Morning Brew - ☕ The moon and Mars

NASA’s goal: Get humans back on the moon
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Morning Brew August 26, 2022

Emerging Tech Brew

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Happy Friday. Remember the San Francisco boom in e-scooter vandalism, when Bay Area residents showed their distaste by burning them, wrecking them, and submerging them in water?

The crusade against the vehicles has resurfaced across the pond: An electric bikeshare fleet in Bristol was suspended due to months of vandalism.

In today’s edition:

NASA shoots for the moon and Mars

A carbon-removal gamechanger

Jordan McDonald, Grace Donnelly

SPACE

Count your lucky Mars

NASA hat on Mars planet Illustration: Dianna “Mick” McDougall, Sources: Getty Images

At the dawn of the space industry, there wasn’t a space industry: There was the government.

The early days of American space exploration were dominated by the federal government, with the main goal of beating the Soviet Union into orbit, and eventually the moon.

As the industry evolved and NASA’s budget shrunk, private companies stepped into the fold.

Having already gone to the moon, NASA set its sights…higher, which has contributed to an ongoing boom in the space industry—growing to $469 billion in 2021—while also allowing NASA to focus on ambitious goals like Moon and Mars missions.

‘Tectonic shift’

Bhavya Lal, NASA associate administrator for technology, policy, and strategy, told us this represents a “tectonic shift” in the way that NASA conducts itself, and pointed to the upcoming Artemis moon missions as a demonstration of what NASA can now focus on. Artemis I takes off August 29.

“We now have an opportunity to work as a catalyst that accelerates innovation both in-house and outside, growing the space economy and leveraging outcomes to meet NASA’s objectives,” Lal said.

  • Those objectives include Artemis, mining water on the moon, providing power and other amenities to NASA astronauts and other space tourists, and developing future Mars missions, she added.

NASA’s goal: Get humans back on the moon for the first time since the 1972 Apollo 17 mission, by way of its Artemis missions. The first Artemis missions will test the cislunar orbit around the moon and the flight path to get there, and subsequent missions will focus on building a future orbital station and lunar base.

Dallas Kasaboski, consultant at Northern Sky Research, told us that NASA’s collaborations have been a massive boon to the industry, as contracts for lunar missions through NASA’s Commercial Lunar Payload Services (CLPS) program have more than doubled from 125 to more than 250 over the next decade.

  • The firm expects business on and servicing the moon to become a $105 billion industry by 2032.

“The hope is for continued and growing human presence in deep space, driven by governments, supported by commercial players, and potentially later on for commercial players to have a stronger space in that market, where there’s continued presence at or around the moon driven by commercial players, not just government programs,” Kasaboski said.

Read the full story here.—JM

        

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CLIMATE TECH

CO2 and 45Q

Image of direct air capture plant Illustration: Dianna “Mick” McDougall, Photo: Climeworks

Few parts of the tax code spark excitement for businesses, but the Inflation Reduction Act (IRA) that President Biden signed into law last week includes a game-changer for carbon removal.

“This is exactly the type of policy that we’ve been hoping to have for tech CDR [carbon dioxide removal] for a long time,” Peter Minor, director of science and innovation at Carbon180, told us.

Known as 45Q (the name of its section in the tax code), the tax credit for carbon sequestration has been in place for more than a decade, but the industry has argued it could be expanded to incentivize development of emerging tech in the space.

What’s new?

The IRA increases the value of the tax credit for companies that meet certain labor requirements. The maximum credit available for industrial carbon capture increased from $50 to $85 per tonne of CO2 and from $50 to $180 per tonne for DAC.

  • It also decreases the scale necessary for DAC projects to qualify for the 45Q tax credit from 100,000 metric tons of CO2 per year to 1,000 tonnes.
  • Additionally, it extends the deadline for a project to qualify to 2033, giving new projects more time before they have to begin construction.

These changes give smaller DAC companies an opportunity to benefit from federal support as the industry works to scale from removing thousands of tonnes of CO2 each year to billions of tonnes annually.

Big picture: While the US lags behind China and the European Union on metrics like battery manufacturing capacity and renewable energy installations, DAC is one industry where the country could emerge as a leader. In addition to this tax credit, the US Department of Energy has $3.5 billion of funding from the bipartisan infrastructure law to build four DAC hubs and large corporations are committing to significant carbon removal purchase agreements.

Read the full story here.—GD

        

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Wheels up on EV stocks. EVs are the fastest-growing car segment, tripling their share of the global car market since 2019. EVs could also experience accelerated demand from the Inflation Reduction Act, which includes tax credits, government EV purchases, and grants for EV facilities. Now may be the time to consider investing in electric and autonomous vehicles with iShares ETFs.

        

BITS AND BYTES

Creative graphic of robotic process automation at work (with a physical robot) Francis Scialabba

Stat: 8 in 10 executives believe “automation can be applied to any business decision,” according to a recent Gartner survey.

Quote: “California will now be the only government in the world that mandates zero-emission vehicles.”—Margo Oge, former lead of the EPA’s transportation emissions program, to the New York Times

Read: A Q&A with Lynne Parker, the outgoing first director of the White House’s National Artificial Intelligence Initiative Office, about the potential AI policy to come.

WHAT ELSE IS BREWING

  • Happy Health unveiled the “Happy Ring,” a wearable ring designed to capture users’ mood and relay it back to them, which the company claims can help track mental health.
  • California will prohibit the sale of new gasoline-powered cars by 2035.
  • Apple announced plans to unveil the iPhone 14 and three new Apple Watch models in early September.
  • France is paying drivers €4,000 to trade in their cars for e-bikes in an effort to reduce pollution.
  • On September 29, we’re (virtually) convening hundreds of business leaders and innovators to discuss pressing technologies across food, energy, and health. You can now join the event and hear from speakers including Mark Cuban for zero cost. Click here to RSVP.

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GOING PHISHING ANSWER

Sadly, Boston has announced no such pedestrian policy.

 

Written by Jordan McDonald and Grace Donnelly

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