Moon mining company to bring 'precious resources' back to Earth after funding secured

Moon Express competing for Google’s Lunar Xprize worth $30 million (£25 million)

Sunday 15 January 2017 17:56
Comments
Picture:
Picture:

A company hoping to extract the Moon’s natural resources has just completed a $20 million financing round.

Moon Express, which is based in Silicon Valley, has received a total of $45 million (£37 million) in funding for its efforts a lunar lander.

The company is competing for Google’s Lunar Xprize, which will give whichever firm can land a rover on the moon $30 million (£25 million).

The winner must travel 500 metres on the Moon’s surface and transmit high-definition pictures back to Earth.

Moon Express’s goal is to bring back “precious resources, metals, and moon rocks” to Earth and chief executive Bob Richards, described the space rock as the “unexplored eighth continent”.

“Our goal is to expand Earth’s social and economic sphere to the Moon, our largely unexplored eighth continent, and enable a new era of low cost lunar exploration and development for students, scientists, space agencies and commercial interests,” Mr Richards said in a statement, Florida Today reported.

Moon Express was founded in 2010 by Naveen Jain, Barney Pell and Robert Richards and became the first company to receive US government clearance for a mission to the space rock last year.

It is looking to raise another $10 million as a “contingency” to support any future missions.

The company also has ambitions of establishing low-cost lunar travel to enable science missions and potentially tourist trips.

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Please enter a valid email
Please enter a valid email
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Please enter your first name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
Please enter your last name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
You must be over 18 years old to register
You must be over 18 years old to register
Opt-out-policy
You can opt-out at any time by signing in to your account to manage your preferences. Each email has a link to unsubscribe.

By clicking ‘Create my account’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Join our new commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in