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Planetary Resources Applauds U.S. Congress in Recognizing Asteroid Resource Property Rights

Press Release From: Planetary Resources
Posted: Tuesday, November 10, 2015

Planetary Resources, Inc., the asteroid mining company, praises the members of Congress who promoted historic legislation (H.R. 2262) that recognizes the right of U.S. citizens to own asteroid resources they obtain as property and encourages the commercial exploration and recovery of resources from asteroids, free from harmful interference.

This legislation creates a pro-growth environment for the development of the commercial space industry by encouraging private sector investment and ensuring a more stable and predictable regulatory regime. This law is important for the industry and is integral to protecting and supporting U.S. interests as the commercial space sector continues to expand.

“We are proud to have the support of Congress. Throughout history, governments have spurred growth in new frontiers by instituting sensible legislation. Long ago, The Homestead Act of 1862 advocated for the search for gold and timber, and today, H.R. 2262 fuels a new economy that will open many avenues for the continual growth and prosperity of humanity. This off-planet economy will forever change our lives for the better here on Earth,” said Chris Lewicki, President and Chief Engineer, Planetary Resources, Inc.

"Planetary Resources is grateful for the leadership shown by Congress in crafting this legislation and looks forward to President Obama signing the language into law. We applaud the members of Congress who have led this effort and actively sought stakeholder input to ensure a vibrant economy and prosperous way of life now and for centuries to come. Patty Murray (D-WA), Kevin McCarthy (R-CA), Bill Posey (R-FL) and Derek Kilmer (D-WA) have been unwavering in their support and leadership for the growth of the U.S. economy into the Solar System. Their forward-looking stance and active role in enabling the development of an economically and strategically valuable new marketplace will ensure our country’s continued leadership in space,” said Peter Marquez, Vice President of Global Engagement, Planetary Resources, Inc.

Senator Murray said, “I am glad that we’ve taken this important step forward to update our federal policies to make sure they work for innovative businesses creating jobs in Washington state. Washington state leads in so many ways, and I’m proud that local businesses are once again at the forefront of new industries that will help our economy continue to grow.”

Congressman Posey said, “This bipartisan, bicameral legislation is a landmark for American leadership in space exploration. Recognizing basic legal protections in space will help pave the way for exciting future commercial space endeavors. Asteroids and other objects in space are excellent potential sources of rare minerals and other resources that can be used to manufacture a wide range of products here on Earth and to support future space exploration missions. Americans willing to invest in space mining operations need legal certainty that they can keep the fruits of their labor, and this bill provides that certainty.”

Congressman Kilmer said, “The commercial space industry in Washington state is leading the way in developing the cutting edge technology necessary to support human space exploration. The U. S. Commercial Space Launch Competitiveness Act will give these ventures the framework they need to continue to innovate, and to keep the United States at the head of this growing, global industry. I congratulate the Senate for taking this step, and I look forward to the House quickly sending this bill to President Obama’s desk.”

Eric Anderson, Co-Founder and Co-Chairman, Planetary Resources, Inc., said, “Many years from now, we will view this pivotal moment in time as a major step toward humanity becoming a multi-planetary species. This legislation establishes the same supportive framework that created the great economies of history, and it will foster the sustained development of space.”

About Planetary Resources
Planetary Resources, Inc., the asteroid mining company, was founded in 2009 by Eric Anderson and Dr. Peter H. Diamandis. Our vision is to establish a new paradigm for resource utilization that will bring the Solar System within humanity’s economic sphere of influence. The company will conduct low-cost robotic space exploration beginning with the Arkyd series of space missions that will identify the most commercially viable near-Earth asteroids. These initial missions will assist the company in enabling the retrieval of raw materials from these select asteroids, including water, precious metals and more.

Planetary Resources’ pathway in identifying the most commercially viable near-Earth asteroids has led to the development of transformative technologies that are applicable to several global markets. The company is financed by industry-launching visionaries, three of whom include Google’s CEO Larry Page & Executive Chairman Eric Schmidt; and Ross Perot, Jr., Chairman of Hillwood and The Perot Group; who are committed to expanding the world’s resource base so humanity can continue to grow and prosper for centuries to come. Some of the company’s partners and advisors include the Bechtel Corporation; film maker and explorer James Cameron; former Chief of Staff, United States Air Force General T. Michael Moseley (Ret.); Sara Seager, Ph.D., professor of Planetary Science & Physics at MIT and TED fellow; and Dante Lauretta, Ph.D., professor of Planetary Science at the University of Arizona and principal investigator of NASA’s OSIRIS-REx mission. Members of the company’s technical staff have worked on every recent U.S. Mars lander including Spirit, Opportunity and Curiosity, and include other key non-aerospace and safety-critical disciplines. For more information, please visit www.planetaryresources.com.

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