California-based startup Aetherflux is joining the race to harness solar energy directly from space, Bloomberg reported last week. Founded by Robinhood Markets co-founder Baiju Bhatt, the startup aims to send its first pilot satellite to a low-Earth orbit by 2026.

What we know: Aetherflux plans to build a network of satellites that will collect solar energy and transmit it to Earth via infrared lasers. If successful, the project could create a constellation of energy-transmitting satellites similar to Elon Musk’s Starlink for internet communication.

Aetherflux won’t be lonely out there: UK-based startup Space Solar successfully tested its beaming technology demonstrator in April, taking one step closer to harnessing solar energy from space. The company’s Harrier demonstrator is the world’s first 360° wireless power transmission system – a core component of Space Solar’s satellite tech – enabling the transmission of power in all directions without the need for moving parts. Scientists from the California Institute of Technology (Caltech) also confirmed in July 2023 that a prototype solar power satellite could collect the sun's energy and transmit it to Earth after six months of launching the Space Solar’s demonstrator.

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