ConsenSys, the ethereum-based venture study, has just acquired Planetary Resources, a space business that hopes to extract asteroids.
Planetary Resources announced Wednesday that ConsenSys conducted an asset-acquisition transaction, taking over the company, with chairman and CEO Chris Lewicki and general counsel Brian Israel joining the ethereum-focused startup. The terms of the agreement were not disclosed.
The company, established in 2012, was launched in the objective of extracting asteroids for resources.
Until today, it has launched a pair of satellites in the Earth orbit, including a successful test of an infrared imager on its Arkyd-6 vessel. However, according to Geekwire, the company had financial difficulties after failing to secure a new round of financing last June.
On Wednesday, ConsenSys founder Joe Lubin said he admired Planetary Resources thanks to his record and talent. The acquisition will now help ConsenSys conduct its space initiatives, he said, adding:
"Bringing the capabilities of deep space into the ConsenSys ecosystem reflects our belief in the potential of Ethereum to help humanity create new systems of social rules through automatic trust and guaranteed execution and reflects our conviction to democratize and decentralize the efforts of space to unite our species and unblock untapped human potential. "
In a statement, Lewicki said he was "proud of our team's outstanding achievements" and thanked the company's previous supporters. Going forward, Planetary Resources will continue its work "to expand the sphere of economic influence of humanity in the solar system".
"Over the course of nearly a decade, Planetary Resources pioneered technology, business, law and politics, and brought the promise of space resources irreversibly closer to the reach of humanity," he added. .
Asteroid image through Shutterstock