Its mission and vision is to create an era-defining new solar energy source from space.
“In 12 years, Space Solar will deliver an affordable, scalable and fully renewable new baseload energy technology,” the company says.
“Space-based solar power will accelerate the transition to net zero and provide energy security for partner nations, as global demand grows.
“Ultimately, we will help create a safer and more secure world where clean energy is available to everyone, for the benefit of all life on earth.”
This comes as global electricity demand is expected to double by 2050.
One of Space Solar’s breakthroughs comes in the form of 360° wireless power transmission — a world first.
“This successful test is a really important milestone on the way to making space-based solar power a reality,” says Dr Paul Bate, CEO of the UK Space Agency.