The world is truly on the brink of an interstellar bonanza, as experts are eyeing the Moon and beyond for space resources.
Today, the galaxy is being looked at as a giant playground for resource hunting, with the Moon and other celestial bodies promising a treasure trove of untapped resources that could redefine the way we live, work, and power our future on Earth. Resources on other planets could even make life beyond Earth a possibility.
Hence, companies working in the space sector are now pouring their efforts into finding ways to mine these cosmic goodies from the Moon (and possibly other planets) and bring them back home.
The galaxy is a playground for valuable resources that space companies are looking to tap into
Image credits: David Kopacz / Pexels
One such company that is embarking on the ultimate treasure hunt for resources on the Moon is Interlune Space. The U.S.-based company was founded by former Blue Origin employees in 2020 and could be the first private venture to mine resources on the Moon, according to the Washington Post.
"For the first time in history, harvesting natural resources from the Moon is technologically and economically feasible," said Rob Meyerson, the former president of Blue Origin and co-founder of Interlune. "With our uniquely experienced and qualified team, Interlune is creating the core technologies to extract and process lunar resources responsibly to serve a wide range of customers."
The U.S.-based company Interlune is exploring ways to harvest resources on the Moon and bring them back to Earth
Image credits: Bruno Scramgnon / Pexels
Interlune announced on Wednesday that they raised $18 million and are now working on developing technology for lunar mining.
What is key to note here is that almost a decade has passed since Congress passed a law that provides private American space companies the right to the ownership of resources they mine on celestial bodies. This means that Interlune, if they manage to successfully harvest resources from the moon and bring them back to Earth, will have rights over the resources.
Interlune is particularly eyeing Helium-3, which is abundantly found on the Moon
Interlune particularly has its eyes on Helium-3, which is scarcely found on Earth but abundantly scattered across the Moon.
The latest funding will help Interlune “further develop and operationalize technology to extract Helium-3 and other natural resources from the Moon. The funding is an essential milestone for Interlune in pursuing its mission to lead the world in sustainable, responsible harvesting and distribution of natural resources from space to benefit humanity,” the company said in a press release.