Smart Trade Insights
  • Business
  • Economy
  • Investing
  • Politics
Top Posts
FPX Nickel Joins Mining Association of Canada and...
West High YieldResources Ltd. Announces Exercise of Options...
NATO Defense Spending Pledge Puts Spotlight on Platinum...
Trump, Rio Tinto Push for Copper as Court...
Alice Queen
Stefan Gleason: What Drives Gold’s Next Move Higher,...
Alice Queen: Exploring High-grade Epithermal Gold with Near-term...
Top 5 Copper Reserves by Country
CG1 Non-renounceable Pro-rata Entitlement Offer
How a ship that glides like a pelican...
  • Business
  • Economy
  • Investing
  • Politics

Smart Trade Insights

Investing

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

by admin August 23, 2024
August 23, 2024
Space Mining Startup AstroForge Sets Sights on Off-Earth Mission in 2025

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
Potash, Oil and Metal Shipments Halted as Canadian Rail Workers Locked Out
next post
Mawson Finland Closes IPO and Announces Listing on TSXV

You may also like

KPMG: Building New Mines an “Uphill Struggle,” but...

September 27, 2024

Cleo Commences U.S. Clinical Trials

September 6, 2024

Cardiex Receives TGA Approval for CONNEQT Pulse Device

June 2, 2025

Nuvau Minerals Completes High Resolution Drone MAG Survey

May 13, 2025

Seymour Lithium Project Achieves Permitting Milestone

August 12, 2025

A Major New Play is Being Proven in...

October 17, 2024

Finlay Minerals Enters into Earn-In Agreements with Freeport...

April 19, 2025

6 US Biofuel Stocks in 2025

March 7, 2025

High Grade surface silver results up to 920g/t...

May 15, 2025

CONNEQT Pulse Pre-orders Commence

November 1, 2024

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • FPX Nickel Joins Mining Association of Canada and Signs on to UN Global Compact, Demonstrating Industry Leadership in Sustainable and Responsible Project Development

      August 22, 2025
    • West High YieldResources Ltd. Announces Exercise of Options and Warrants

      August 22, 2025
    • NATO Defense Spending Pledge Puts Spotlight on Platinum Group Metals

      August 22, 2025
    • Trump, Rio Tinto Push for Copper as Court Halts Arizona Mine Transfer

      August 22, 2025
    • Alice Queen

      August 22, 2025
    Promotion Image

    banner ads

    Categories

    • Business (823)
    • Economy (829)
    • Investing (2,674)
    • Politics (737)
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: smarttradeinsights.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.


    Copyright © 2025 smarttradeinsights.com | All Rights Reserved