As Revenues Increase Deep Space Industries Gears Up for First Asteroid Mission

Deep Space Industries Comet Water-based SmallSat Propulsion. Credit: Deep Space Industries.

Deep Space Industries is a five year old privately held company spacecraft technology with a long term plan of mining asteroids that has adapted its business for the long game.

At the time the company launched, some people wondered if the idea was crazy. It’s not, but it is hard, and It’s a long game. Deep Space industries (DSI) is still here and apparently has adapted its business plan to meet the challenge and has been working on developing technologies needed for its long term goals but which have commercial appeal now allowing them to generate revenue streams now.

Since the company was formed they’ve sparsely released information. Last year when Daniel Faber, the CEO at the time, left the company, he said not too long afterwards that he was proud of having led the company to sales in the area of $10 million in 2016. That was really the first public acknowledgement of any sales volume.

Asteroid Mining. Credit: Deep Space Industries.

With DSI’s products, most notably Comet, its water-based SmallSat propulsion system set to fly on four customer satellites this year, the company is slowly emerging from the shadows. As well, the company will be shortly announcing its first Series A funding meant to accelerate their Mission 1, a technology demonstration spacecraft which they hope to launch to a near-earth asteroid in 2020.

This week they also announced that they’ve sold another Comet propulsion system to Astro Digital. According to Grant Bonin, Chief Technology Officer, that’s the 34th propulsion unit they’ve sold.

Listen to the podcast for a complete update on DSI’s activities.

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MDA

About Marc Boucher

Marc Boucher
Boucher is an entrepreneur, writer, editor & publisher. He is the founder of SpaceQ Media Inc. and CEO and co-founder of SpaceRef Interactice Inc. Boucher has 18 years working in various roles in the space industry and a total of 25 years as a technology entrepreneur including creating Maple Square, Canada's first internet directory and search engine.

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