Star Catcher Industries ("Star Catcher"), a startup focusing on energy generation in space, has concluded its seed financing round, raising a total of USD $12.25 million to develop the first space-based energy grid.
Given the increasing geographic concentration of customers in low-Earth orbit ("LEO") and the rising need for power, Star Catcher aims to deliver broad solar spectrum energy on demand to each client's spacecraft solar arrays. The popularity of LEO's is due to its close proximity to Earth, which facilitates convenient transportation, communication, observation, and resupply. Being near Earth's surface allows satellites to capture high resolution images and simplifies the transportation of astronauts to and from the International Space Station ("ISS").
Currently, energy demand is outpacing supply due to decreasing satellite launch costs and the limited capacity of existing solar panels and batteries. The novel energy grid will provide higher concentrations of energy than the sun to existing solar arrays. This advancement will address the needs of high-performing, power-intensive applications in space, including space-based communications, orbit computing, remote sensing, human spaceflight, and national security applications.
CEO Andrew Rush stated, "being able to buy power for your spacecraft whenever and wherever you need it in LEO will expand opportunity and accelerate humanity realizing the potential of the second golden age of space." Customers may purchase power on an annual subscription or on an as-needed basis.
The seed funding will be used to validate and demonstrate its power beaming services for customers. Initial ground demonstrations will prove their ability to collect power from the sun and transmit the solar spectrum energy to satellites. Following this, an on-orbit demonstration is planned for late 2025 to showcase the viability of their plans with client satellites. Additionally, Star Catcher intends to utilize the financing to double its 11-person staff.
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