// Brinc, who have established an accelerator program supporting the next generation of Australian CleanTech startups, has chosen a Perth-based space startup as their first Aussie entrant into the program …
As we have reported before, Space Industries is seeking to address the issue regarding the scarcity of Helium-3 on Earth.
“We are delighted to welcome Space Industries as the first program participant in the Brinc program in Australia,” said Tim Heasley, partner & COO of Artesian (the Brinc funding partner in Australia).
“Space Industries is developing an interesting technology to enable utilities to access promising resources for future energies. We look forward to working with Space Industries and Brinc as they start their commercial journey.”
Tim Heasley
Rare Earth
The Helium-3 isotype is unique as it is readily available in space, however it’s rare on Earth. The moon in particular has natural reserves of Helium-3 which Space Industries ultimately seeks to mine.
On Earth, it is produced as a by-product of tritium, which is an isotype of hydrogen used in hydrogen bombs and fusion reactors. The isotope is known for having highly valuable properties.
Helium-3 is used in the medical industry for medical imaging – such as MRI scanners- along with neutron detection, supercooling and as future energies that could replace fossil fuels.
Unlike most nuclear fission reactions, Helium-3 has the advantage that it doesn’t release radioactive waste, making it very attractive as an alternative source of energy.
On the Brinc of Growth
“The Brinc CleanTech accelerator has proven to be an advantage with the support from dedicated global experts and advisors, which has strengthened our business plan and model,” said Joshua Letcher, founder and CEO of Space Industries.
“The funding from Brinc and Artesian will allow the Lunar Resource Extraction Vehicle (LREV) demonstrator to be built over the next few months, taking the company to a whole new level. In the global space industry.
“Our company will be the leader in critical resources from space, and the enabler of future clean energy technologies on Earth.”
Josh Letcher, CEO & Founder of Space Industries
Brinc, who currently operate ten multi-disciplinary accelerator programs across six countries resulting in 131 investments, welcomes startups to the accelerator program on a rolling basis.
Additionally, the program is backed by Artesian Venture Partners, which is Australia’s largest and most active early-stage venture capital firm that focuses on the Asian Pacific region with offices across Australia and Asia.
Each startup accepted into the program receives A$150K with Brinc facilitating agreements between the startup teams and Australian energy companies to help scope and secure pilots. After completing the program, Brinc will continue to support companies like Space Industries with business development and by providing capital raising guidance.
The Artesian Clean Energy Seed Fund aims to invest in scalable, high growth status encouraging innovation and creating opportunities in the development of clean technology by bridging the gap between government, corporates, institutions, NFPs and other late-stage clean energy investors.
“Australia needs more game-changers such as Joshua from Space Industries, to enable its clean energy transition agenda and achieve its Greenhouse gas (GHG) emissions reduction targets. This is why we are supporting startups innovating in the energy field,”
“We are also looking for ways to reduce our environmental impact in sustainable manufacturing and materials, as well as sustainable waste, water and air management.”
Tim Heasley, Partner and COO of Artesian
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Featured Image: Supplied
