Space companies are driving the search for high-tech energy solutions. 

Head of the Australian Space Agency, Enrico Palermo, has emphasised the importance of space technology in the push to find more lithium deposits to power the electrification shift. 

According to Mr Palermo, the existing infrastructure in space is a role model for an electrified future on Earth. 

“Everything in space is electrified in one way or another,” he says. 

Despite the challenges posed by inflation in specialist raw materials and hi-tech avionics used in the industry, the space sector generally offers a better risk-reward opportunity in tougher economic times. 

Mr Palermo believes this is because investors are competing for returns that outdo earth-based applications of technology or exploration. 

“It's been quite resilient to economic shocks,” he said.

Space companies are big users of lithium, semiconductors and battery minerals, but are also enhancing the search for more critical minerals prospects. 

Fleet Space Technology is one such company, with investors including Artesian Venture Partners, Blackbird Ventures, and Grok Ventures. 

The company has developed technology that speeds up the search for lithium deposits, using a nano-satellite system in space connected to ground sensors which “scan” the earth for the most likely spots for lithium and rare earth minerals. 

This technology speeds up the exploration process by a factor of 100 compared to traditional methodical drilling of prospects.

According to Mr Palermo, the Artemis program to bring humans back to the moon by 2025 will accelerate technology and space engineering efforts. 

The Artemis Accords, of which Australia is a signatory, have the ultimate ambition of interplanetary exploration.

Mr Palermo also spoke about the practical problems in basic civil engineering projects that need to be solved for the moon to become the launchpad for the exploration of other planets. 

“How do you make bricks out of lunar soil?” he said. 

An Australian lunar rover, called the Trailblazer, will be deployed, most likely in 2026, to extract lunar dust as part of the overall program.

Mr Palermo will be speaking next month at an Austmine conference in Adelaide, where he will discuss the practicalities of space exploration and the importance of space technology in driving the electrification shift.