Latest news with #JohnThornton
Yahoo
30-05-2025
- Business
- Yahoo
Astrobotic Xodiac rocket crashes in the Mojave, CEO says won't impact lunar landing mission
North Shore-based aerospace company Astrobotic Technology Inc.'s Xodiac rocket crashed in the Mojave Desert. The terrestrial rocket has been used by the company for 10 years to conduct test flights. During flight 176, the vehicle detected an anomaly on descent, leading to it crashing and its ultimate destruction. No one was injured, and the test site itself is undamaged. RELATED COVERAGE >>> Channel 11 speaks with Astrobotic CEO after Peregrine mission 'We're disappointed, but we're also not terribly surprised, and we're really proud of what this vehicle was able to accomplish over its 10-year lifetime,' CEO John Thornton said. 'For any flying vehicle, that's a pretty darn good service record, I mean, there are even cars that sometimes don't last 10 years, so it certainly did what it needed to do during its service life.' Click here to read more from our partners at the Pittsburgh Business Times. Download the FREE WPXI News app for breaking news alerts. Follow Channel 11 News on Facebook and Twitter. | Watch WPXI NOW
Yahoo
07-04-2025
- Business
- Yahoo
Barrick Gold proposes rebranding to reflect focus on copper
Barrick Gold has proposed dropping gold from its name and rebranding to Barrick Mining to reflect its push into copper operations. In the 2025 Information Circular, Barrick Gold chairman John Thornton said this move is aimed at reflecting its 'changing production profile'. For several years, CEO Mark Bristow has expressed his ambition to expand the company's copper operations, reported Bloomberg. Barrick Gold is currently progressing its portfolio of growth projects towards a planned 30% increase in gold equivalent ounces by the end of 2030. According to Thornton, despite facing a difficult operating environment, Barrick achieved the goals it established for 2024. The company met its production targets for both gold and copper, upheld its record of reserve replacement and significantly expanded its resource base. The company enhanced its financial performance despite rising costs, achieving a 69% increase in net earnings, said to be its highest in a decade. Furthermore, it saw a 20% growth in operating cash flow and a doubling of free cash flow in 2024 as against 2023. 'At the same time, we developed our portfolio to achieve sustainable production and profitable growth. We continued to ramp up Pueblo Viejo, started prefeasibility work at Fourmile and restarted the Porgera mining operation. We completed feasibility studies for Reko Diq [in Pakistan], one of the world's largest undeveloped copper-gold deposits, and the Lumwana Expansion project [in Zambia], which will become one of the world's largest copper mines,' said Thornton. Both the projects are expected to contribute to the company's objective of organically increasing its production volumes, especially in copper. Despite the increase in metal prices, mining equities, including Barrick's, have not performed as well as expected, Thornton said, adding: 'We viewed our equity as undervalued and consequently repurchased $498m of shares in 2024 and we will continue to pursue share buybacks whenever we believe our shares are trading below their intrinsic value.' 'We have an industry-leading balance sheet, substantial liquidity and a global portfolio of Tier One assets. These qualities, along with our fully funded pipeline of organic growth projects, put us on track to grow the company and increase per-share returns over the long term,' he added. Meanwhile, the board has appointed new chairs for the company's key committees, with Isela Costantini leading the Compensation Committee, Loreta Silva heading the Audit & Risk Committee and Brian Greenspun chairing the Environmental, Social, Governance & Nominating Committee. Last week, mining services company Capital secured a material mining services contract for the Reko Diq gold and copper mining project. "Barrick Gold proposes rebranding to reflect focus on copper" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
04-04-2025
- Business
- Yahoo
Future-Focused Barrick Sets Sights on 30% Production Growth by 2030
TORONTO, April 04, 2025 (GLOBE NEWSWIRE) -- Having laid the foundation to build the world's most valued gold and copper company, Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) is now advancing its portfolio of growth projects to support a planned 30% growth in gold equivalent ounces by the end of the decade1, says chairman John Thornton. In the company's 2025 Information Circular, published today and available at as well as filed on SEDAR+ ( and EDGAR ( Thornton said that despite a challenging operating environment, Barrick delivered on the goals it set for 2024, meeting its gold and copper production guidance and maintaining its unmatched record of reserve replacement while adding substantially to its resource base. 'We improved our financial performance, despite higher costs, with an increase in net earnings of 69% — the highest in a decade — operating cash flow growth of 20%, and a doubling of free cash flow2 relative to 2023,' he says. 'At the same time, we developed our portfolio to achieve sustainable production and profitable growth. We continued to ramp up Pueblo Viejo, started prefeasibility work at Fourmile, and restarted the Porgera mining operation. We completed feasibility studies for Reko Diq, one of the world's largest undeveloped copper-gold deposits, and the Lumwana Expansion project, which will become one of the world's largest copper mines. Both projects will support our goal to organically grow our production volumes, particularly in copper, and as such we are proposing to change our name from Barrick Gold Corporation to Barrick Mining Corporation, to reflect the company's changing production profile.' Thornton noted that despite rising metal prices, mining equities have underperformed, with Barrick no exception. 'We viewed our equity as undervalued and consequently repurchased $498 million of shares in 2024 and we will continue to pursue share buybacks whenever we believe our shares are trading below their intrinsic value.' 'We have an industry-leading balance sheet, substantial liquidity and a global portfolio of Tier One assets.3 These qualities, along with our fully funded pipeline of organic growth projects, put us on track to grow the company and increase per-share returns over the long term,' he says. Also in the Information Circular, lead director Brett Harvey says that board renewal remained a priority in 2024, enhancing Barrick's global business expertise to achieve representation that reflects the people and regions integral to its operations. 'During the year, we conducted a rigorous and structured selection process to identify potential board candidates, and we're pleased to nominate Ben van Beurden and Pekka Vauramo for election at this year's Annual and Special Meeting. At the same time, we would like to express our heartfelt gratitude to Christopher Coleman and Andy Quinn, who will retire from the Board,' says Harvey. The Board also appointed new chairs for its key committees: Isela Costantini for the Compensation Committee; Loreta Silva for the Audit & Risk Committee; and Brian Greenspun for the Environmental, Social, Governance & Nominating Committees. Barrick is pleased to host a virtual meeting format for this year's Annual and Special Meeting which shareholders may attend by way of live webcast regardless of their geographic location. The meeting will be held on Tuesday, May 6, 2025 at 10:00 a.m. EDT. Registered shareholders, non-registered (or beneficial) shareholders and their duly appointed proxyholders will be able to participate, ask questions, and vote in 'real time' through the online portal. Enquiries Investor and Media RelationsKathy du Plessis+44 20 7557 7738Email: barrick@ Website: Endnote 1 Gold equivalent ounces calculated from our copper assets are calculated using a gold price of $1,400/oz and copper price of $3.00/lb. Barrick's five-year indicative production profile for gold equivalent ounces is based on the following assumptions: Key Outlook Assumptions 2025 2026+ Gold Price ($/oz) 2,400 2,400 Copper Price ($/lb) 4.00 4.00 Oil Price (WTI) ($/barrel) 80 70 AUD Exchange Rate (AUD:USD) 0.75 0.75 ARS Exchange Rate (USD:ARS) 1,000 1,000 CAD Exchange Rate (USD:CAD) 1.30 1.30 CLP Exchange Rate (USD:CLP) 900 900 EUR Exchange Rate (EUR:USD) 1.10 1.10 Barrick's five-year indicative outlook is based on our current operating asset portfolio, sustaining projects in progress and exploration/ mineral resource management initiatives in execution. This outlook is based on our current reserves and resources and assumes that we will continue to be able to convert resources into reserves. Additional asset optimization, further exploration growth, new project initiatives and divestitures are not included. For the company's gold and copper segments, and where applicable for a specific region, this indicative outlook is subject to change and assumes the following: new open pit production permitted and commencing at Hemlo in the second half of 2025, allowing three years for permitting and two years for prestripping prior to first ore production in 2027; Tongon will enter care and maintenance by 2027; and production from the Zaldívar CuproChlor® Chloride Leach Project (Antofagasta is the operator of Zaldívar). Our five-year indicative outlook excludes production from Fourmile, as well as Pierina and Golden Sunlight, both of which are currently in care and maintenance; and production from long-term greenfield optionality from Donlin, Pascua-Lama, Norte Abierto and Alturas. Barrick's fiveyear production profile in this press release also assumes an indicative gold and copper production profile for Reko Diq and an indicative copper production profile for the Lumwana Super Pit expansion, both of which are conceptual in nature. Loulo-Gounkoto has been excluded from Barrick's 2025 guidance as a result of the temporary suspension of operations. We expect to update our guidance to include Loulo-Gounkoto when we have greater certainty regarding the timing for the restart of operations. For purposes of this indicative five-year forecast only, we have assumed a scenario where Loulo-Gounkoto resumes operations on April 1, 2025. There can be no assurances that a definitive agreement to resolve the ongoing dispute with the Government of Mali will be reached by April 1, 2025 or at all. Refer to page 9 of the MD&A accompanying Barrick's annual 2024 financial statements for additional information. Endnote 2 'Free cash flow' is a non-GAAP financial measure that deducts capital expenditures from net cash provided by operating activities. Management believes this to be a useful indicator of our ability to operate without reliance on additional borrowing or usage of existing cash. Free cash flow is intended to provide additional information only and does not have any standardized definition under IFRS, and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. The measure is not necessarily indicative of operating profit or cash flow from operations as determined under IFRS. Other companies may calculate this measure differently. Further details on this non-GAAP financial performance measure are provided in the MD&A accompanying Barrick's financial statements filed from time to time on SEDAR+ at and on EDGAR at Endnote 3 A Tier One Gold Asset is an asset with a $1,400/oz reserve with potential to deliver a minimum 10-year life, annual production of at least 500,000 ounces of gold and with costs per ounce in the lower half of the industry cost curve. A Tier One Copper Asset/Project is an asset with a $3.00/lb reserve with potential for +5Mt contained copper in support of at least 20 years life, annual production of at least 200ktpa, with costs per pound in the lower half of the industry cost curve. Tier One assets must be located in a world class geological district with potential for organic reserve growth and long-term geologically driven value addition. Cautionary Statement on Forward-Looking Information Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes 'forward-looking statements'. All statements, other than statements of historical fact, are forward-looking statements. The words 'build', 'strategy', 'commitment', 'develop', 'replenish', 'secure', 'transform', 'continue', 'expand', 'grow', ''expand', 'extension', 'invest', 'will' and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: Barrick's partnership philosophy and strategy to invest in sustainably profitable growth; Barrick's forward-looking production guidance and our five and ten-year production profiles for gold and copper; Barrick's global exploration strategy and planned exploration activities; our ability to convert resources into reserves and future reserve replacement; and the anticipated benefits of Barrick's sustainability strategy and focus on increasing workforce and Board diversity our share buyback program; Barrick's future plans, growth potential, financial strength, investments and overall strategy; and expectations regarding future price assumptions, financial performance, shareholder returns and other outlook or guidance. Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by Barrick as at the date of this press release in light of management's experience and perception of current conditions and expected developments, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: fluctuations in the spot and forward price of gold, copper or certain other commodities (such as silver, diesel fuel, natural gas and electricity); risks associated with projects in the early stages of evaluation and for which additional engineering and other analysis is required; risks related to the possibility that future exploration results will not be consistent with Barrick's expectations, that quantities or grades of reserves will be diminished, and that resources may not be converted to reserves; risks associated with the fact that certain of the initiatives described in this press release are still in the early stages and may not materialize; changes in mineral production performance, exploitation and exploration successes; risks that exploration data may be incomplete and considerable additional work may be required to complete further evaluation, including but not limited to drilling, engineering and socioeconomic studies and investment; the speculative nature of mineral exploration and development; lack of certainty with respect to foreign legal systems, corruption and other factors that are inconsistent with the rule of law; changes in national and local government legislation, taxation, controls or regulations and/or changes in the administration of laws, policies and practices, including the status of value added tax refunds received in connection with the Pascua-Lama project; expropriation or nationalization of property and political or economic developments in Canada, the United States, Mali or other countries in which Barrick does or may carry on business in the future; risks relating to political instability in certain of the jurisdictions in which Barrick operates; timing of receipt of, or failure to comply with, necessary permits and approvals; non-renewal of key licenses by governmental authorities; failure to comply with environmental and health and safety laws and regulations; increased costs and physical and transition risks related to climate change, including extreme weather events, resource shortages, emerging policies and increased regulations relating to greenhouse gas emission levels, energy efficiency and reporting of risks; Barrick's ability to achieve its sustainability goals; contests over title to properties, particularly title to undeveloped properties, or over access to water, power and other required infrastructure; the liability associated with risks and hazards in the mining industry, and the ability to maintain insurance to cover such losses; damage to Barrick's reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to Barrick's handling of environmental matters or dealings with community groups, whether true or not; risks related to operations near communities that may regard Barrick's operations as being detrimental to them; litigation and legal and administrative proceedings; operating or technical difficulties in connection with mining or development activities, including geotechnical challenges, tailings dam and storage facilities failures, and disruptions in the maintenance or provision of required infrastructure and information technology systems; increased costs, delays, suspensions and technical challenges associated with the construction of capital projects; risks associated with working with partners in jointly controlled assets; risks related to disruption of supply routes which may cause delays in construction and mining activities, including disruptions in the supply of key mining inputs due to the invasion of Ukraine by Russia and conflicts in the Middle East; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; risks associated with artisanal and illegal mining; risks associated with Barrick's infrastructure, information technology systems and the implementation of Barrick's technological initiatives; including risks related to cybersecurity incidents, including those caused by computer viruses, malware, ransomware and other cyberattacks, or similar information technology system failures, delays and/or disruptions; the impact of global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future cash flows; the impact of inflation, including global inflationary pressures driven by supply chain disruptions; global energy cost increases following the invasion of Ukraine by Russia and country-specific political and economic factors in Argentina; adverse changes in our credit ratings; fluctuations in the currency markets; changes in U.S. dollar interest rates; changes in U.S. trade, tariff and other controls on imports and exports, tax, immigration or other policies that may impact relations with foreign countries, result in retaliatory policies, lead to increased costs for raw materials, components and equipment, or impact Barrick's existing operations and material growth projects; risks arising from holding derivative instruments (such as credit risk, market liquidity risk and mark-to-market risk); risks related to the demands placed on Barrick's management; the ability of management to implement its business strategy and enhanced political risk in certain jurisdictions; uncertainty whether some or all of Barrick's targeted investments and projects will meet Barrick's capital allocation objectives and internal hurdle rate; whether benefits expected from recent transactions are realized; business opportunities that may be presented to, or pursued by, Barrick; our ability to successfully integrate acquisitions or complete divestitures; risks related to competition in the mining industry; employee relations including loss of key employees; availability and increased costs associated with mining inputs and labor; risks associated with diseases, epidemics and pandemics; risks related to the failure of internal controls; and risks related to the impairment of Barrick's goodwill and assets. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick's ability to achieve the expectations set forth in the forward-looking statements contained in this press release. We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
New York Times
03-04-2025
- Business
- New York Times
John Thornton, 59, Dies; Financier Helped Revive Local Journalism
John Thornton, a financier who leveraged his wealth and influence to embark on the seemingly quixotic mission of reviving local journalism in a time of crisis, by founding The Texas Tribune, a seminal regional nonprofit news organization, and the American Journalism Project, which supports local digital newsrooms around the country, died on Saturday in Austin, Texas. He was 59. His death, by suicide, followed a long mental health struggle, a spokesman for the American Journalism Project said. Mr. Thornton helped change the financial model for sustainable local journalism when, in 2009, he founded The Texas Tribune, a member-supported, digital-only, nonpartisan media organization. The Tribune, which began with 11 reporters and editors focusing largely on Texas state politics, now has a newsroom of more than 50 staff members covering local issues in all 254 counties in the state, in addition to a congressional reporter in Washington. That success inspired Mr. Thornton to try to replicate the model nationwide with the American Journalism Project, a 'venture philanthropy' effort, as he termed it, based in Washington. He started it in 2019 with Elizabeth Green, a founder of Chalkbeat, a nonprofit education news organization. Both The Tribune and the journalism project aimed to fill the gaps created by the decline or disappearance of local legacy news organizations in an era when more Americans were turning to far-flung corners of the internet and social media for news — or something resembling it. That decline had depleted the ranks of reporters who might have otherwise ferreted out local corruption and tracked the billions spent by city and state governments. Mr. Thornton's idea was to tap big philanthropies, wealthy donors and grass-roots supporters to create nonprofit digital news outlets 'that would play the role of the American newspaper, but be funded as civic institutions, like the ballet,' Sarabeth Berman, the chief executive of the American Journalism Project, said in an interview. With support from socially minded groups like Emerson Collective, founded by Laurene Powell Jobs, the widow of Steve Jobs, and Arnold Ventures, headquartered in Houston, the project has raised more than $225 million to help fund 50 local digital nonprofit news outlets in 36 states, as well as providing strategic assistance. The first 22 newsrooms that were funded have, on average, doubled in size since receiving their grants and created jobs for more than 200 journalists, according to the organization. 'It's not an exaggeration to say John Thornton changed American journalism — and saved it,' Evan Smith, a co-founder of The Tribune, said in a statement. 'No one made him do this. He believed in standing up and supporting, with his time and money, the right kind of news organizations around the country because he knew the consequences of the vast need going unmet.' Even so, Mr. Thornton — as a top executive of Austin Ventures, where he helped oversee more than $4 billion in assets under management — did not begin his foray into journalism as a crusader for truth. 'In my day job, I'm a venture capitalist, so like much else in my life, this one was born out of a quest for financial gain,' he wrote in The Tribune in 2009, recounting its original mission. 'In 2007, it struck my partners and me that the steady decline of the once-nearly-$60-billion American newspaper industry should present some financial opportunities for firms like ours.' He and his Austin Ventures team concluded that local newspapers looked like a perilous investment. But the perils to the American political system seemed to them even greater if their mission went unfulfilled. 'The commercial press,' he added, 'is too fragile for our democracy to rely on for all the news and information that we require to function as responsible citizens.' John Douglas Thornton was born on April 9, 1965, in Wichita, Kan. After getting his diploma from Wichita Northwest High School in 1983, he earned a bachelor's degree in economics from Trinity University in San Antonio, graduating first in his class in 1987. He worked for McKinsey & Company before heading to Stanford University, where he received a Master of Business Administration degree in 1991. Then he joined Austin Ventures, where he guided nearly 50 software investments. The Austin Ventures team 'very quickly determined that there had to be easier ways to make money' than investing in journalism, Mr. Thornton recalled. In a 2010 interview with The Columbia Journalism Review, he described a 'stultifying' meeting in which suggestions for saving newspapers included publishing more photos of pets. 'I thought, 'It's been two hours and journalism hasn't been mentioned,'' he said. 'That's when the light went on for me, that maybe public-service journalism' is a 'public good just like national defense, clean air, clean water.' Armed with little more than a fuzzy concept, he persuaded Mr. Smith, the former editor of the award-winning magazine Texas Monthly, to be The Texas Tribune's editor in chief and president, and Ross Ramsey, a prominent reporter and editor in Texas, to be executive editor. 'We did not have a business plan,' Mr. Smith said in an interview. 'We didn't have any research that we had done on the feasibility of this. We did not do any focus groups. What we had was a piece of brown butcher paper from a barbecue restaurant on which we had scribbled notes about what we wanted this thing to be.' As The Tribune's first chairman, Mr. Thornton supplied an initial $1 million in seed capital and another $1 million the next year. By the end of 2009, The Tribune had attracted about $4 million in funding, including $500,000 from Houston Endowment, $250,000 from Knight Foundation and $2,500 each from more than 60 corporate sponsors. It turned out to be money well spent. Over the years, The Tribune has won Peabody and Edward R. Murrow awards, among many others, and last year was a finalist for a Pulitzer Prize for its investigation, in partnership with ProPublica and the PBS program 'Frontline,' into the police response to the 2022 mass shooting at Robb Elementary School in Uvalde, Texas. The Tribune has been credited as an inspiration for similar outlets throughout the country, including CalMatters in California, The Nevada Independent and the Pulitzer-winning Mississippi Today. By the time Mr. Thornton stepped down from The Tribune board in 2022, the organization had raised about $120 million from individuals, foundations and corporations. 'I would describe that as a trick worthy of Houdini,' said Mr. Smith, who also stepped down around that time. Mr. Thornton is survived by his wife, Erin Thornton, whom he married in 2019, and his stepsons, Wyatt and Wade Driscoll. His marriage to Julie Blakeslee ended in divorce in 2010. Mr. Thornton's finance career continued while he remained involved with journalism. In 2016, he and Chris Pacitti, a longtime Austin Ventures partner, founded Elsewhere Partners, a firm that invests in bootstrapped software companies. But the need to find new ways to speak truth to power remained front of mind. In recent years, Mr. Thornton saw his groundbreaking news model as more crucial than ever, given the continuing woes of local and regional newspapers and websites. 'My local paper came on the market 18 months ago or so, and I had wealthy, really civically big-hearted friends who said, 'Well, what do you think?'' Mr. Thornton said in a 2020 interview with Vox. 'And my response was, 'Well, what are they going to pay you to take it?'' If you are having thoughts of suicide, call or text 988 to reach the 988 Suicide and Crisis Lifeline or go to for a list of additional resources.
Technical.ly
10-03-2025
- Business
- Technical.ly
Timeline: Astrobotic's rise from CMU spinout to trusted NASA moon partner
Pittsburgh aims to position itself as a leader in space, and it's building the startup ecosystem to make that happen. Perhaps most notably, the aerospace company Astrobotic. In 2007, Pittsburgh-based Astrobotic emerged from the corridors of Carnegie Mellon University with an ambitious mission: to lead humanity back to the moon. The 2024 Award-winning company, founded to compete for the Google Lunar X Prize, began as a small startup amid the backdrop of an economic downturn and waning lunar ambitions after NASA's Constellation program was canceled. To become the leader in space technology that it's known as today, it's been an uphill battle. 'We were trying to build a moon company when no one was thinking about going to the Moon. Potential investors literally laughed at us,' CEO John Thornton told Now, Astrobotic stands as a powerhouse in space exploration, boasting over $600 million in contracts, 275 employees and lunar missions under NASA's Commercial Lunar Payload Services (CLPS) initiative which allows NASA to contract commercial entities for lunar delivery services. This initiative is crucial for making lunar exploration commercially viable, providing a platform for Astrobotic to carry out its mission. Still, that journey has been full of ups and downs. Like most startups, it faced failures in between the deals it landed. Here's a timeline of key moments in the startup's journey, and a look ahead at what's next. Lunar missions extend beyond just getting there Astrobotic's mission extends beyond lunar landings. Its 47,000-square-foot Pittsburgh headquarters is the largest private facility dedicated to other lunar logistics, too. It features integration cleanrooms, rover test labs and a Mission Control Center that oversees lunar operations. 'Our cleanrooms and test facilities simulate lunar environments, ensuring mission hardware performs under extreme conditions,' Thornton said. The company also pioneers LunaGrid, a solar-based power distribution service for lunar surface operations. With LunaGrid-Lite set for a 2026 demonstration, Astrobotic aims to sustain long-term lunar exploration by enabling rovers, landers, and habitats to survive the harsh lunar night. This technology is a vital part of making lunar exploration sustainable and commercially viable. A lunar economy built to include all of Pittsburgh Astrobotic's partnerships with NASA, the Department of Defense and private entities reflect a shift toward commercializing space exploration. 'The public-private model fosters international collaboration and ensures sustainable lunar missions,' Thornton said. With over 60 contracts secured, including reusable rocket engines and navigation technologies, Astrobotic is cementing its role as a cornerstone of the burgeoning lunar economy. These partnerships are critical for reducing costs and sharing risks among multiple stakeholders according to Thornton. The company also connects its lunar ambitions to the Pittsburgh community. Universities like Carnegie Mellon provide a pipeline of talent, while the region's manufacturing legacy supports a localized supply chain. The adjacent Moonshot Museum, launched in 2022, has welcomed over 18,000 visitors and inspired more than 32,000 students through STEM programs. Still, the Peregrine Mission One is arguably the more profound part of its modern legacy. It offered valuable lessons despite its challenges. 'Failure is a stepping stone,' Thornton said. 'The data we collected and the operational insights gained have strengthened our readiness for Griffin Mission One.' These learnings are crucial for refining Astrobotic's approach and preparing for future lunar missions, he added. Looking ahead, Astrobotic's focus remains on robotic and autonomous spacecraft, setting the stage for human exploration. 'The moon is Earth's nearest celestial neighbor and is the place we will learn to live and work on another planetary body,' Thornton said. 'The moon is where we'll learn to live and work on another planetary body. Our robotic missions on the lunar surface are paving the way for that future.'
