Planetary Resources misses fund-raising target
Capialism in space: Planetary Resources has failed to meet a recent fund-raising target.
A spokeswoman for Planetary Resources, Stacey Tearne, told GeekWire that financial challenges have forced the company to focus on leveraging the Arkyd-6 mission for near-term revenue — apparently by selling imagery and data. “Planetary Resources missed a fundraising milestone,” Tearne explained in an email. “The company remains committed to utilizing the resources from space to further explore space, but is focusing on near-term revenue streams by maximizing the opportunity of having a spacecraft in orbit.”
Tearne said no further information was available, and did not address questions about employment cutbacks. However, reports from other sources in the space community suggest there have been notable job reductions. For what it’s worth, Planetary Resources had more than 70 employees at last report.
When this company first appeared with a big splash, shouting its plans to mine asteroids, I said “Bunk, it’s going to be a smallsat telescope company for years to come, either looking at the Earth or into space.” And that is where we are. The “near-term revenue streams” hinted at above are certainly the kind of earth-observation imaging that numerous other smallsat companies are providing. Whether Planetary Resources can compete with the large number of already established smallsat earth-observation companies, however, is the big question.
Mining asteroids by commercial companies for profit makes sense, and will eventually happen. I think, however, that this company oversold its abilities when it tried to convince everything that this is what it planned to do, right away.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
Capialism in space: Planetary Resources has failed to meet a recent fund-raising target.
A spokeswoman for Planetary Resources, Stacey Tearne, told GeekWire that financial challenges have forced the company to focus on leveraging the Arkyd-6 mission for near-term revenue — apparently by selling imagery and data. “Planetary Resources missed a fundraising milestone,” Tearne explained in an email. “The company remains committed to utilizing the resources from space to further explore space, but is focusing on near-term revenue streams by maximizing the opportunity of having a spacecraft in orbit.”
Tearne said no further information was available, and did not address questions about employment cutbacks. However, reports from other sources in the space community suggest there have been notable job reductions. For what it’s worth, Planetary Resources had more than 70 employees at last report.
When this company first appeared with a big splash, shouting its plans to mine asteroids, I said “Bunk, it’s going to be a smallsat telescope company for years to come, either looking at the Earth or into space.” And that is where we are. The “near-term revenue streams” hinted at above are certainly the kind of earth-observation imaging that numerous other smallsat companies are providing. Whether Planetary Resources can compete with the large number of already established smallsat earth-observation companies, however, is the big question.
Mining asteroids by commercial companies for profit makes sense, and will eventually happen. I think, however, that this company oversold its abilities when it tried to convince everything that this is what it planned to do, right away.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
How many imaging programs could NASA fund with a COTS/CCDev approach for the cost of JWST?
I hope Planetary Resources hangs in there. Launch costs are coming down and there are opportunities on the horizon for lunar and Martian activities.
There is a discussion over at Transterrestrial Musings and I agree with one of the commenters over there that the moons of Saturn provide a nice target for gathering resources. Jupiter has some radiation issues but with NASA’s interest in a Europa mission, maybe Planetary Resources should be jockeying for a support role and then leverage that into missions to Saturn’s moons.
I, too, was really excited and really disappointed in this company right from the start. I was really excited about their vision and the big-name billionaires they had backing them. Then I realized the billionaires were just contributing their names, not any significant money. That’s when the disappointment set in.
Just as with Bigelow, there more things change, the more things stay the same.
using space resources for further study of space is my topic. I have to write my case study on astronomy. This topic has absorbed me completely