July 14, 2015

SPACE Act of 2015 Passes in the House (H.R. 2262)

Throughout history, it has been human curiosity driven by the need for resources that pushed humanity to explore. Much like our mission to extract valuable resources from asteroids to fuel an off-Earth economy, the pioneers before us searched for new frontiers to explore and expand into.

But they did not do it alone.

Once exploration to new frontiers began, the government would step in to spur growth by instituting sensible legislation. When the West was settled in search for gold, timber and prosperity, the Homestead Act was not far behind to support the growth in infrastructure and new economies.

Today, the next frontier to be explored for economic prosperity is SPACE. We’re paving the way to the stars with our advances in low-cost technologies, and we believe that the market in space is ripe to bloom.

Our technology demonstration spacecraft, the Arkyd 3R, was deployed from the International Space Station on the 46th anniversary of the launch of Apollo 11, and just a day after Pluto went from a faint point of light to a place in our memory banks. This is an exciting time, and the beginning of an exponential path for our technology, and undoubtedly others in the growing commercial space sector. There is no reason to turn back now . . .

Following the path of history, we are proud to have the support of the United States government in our endeavor. A few weeks ago, Congress showed its support for our industry when it passed The SPACE Act of 2015 (H.R. 2262) in the House.

The SPACE Act of 2015 recognizes the rights of U.S. asteroid mining companies to declare mined asteroid resources as property and creates a process for resolving disputes.  The Senate is currently reviewing a duplicate version of the House language, S. 976.

This law is important for our entire industry and is integral in protecting and supporting U.S. interests as the commercial space sector continues to grow. Planetary Resources is grateful for the leadership shown by the Congress in creating this legislation and we look forward to the President signing the language into law.

Our industry depends on your support, and the continued support of the United States government. Show the world YOUR support in the comments, and online, using #TheSPACEAct.

-Peter/Eric/Chris

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