Some big money investors are reportedly behind a new venture that will be unveiled Tuesday in Seattle to mine asteroids. The company, called Planetary Resource, has as its business model extracting minerals and other resources from asteroids, which the company's founders say could add "trillions" to the global GDP.
If nothing else, the start-up venture has some big capital behind it. The founders of the company include Avatar director James Cameron, as well as several executives from Google, including its executive chairman Eric Scmidt and co-founder Larry page. Other investors include Peter Diamandis, who is the entrepreneur behind the X-Prize. Other Google and Microsoft heavyweights are reported to be in on the deal.
Reuters reports that the investment group plans to unveil the company on Tuesday at the Museum of Flight in Seattle. According to a news release announcing the roll-out, "This innovative start-up will create a new industry and a new definition of 'natural resources.'" (NASA Image)