Planetary Resources

High-Level Overview

Planetary Resources was a pioneering space technology company focused on developing technologies for asteroid mining to expand Earth's resource base through robotic exploration and extraction of materials like water and precious metals from near-Earth asteroids.[1][2] Initially rebranded from Arkyd Astronautics in 2012, it planned to start with low-cost space telescopes (Arkyd 100 Series) for Earth observation and astronomy, using these to survey asteroids before advancing to prospecting probes and full mining operations.[1][2][3] The company served potential customers in Earth observation while targeting the broader problem of resource scarcity by enabling sustainable extraction for space propellant, industrial metals, and terrestrial applications like electronics and fuel cells.[1][4]

Despite early hype and billionaire backing, Planetary Resources ceased operations in 2018 after failing to secure critical funding, leading to layoffs and the indefinite delay of its first asteroid mission originally slated for 2020.[1]

Origin Story

Planetary Resources originated as Arkyd Astronautics, founded on January 1, 2009, by Eric C. Anderson and Dr. Peter H. Diamandis, with Chris Lewicki joining as a key figure and later becoming President and CEO.[1][2][3][5] Diamandis, known for X Prize Foundation, and Anderson, a space industry veteran, conceived the idea amid growing interest in space resources, operating in stealth mode until publicly revealing asteroid mining ambitions in 2012.[1][3][5] Early traction came from high-profile investors like Google co-founders Larry Page and Eric Schmidt, Ross Perot Jr., Charles Simonyi, and advisers including James Cameron, former NASA astronaut Tom Jones, and MIT's Sara Seager.[2][3][4][5]

Headquartered in Redmond, Washington, the company built a team with expertise from Mars missions and non-aerospace fields, raising significant funding and developing initial tech like mid-wavelength infrared sensors for asteroid scouting.[3][6] Pivotal moments included the 2012 rebrand and announcement at Seattle's Museum of Flight, positioning it as a leader in commercial space resource utilization.[1][4]

Core Differentiators

• Asteroid-Focused Tech Stack: Developed Arkyd 100 Series small (30-50 kg) telescopes with laser-optical communications for reduced mass, enabling cost-effective Earth observation and asteroid surveying as a stepping stone to mining.[1][2]
• Resource Identification Expertise: Created commercial mid-wavelength infrared sensors to detect water and thermal signatures on asteroids, providing detailed data beyond traditional imaging for prospecting near-Earth targets (about 100-150 water-rich ones easier to reach than the Moon).[3][4]
• Phased Robotic Approach: Planned progression from orbital telescopes, to survey probes for mapping/sampling, to automated mining swarms extracting water for propellant and platinum-group metals, emphasizing ultra-low-cost exploration.[1][2][5]
• Elite Network and Backing: Supported by visionary investors (e.g., Page, Schmidt, Branson) and advisers with deep space/military expertise, accelerating tech development despite no near-term revenue from mining.[2][3][4]

Role in the Broader Tech Landscape

Planetary Resources rode the early 2010s commercial space boom, fueled by falling launch costs and NewSpace innovators like SpaceX, positioning asteroid mining as an "anchor industry" to fuel solar system expansion amid Earth's resource limits.[2][4][5] Its timing capitalized on ~8,900 known near-Earth asteroids with high-value metals (potentially $15 quintillion market) and water for in-space refueling, addressing terrestrial shortages in platinum for catalysts and electronics.[1][4][5]

The company influenced the ecosystem by normalizing robotic resource utilization, inspiring followers like AstroForge, and proving dual-use tech (e.g., sensors for Earth imaging).[3] Market forces like investor enthusiasm for space tech worked in its favor initially, but high capital needs and tech risks highlighted challenges in deep-space commercialization.[1]

Quick Take & Future Outlook

Planetary Resources' bold vision ultimately faltered on funding realities in 2018, marking it as a cautionary tale for space startups chasing decade-long horizons like asteroid mining.[1] Its legacy endures in advanced sensors and the validated concept of near-Earth prospecting, paving the way for revived efforts amid maturing reusable rockets and lunar economies.

Looking ahead, successors may succeed where it stalled, driven by trends like orbital manufacturing and Artemis program demand for space resources—potentially unlocking billions in annual economic value as launch costs drop further.[5] While the company is defunct, its "expand Earth's resource base" ethos ties back to the high-level dream of sustainable space utilization, now closer to reality in today's accelerating NewSpace race.[1][2]