Astroforge

The firm's core business revolves around identifying and extracting platinum-group metals from near-Earth asteroids. These metals are critical for various terrestrial applications, including catalytic converters and the production of green hydrogen, but their supply on Earth is finite and geographically concentrated. By sourcing these materials from space, AstroForge aims to address potential supply chain vulnerabilities and support the transition to a green economy. The business model is predicated on launching its own spacecraft to prospect, identify, and ultimately retrieve materials from these asteroids.

AstroForge has developed proprietary technology to achieve its objectives, including an on-board refinery designed to process asteroid material in-situ. This process involves vaporizing the asteroid material and using a magnetic field to separate the valuable metals. The company has already launched two test missions. The first, Brokkr-1, launched in April 2023, aimed to demonstrate the refining technology in a zero-gravity environment. The second mission, Brokkr-2, launched in May 2024, is currently en route to a near-Earth asteroid to perform a high-resolution flyby, which will provide crucial data on the asteroid's composition and surface characteristics. These missions represent significant steps in validating the company's technology and operational capabilities before undertaking a full-scale retrieval mission.