After getting the necessary approvals from the Federal Aviation Administration last year, Moon Express began focusing efforts on gathering the funds it needs to land a 20-pound (9 Kg.) package of scientific gear, including a telescope, on the Moon.
This week, representatives for the Florida-based company announced that they have secured $20 million in a new round of Series B funding from private investors, including venture capital firms Founders Fund and Social Capital, and software company Autodesk. The additional resources swelled Moon Express’ coffers with more than $45 million, but its leadership stills wants to raise an extra $10 million as a “contingency.”
This money will allow Moon Express to land its spacecraft on Earth’s only natural satellite and compete for an additional $20 million in funding from the Google Lunar X Prize.
The GLXP requires participants to not only reach the Moon before December 31, 2017, but also to move their vehicles at least 1,640 feet (500 metres) on the lunar surface and send the craft beam high-resolution imagery back to Earth. The funds that they use for their missions must come almost entirely from private sources.
The team that completes the full task, wins the prize.
If that turns out to be the case for Moon Express, the next steps for the company are to start flying commercial flights to the Moon and begin mining Helium-3, which can be used in nuclear fusion reactors.
“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,” Moon Express co-founder and CEO Bob Richards said in a statement.
The company designed and built its MX-1E lander, while aeronautics startup Rocket Lab will be in charge of deploying it when the right time comes.
Moon Express’ MX-1E lander (Image courtesy of Moon Express).
7 Comments
Moon Express
Thank you for a great article. Minor correction: Rocket Lab is our launch provider, but the MX-1E lander is designed and built by Moon Express.
Queen Of Hearts
Moon mining will be disastrous for our entire Solar System. Look at what mining has done to Earth, now you want to destroy our moon? You won’t get away with this. It all starts with a little mining here, a little mining there.. and before you know it..everyone and their brother wants a piece. You wake up and ask “How did we let this happen?”
Caper Nova Scotia
Once the tides start displacing cities…they might consider this a bad idea…lmao
LAMB
Note that MOON EXPRESS is focused on “gathering the funds….” – sounds like a promotional exercise to get $$$
Wasteland Warrior
There is a reason we haven’t been back there since the Apollo missions: the aliens that have structures and bases on the dark side told us to “get lost and don’t come back, or else”… I have a feeling they won’t take kindly to any mining going on… In fact I predict that the Moon Express will somehow be “lost” during the mission… 😉
Ray M
The this tin pot company should be called Blue Moon Mining (Blue Sky..) What a complete croc of BS. Only idiots would think mining the moon could be economic and for non existent “fusion” reactors. Make the Tulip boom and bust of Holland look sensible. Come in spinner.
Dave
The moon will be our launch platform for sending manned missions into our solar system. We will need to mine water on the moon to separate into hydrogen and oxygen for rocket fuel. That will require large amounts of electricity, which can only come from nuclear reactors. Mining Helium-3 is just one step. I, for one, am exited to see it happening.