Billionaire Ventures into Space with Groundbreaking Solar Startup: Can This Revolutionize Renewable Energy?

In a bold move towards outer space innovation, Baiju Bhatt, the billionaire co-founder of Robinhood Markets Inc., has launched Aetherflux, a promising new Silicon Valley startup focused on harnessing solar energy from orbit. Following his resignation as the chief creative officer of Robinhood in March, Bhatt is channeling his expertise and wealth—valued at around $2 billion—into this cutting-edge venture.

Aetherflux aims to deploy a network of satellites that will collect solar energy in low-Earth orbit (LEO). The plan involves these satellites transmitting the collected energy back to Earth using infrared lasers. This ambitious project could eventually include thousands of satellites, drawing comparisons to Elon Musk's extensive Starlink internet system.

Bhatt envisions this project as a "constellation for energy," similar to the way Starlink facilitates global communication. He is personally financing the startup, highlighting his commitment to its success. The headquarters of Aetherflux is based in San Carlos, California, and plans are already underway for a test satellite launch by early 2026 onboard a SpaceX rocket, targeting an orbit at approximately 550 kilometers (342 miles) high.

This venture aligns with Bhatt's growing interest in space investments. Notably, he has invested in Apex, a Los Angeles startup that produces standard satellite frameworks and completed its first launch in March. Additionally, last month, he participated in a $6.5 million seed funding round for Reflect Orbital, another space-based solar project that aims to develop reflective mirrors in LEO to channel sunlight to ground-based solar farms during nighttime.

Experts, including Bhatt, recognize the theoretical basis of space-based solar power. Bhatt admits that while the technology holds incredible potential, significant breakthroughs may take time. "As we make it a reality, that’s when the comparisons are going to be a lot more real," he stated, as he envisions a future where solar power access becomes more efficient, eliminating the need for expansive land-use typical of traditional solar farms.

International interest in generating solar power from space is on the rise, with countries like China, Japan, and South Korea also investing in related technologies. However, skepticism persists regarding the feasibility of such advancements in the near future. Henri Barde, a former lead at the European Space Agency, remarked in a recent IEEE column that the optimism around extraterrestrial solar energy needs tempered expectations.

As Aetherflux prepares to launch its satellites, the world watches closely. Could Baiju Bhatt's ambitious plan revolutionize the renewable energy sector and pave the way for a sustainable future powered by the sun—even from space? The countdown to an energy revolution has begun.