President Obama Signs Law Enabling Commercial Exploration and Use of Space Resources
November 25, 2015 – “The U.S. Commercial Space Launch Competitiveness Act of 2015” (Space Act) was signed into law today by President Barack Obama. Designed to facilitate and catalyze the U.S. commercial space industry, the bill also includes regulations that enable prospecting and development of space resources for the first time. Deep Space Industries (DSI) extends its congratulations to the White House and U.S. Congress on the passage and signing of this historic legislation.
“In the future humanity will look back at this bill being passed as one of the hallmarks of the opening of space to the people,” said Rick Tumlinson, Chair of Deep Space Industries. “Even while surrounded by so much bad news, in the long view of history, it is this sort of positive action that changes civilization, and while much else will not be remembered, the time when we began to unlock the wealth of the solar system for the people of Earth will be seen as a turning point. This bill is an important key to that happening.”
While the Space Act broadly supports U.S. commercial space activities such as those recently carried out by SpaceX and Blue Origin, an important subsection known as Title IV promotes the right of U.S. citizens to engage in commercial exploration for, and commercial recovery of, space resources in accordance with international obligations and subject to supervision by the U.S. government. This will create more certainty and clarity for current and future investors.
“As DSI’s technology and asteroid mining plans advance, it’s good to see the legal environment progressing as well,” said Deep Space Industries’ CEO Daniel Faber. “We are also glad to see that language acknowledging and responsive to international considerations is in the bill, and we look forward to working with our government partners in the U.S. and internationally, to realize the potential of the space frontier.”
The law, originally introduced months ago, underwent extensive re-working and is the result of major inputs from industry, both political parties, both houses of Congress and the Department of State. Aware of its importance, all involved were careful to craft language that respected and supports existing laws such as the Outer Space Treaty (OST) of 1967. It is designed to fulfill the US obligation under the OST and, as such, should lead to other nations beginning to discuss their own versions of the regulations.
“With the enactment of this law, the industry has reached a regulatory tipping point that will facilitate the growth of a global space economy for the benefit all mankind,” said Sagi Kfir, General Counsel for Deep Space Industries. “Furthermore, we strongly believe that the space resource utilization provisions of this law may act as a great starting point to effectively catalyze and promote international discussions on this important topic.”
About Deep Space Industries
Deep Space Industries is an international space resources company, utilizing the most advanced nanosat technologies to realize asteroid mining. To learn more about DSI’s asteroid mining projects, innovative technology, or world-renowned team of experts, please visit: DeepSpaceIndustries.com.