A new startup is seriously planning to mine platinum from asteroids

California-based startup AstroForge could start implementing its ambitious plan relatively soon

near-Earth asteroid mining thanks to a rapid influx of seed funding. Discuss

AstroForge, founded by Matt Gialich andJose Acain in January 2022 raised $13 million to be used to advance the company's goal of mining platinum group metals from asteroids.

“The 13 million dollars we justcollected will allow us to expand our test center, hire a few people and complete the first demonstration run,” Gialich said. “The real dream for us is to go into deep space and collect resources from there.”

According to TechCrunch, the company has developeda technique for extracting materials from asteroids with a diameter of 20 to 1500 meters. Instead of landing probes on the surface, the company will break apart asteroids from a distance and collect valuable materials. A demonstration in January 2023, if it takes place, will include the launch of a "processing payload" that will operate on an asteroid sample in orbit.