March 17th, 2003

Space Elevator Company Co-Founder Forms New Venture LiftPort

The president and co-founder of HighLift Systems, the Seattle-based company that received funds from NASA to research building an elevator to space, today announced the formation of a new company dedicated to the commercial development of a thoroughfare to space. LiftPort Inc., established by Michael Laine, will focus on the construction phase of the space elevator, as well as the creation of commerce in space. Laine will serve as president of the new company, which he is starting as a direct result of the completion of the NASA funds. “Now that the NASA grant is ending, it’s important to take the space elevator concept from research to commercial development,” said Laine. “Through companies such as HighLift Systems and Eureka Scientific, the initial Phase I and Phase II research reports have been completed. Now it’s time to actively take the research and turn this into commercial development.”

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