Apple Explores Third Party AI for Siri

    July 6, 2025
    Stallion Uranium to Resume Trading on the TSX-V and Enters into Agreement to Sell Shares of 1503571 B.C. LTD.

    Stallion Uranium to Resume Trading on the TSX-V and Enters into Agreement to Sell Shares of 1503571 B.C. LTD.

    July 5, 2025
    Top 5 Canadian Mining Stocks This Week: Mkango Gains 90 Percent on Spin-out News

    Top 5 Canadian Mining Stocks This Week: Mkango Gains 90 Percent on Spin-out News

    July 5, 2025
    Lithium Universe LtdInterview with Executive Chairman

    Lithium Universe LtdInterview with Executive Chairman

    July 5, 2025

    Disclaimer: GlobalTrendsToday.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 globaltrendstoday.com | All Rights Reserved

    No Result
    View All Result
    • News
    • Economy
    • Investing
    • Stock
    • Editor’s Pick

    Copyright © 2025 globaltrendstoday.com | All Rights Reserved