(CNN) — In a bold move to address the shortage of platinum that halted production at an electric scooter company, former satellite launch company employee Matt Gialich set out to extract metal from asteroids. Teaming up with José Acain, who has extensive experience at SpaceX and NASA, they founded AstroForge in 2022, with the goal of making asteroid mining a reality.
The California-based startup is part of a growing trend towards exploring alternative sources of mineral resources, driven by the increasing demand for clean energy technologies. Companies worldwide are investing millions into testing asteroid mining technologies, despite skepticism from some quarters.
AstroForge’s plans are ambitious, aiming to send a small refinery into space to extract metals from asteroids, particularly platinum group metals (PGMs), which are essential for various industries, including clean energy. Despite setbacks, including a failed inaugural mission last April, the company remains resilient and is gearing up for another mission to explore a metallic asteroid near the Moon.
While some question the feasibility and cost-effectiveness of asteroid mining, others, like Gialich, see it as the next frontier in resource extraction. With advancements in technology and reduced costs in space travel, companies like AstroForge are pushing the boundaries of what was once considered science fiction.
As AstroForge continues to pursue its lofty goals, the future of asteroid mining remains uncertain. However, the company’s determination and innovative approach may pave the way for a new era of resource exploration beyond Earth’s borders.