Robinhood Co-Founder Launches Space-Based Solar Power Startup Called Aetherflux

Robinhood’s co-founder Baiju Bhatt announced this Wednesday that he is launching a new startup called Aetherflux. The company’s mission is to “commercialize space solar power.”

According to the article shared on Medium, Bhatt wants to develop innovative and revolutionary space-based solar technology to reach even remote places with a sustainable approach.

“Our mission is to commercialize space solar power. If we succeed, we unlock a renewable energy source for humanity that can be delivered virtually anywhere,” wrote the billionaire entrepreneur.

Bhatt shared his personal journey in building the investing platform Robinhood, where he served as CEO until 2020. He also mentioned that he stepped away from the startup in March to focus on his new project.

The “audacious” idea to build this company comes from literature. Bhatt explained that he was inspired by Isaac Asimov’s short story “Reason” written in 1941. However, Aetherflux will go for a modern approach applying different techniques to the ones already developed.

“We’re building a constellation of small satellites in Low Earth Orbit, working together to transmit power to many small ground stations,” explained Bhatt. “Instead of transmitting power through microwaves, we’ll use infrared lasers, allowing for higher power output and smaller footprints on Earth. This isn’t your grandfather’s space solar power concept.”

Bhatt expressed his optimism regarding the current space technologies and energy developments and how it’s now cheaper and more advanced, allowing his idea to have more viability. He also noted that with the AI boom, this project could be a potential solution for the growing energy needs. The entrepreneur also shared a link with open positions for those who want to join the project.

According to Forbes, Bhatt’s net worth is around $1.7 billion, and, as reported by TechCrunch, he has invested millions of his own capital in building Aetherflux.