At Fleet Space, we build space technologies to solve hard problems on Earth and the new worlds humanity will visit in the future. Our innovation path - focused on building solutions for the dual challenges of climate change and space exploration - is a pioneering mission, leading us headlong into some of the greatest challenges we must face for civilisation to flourish in the centuries ahead. In 2024, during a time of global macroeconomic adversity, we stayed laser-focused on one thing: execution. Now, standing on the foundation built this year, we can see deeper into the future than ever and step boldly into the next chapter.
“It’s official: the integration of space, AI, and big data will define the next generation of strategies needed to achieve Earth’s clean energy future. With the global adoption of ExoSphere, we are building a global technology stack to reverse the decline in new mineral discoveries that impede progress toward net-zero,” said Flavia Tata Nardini, CEO & Co-Founder of Fleet Space. “Our mission - believed in by leading exploration companies and visionary investors around the world - is setting the innovation roadmap for the future of exploration: faster, more sustainable mineral discovery, end-to-end.”
This month, Fleet Space closed an A$150M Series D funding round, led by Teachers’ Venture Growth (TVG), the late-stage venture and growth investment arm of Ontario Teachers’ Pension Plan - more than doubling our valuation to A$800M+. This investment follows Fleet Space’s successful global expansion in 2024, reaching new customers and delivering groundbreaking results with our end-to-end exploration technology, ExoSphere, in North America and LATAM, while strengthening our market leadership in Australia. Achieving this expansion during a period of economic headwinds reflects how ExoSphere is filling urgent and growing needs of explorers worldwide, as they retool their strategies to accelerate discovery of energy transition minerals.
Advancing Exploration On Earth & Beyond
Combining the latest advances in spacetech, 3D multiphysics, and AI to image mineral systems in real-time up to 7km in depth, the breakthrough capabilities of ExoSphere have been rapidly adopted across the global mineral exploration industry. This year, we formed an ongoing collaboration with Rio Tinto to advance exploration at the Rincon Lithium Project in Argentina, conducted the world’s highest real-time 3D ANT survey (3,900-4,700m above sea level) with Gold Fields at Salares Norte in Chile, surveyed copper complexes across 1,150km2 at the Reko Diq project with Barrick Gold, and delivered the world’s largest real-time 3D ANT copper survey across 1800km2+ with Inflection Resources.
With these collaborations (and many others), we established ExoSphere as the platform for real-time, end-to-end exploration at scale. Then we expanded its capabilities even further, launching ExoSphere Discovery, our all-new AI-enabled mineral exploration technology to predict opportunity zones and potential targets with a high probability of alteration or intersecting mineralisation. In another giant leap, we expanded our multiphysics offering with the addition of ExoSphere Gravity, further addressing the industry need for faster, high-quality multiphysics data acquisition, with more techniques like MT coming soon. On this road, we have also continued to advance research and unlock innovation in space technology needed to build a resilient and decarbonised mineral supply chain in collaboration with premiere research organisations like Stanford University’s Mineral-X program.
Pushing the boundaries of exploration technology on Earth has also fueled our continued innovation in space. We launched our next-generation Centauri-6 satellite on SpaceX’s Bandwagon-1 mission - expanding our capacity to service the global demand for ExoSphere. In preparation for the deployment of the lunar variant of our ExoSphere technology - SPIDER - on the Moon in 2026, we collaborated with MIT Media Lab’s Space Exploration Initiative to 3D map some of Earth’s largest lava tubes in the Canary Islands - advancing vital off-world research needed for future missions to the Moon, Mars, and beyond. Additionally, Fleet Space unveiled a cost-effective, resilient full duplex SATCOM system using microsatellites and reprogrammed Centauri-4 to become the world’s smallest voice-enabled satellite in support of the Australian Defence Force’s ASCEND2LEO program.
In recognition of our business growth, innovation, and sustainability benefits we’ve unlocked for customers, we were honoured to be receive the Banksia Foundation’s Climate Technology Impact Award, winner of the Innovation & Business Expansion categories at the Mining Technology Excellence Awards, Business of the Year at the Australian Space Awards, Energy & Renewables Award from InnovationAus, and winner of the technology category at the Australian Growth Company Awards. Not to mention a giant bear hug in the Athabasca Basin!
Ad Astra
We are a global company, bringing together industry leaders, domain experts, innovators, and the world’s top explorers to solve the dual challenges of climate change and space exploration. Our rigorous execution this year is a testament to the extraordinary people who have joined our mission to build the technologies that will enable humanity to explore and connect the Earth, Moon, and Mars. Representing 37+ different nationalities, the diverse perspectives and global worldview we bring to the problems our planet faces has been the catalyst for our exponential growth. We hope our journey this year can be a signal to all explorers that the mission of exploration and discovery - on Earth and beyond - is driving our world forward as powerfully as ever.
This is for you.
Ad Astra.
