News Summary

Baiju Bhatt, co-founder of Robinhood, has launched a new venture, Aetherflux, which aims to revolutionize energy by beaming solar power from space. The company has raised $60 million and plans to launch a demonstration satellite next year. Aetherflux’s technology involves using fiber lasers to convert solar energy into focused light, which can be precisely targeted at ground-based receivers. Initially, the company is focusing on national defense applications, with funding from the Department of Defense, as it offers a strategic advantage by providing energy to forward bases without the need for fuel transport. Bhatt draws inspiration from Elon Musk and believes his outsider perspective is an advantage in tackling the aerospace industry’s challenges. Aetherflux is collaborating with DARPA and employing a team of physicists, mathematicians, and engineers, and is still hiring for its 25-person team. The long-term goal is to provide baseload renewable energy globally, potentially transforming energy distribution and offering power to remote locations.