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A new startup is seriously planning to mine platinum from asteroids

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Demonstration expected next year

California startup AstroForge could get its ambitious near-Earth asteroid mining plan off the ground relatively soon thanks to a rapid influx of seed funding.

Founded by Matt Gialich and Jose Acain in January 2022, AstroForge has raised $13 million that will be used to advance the company’s goal of mining platinum group metals from asteroids.

“The $13 million we just raised will allow us to expand our test facility, hire a few people, and complete the first demonstration run ,” Gialich said. “ The real dream for us is to go to deep space and collect resources from there . ”

According to TechCrunch, the company has developed a technique for extracting materials from asteroids with a diameter of 20 to 1,500 meters. Instead of landing probes on the surface, the company will break apart asteroids from a distance and collect valuable materials.

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A demonstration in January 2023, if it takes place, will include the launch of a “processing payload” that will operate on an asteroid sample in orbit.

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