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Planetary Resources Secures Funding for Earth Observation

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Asteroid mining company Planetary Resources Inc. has secured $21.1 million in Series A funding to deploy and operate Ceres, an advanced Earth observation business.

Planetary Resources’ president and CEO Chris Lewicki with the Arkyd 6 spacecraft before delivery to the launch pad.
Planetary Resources’ president and CEO Chris Lewicki with the Arkyd 6 spacecraft before delivery to the launch pad. Courtesy of Planetary Resources.

Ceres is set to use the first commercial IR and hyperspectral sensor platform to better understand and manage natural resources. It will leverage Planetary Resources' Arkyd spacecraft to deliver affordable, on-demand Earth intelligence of natural resources on any spot on the planet. While typical satellite imagery provides only a picture, Ceres will provide actionable data with higher spectral resolutions by measuring thermographic properties and detecting the composition of materials on Earth's surface.

The funding was led by Bryan Johnson and the OS Fund, joined by Idea Bulb Ventures, Tencant, Vast Ventures, Grishin Robotics, Conversion Capital, The Seraph Group, Space Angels Network and Larry Page.

A rendering of the Arkyd 6 spacecraft in orbit.
A rendering of the Arkyd 6 spacecraft in orbit. The mission will validate the thermographic sensor and supporting technologies for the company’s prospecting missions. Courtesy of Planetary Resources.

"As we continue toward our vision of the expansion of humanity and our economy into the solar system, our team has been working on the critical technologies required to detect and identify the most commercially viable near-Earth asteroids and their resources," said Chris Lewicki, president and CEO of Planetary Resources. "To characterize these resources, it required more than just a picture, and our team has developed advanced spectral sensors to serve this need. We have also created new technologies for on-board computing, low-cost space platforms and are now applying these transformative technologies in additional markets."
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Published: June 2016
Glossary
hyperspectral imaging
Hyperspectral imaging is an advanced imaging technique that captures and processes information from across the electromagnetic spectrum. Unlike traditional imaging systems that record only a few spectral bands (such as red, green, and blue in visible light), hyperspectral imaging collects data in numerous contiguous bands, covering a wide range of wavelengths. This extended spectral coverage enables detailed analysis and characterization of materials based on their spectral signatures. Key...
infrared
Infrared (IR) refers to the region of the electromagnetic spectrum with wavelengths longer than those of visible light, but shorter than those of microwaves. The infrared spectrum spans wavelengths roughly between 700 nanometers (nm) and 1 millimeter (mm). It is divided into three main subcategories: Near-infrared (NIR): Wavelengths from approximately 700 nm to 1.4 micrometers (µm). Near-infrared light is often used in telecommunications, as well as in various imaging and sensing...
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