Polis Administration Secures Asteroid Mining Company for Denver Expansion

Today, the Polis Administration and the Global Business Development Division of the Colorado Office of Economic Development and International Trade (OEDIT) announced that space resources startup Karman+ has selected Denver for relocation from the Netherlands. The Karman+ team is working to enable the mining of near-earth asteroids for mineral resources that are carbon neutral and sustainable. 

“As Colorado's technology and aerospace industries continue to boom, we are thrilled to welcome innovative companies like Karman+ to Denver, one mile closer to space. This exciting move will bring 150 new good-paying jobs to Colorado as we continue to work to change the future of space exploration and sustainable energy,” said Governor Polis. “I believe Colorado is the best place to live, work and do business and this is clear as more companies choose to move or grow here."

The company’s mission is to mine near-Earth asteroids to provide abundant, sustainable energy and resources for the space economy. The first stage of development is focused on the process of mining for water. The tailings from mining will form the basis for the building of space-based solar power systems that will allow them to deliver electrical power in space and on Earth as non-intermittent sustainable electricity. In selecting Colorado, Karman+ sought a state and national regulatory environment more conducive to advancing the development of space resources. The company is also excited about the potential for critical collaboration with higher education institutions, as well as the quality of life Denver will offer Karman+ employees.

““We embrace adventure as a core value and it's apparent that Colorado shares this spirit of adventure as well. The State of Colorado and the City of Denver have shown us their support for space exploration, which benefits not only us but an ecosystem of companies, research institutions, and organizations in the space domain with whom we hope to partner. We already knew Colorado is a great place to live; we are now convinced that it's the right place to grow our business and find our people,”” said Daynan Crull, Co-Founder of Karman+.

The company has chosen Denver for its headquarters and expects current employees to begin moving to Denver in late 2022. Karman+ is actively hiring. 

“OEDIT and the state of Colorado are committed to maintaining a business-friendly climate and a Colorado economy that works for everyone. Cutting-edge businesses like Karman+ are part of that ecosystem, advancing future technologies and the state’s economy,” said Pat Meyers, OEDIT Executive Director. 

"The addition of companies like Karman+ continues to position Colorado as a leader in aerospace,” said Raymond H. Gonzales, President of the Denver Metro Chamber of Commerce and Executive Vice President of the Metro Denver Economic Development Corporation. “The company has all the ingredients they need for growth and success here: outstanding access to talent, customers and a collaborative aerospace community that’s second to none.”  

“When my administration created our Global Business Development Team six years ago, helping to bring good-paying jobs and innovative companies like Karman+ to our community is what we had in mind,” Denver Mayor Michael B. Hancock said. “Denver and our region are fertile ground for these future-looking industries, and we’re proud to welcome Karman+ to the Mile High City.”

Karman+ expects to create 150 new jobs at an average annual wage of $110,620, which is 147% percent of the average annual wage in Denver County. The jobs will include data engineers, marketing roles, and market analysts. The company currently has eight employees, none of whom are based in Colorado yet.

Colorado competed with the United Kingdom and Luxembourg as the new location. The Colorado Economic Development Commission approved up to $1,287,128 in performance-based Job Growth Incentive Tax Credits over an eight-year period to Karman+, originally referred to as Project Cobalt during the OEDIT review process.

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