Robinhood Founder's Energy Venture: A Revolution in the Making?

A Former Robinhood Executive's Bold Venture into Space-Based Solar Power

Baiju Bhatt, formerly the chief creative officer at Robinhood, has embarked on a surprising new endeavor: establishing a space company centered around technology largely overlooked by the aerospace sector. This technology potentially represents a significant advancement with far-reaching implications.

Aetherflux: Challenging Conventional Aerospace Approaches

Bhatt, who co-founded the trading app in 2013 after completing his master’s degree in mathematics at Stanford, welcomes the current lack of widespread attention. This limited focus translates to reduced competition for his new company, Aetherflux. The company has secured $60 million in funding to demonstrate the feasibility of transmitting solar power from space, a concept poised to redefine both renewable energy and national security.

From "Aspiring" to "Space Company"

“Becoming a true ‘space company’ requires actual operations in space, rather than simply aspiring to be one,” Bhatt stated at a TechCrunch StrictlyVC event in Menlo Park. He emphasized his desire to swiftly transition Aetherflux from the former to the latter.

Inspired by a NASA Scientist Father

Bhatt’s fascination with space dates back to his childhood. His father, an optometrist in India, dedicated a decade to applying for graduate physics programs in the United States before ultimately joining NASA as a research scientist.

Reverse Psychology and a Path to Physics

According to Bhatt, his father employed a unique tactic to encourage his interest in physics. “My dad explicitly stated he wouldn’t encourage me to study physics,” Bhatt explained, “which proved remarkably effective in motivating me to pursue it.”

A New Chapter, Building on Past Success

Now, at an age comparable to when his father joined NASA, Bhatt is initiating his own space venture, aiming for an impact potentially exceeding that of Robinhood.

This undertaking represents a substantial commitment and a significant opportunity.

Reimagining Space Solar Power

Conventional space solar power concepts have centered on large geostationary satellites and microwave transmission. Bhatt identified the scale and complexity of these projects as the reason they have remained perpetually “20 years away.” He described these designs as being excessively large, comparable in size to a small city, and thus, unrealistic.

Aetherflux's Innovative Approach: Fiber Lasers

Aetherflux proposes a more compact and agile solution. Instead of complex microwave antennas, their satellites will utilize fiber lasers to convert solar energy into focused light, precisely directed at receivers on the ground.

The Technology Explained

“We convert solar power collected by solar panels into light using diodes,” Bhatt clarified. “This light is then transmitted through a fiber optic cable to a laser, enabling precise targeting of receivers on Earth.”

Demonstration Satellite Launch Planned

The company intends to launch a demonstration satellite in June of the following year.

Prioritizing National Security

While envisioning a future as a large-scale energy provider, Bhatt is initially focusing on national defense. The Department of Defense has already provided funding for Aetherflux’s program, recognizing the strategic advantage of delivering power to forward operating bases without the logistical challenges of fuel transport. “This capability enhances the U.S.’s energy independence in the field,” Bhatt noted.

Precision Targeting Capabilities

Aetherflux aims for remarkable precision, initially targeting a laser spot exceeding 10 meters in diameter on the ground. Bhatt believes they can refine this to between five and ten meters, potentially even smaller. These receivers would be lightweight and portable, posing minimal risk if captured by adversaries.

Why Now? An Outsider's Perspective

The question arises: why hasn’t this approach been implemented sooner? A 2007 study highlighted the potential of this technology and recommended further research, but no action was taken. Bhatt believes an outsider’s perspective is crucial for seizing such overlooked opportunities. He draws inspiration from Elon Musk, who has demonstrated success across multiple industries.

High Stakes in Space Hardware

Bhatt acknowledged the higher stakes inherent in space hardware compared to the iterative software development approach of companies like Robinhood. A satellite launch represents a single opportunity for success. “Once the spacecraft detaches, it must function flawlessly; there’s no opportunity for in-space repairs,” he emphasized.

A "Hardware-Rich" Approach to Risk Mitigation

To mitigate risks, Aetherflux is adopting a “hardware-rich” approach, involving extensive component building and testing alongside design refinement. “The key is to avoid prolonged development cycles,” Bhatt stated, “as time is a critical factor.”

Beyond Military Applications: A Future of Renewable Energy

Bhatt envisions space-based solar power providing baseload renewable energy – a consistent power source, regardless of time or location. This could revolutionize energy distribution, powering remote areas without extensive infrastructure and providing emergency power during disasters.

Building a Talented Team

Aetherflux has assembled a team of physicists, mathematicians, and engineers from leading institutions like Lawrence Livermore Labs, Rivian, Cruise, and SpaceX. The 25-person organization is actively recruiting. “We seek individuals passionate about tackling exceptionally challenging problems,” Bhatt encouraged.

Significant Personal Investment

Bhatt has personally invested $10 million in Aetherflux and contributed to a subsequent $50 million round led by Index Ventures and Interlagos.

An Aggressive Timeline

The company’s plan to launch a demonstration satellite within one year represents an ambitious and rapidly approaching deadline.

Leveraging Existing Research and Partnerships

Aetherflux’s approach builds upon existing research, including a 2007 study that identified its potential. The company is also collaborating with Dr. Paul Jaffe, a beaming expert at DARPA, who Bhatt described as a valuable partner. DARPA serves as a bridge between military applications and commercial viability.

The Government's Role in Space Innovation

“Collaboration with the government is essential for space innovation,” Bhatt stated. “However, as technology matures and access to space becomes more affordable through initiatives like SpaceX’s Starship, this technology will extend beyond defense applications.”