Astrotech Corporation (Nasdaq: ASTC) announced it has submitted a proposal to NASA under the agency's Commercial Lunar Payload Services 2 (CLPS2) program, seeking approximately $20 million in non-dilutive funding for Phase 1 lunar technology demonstrations.

The Austin, Texas-based company said the proposal covers technology demonstrations related to lunar mining and materials processing. Astrotech said it would seek additional NASA funding from the CLPS2 program if the initiative is fully implemented and authorized. CLPS2 is a multiple-award procurement program with a reported total budget of up to $10 billion across all awarded contracts.

According to the company's statement, the proposal includes plans for lunar resource extraction, materials processing, oxygen production, silicon-28 production, platinum group metals recovery, quantum wafer manufacturing, AI-enabled process control, a lunar communications hub, and solar-electric power generation, among other applications.

"Submitting this CLPS2 proposal formally introduces Astrotech's vision for a lunar industrial economy," said Thomas B. Pickens III, Chairman, Chief Executive Officer and Chief Technology Officer of Astrotech. "Our Phase 1 proposal seeks approximately $20 million from NASA to demonstrate key lunar mining and materials processing technologies."

Astrotech noted that submission of the proposal does not constitute a NASA selection, award, contract, authorization, endorsement, or commitment. Any selection or funding would be made by NASA in accordance with applicable procurement rules.

The company described the proposal as part of a broader lunar resources and infrastructure initiative, citing its prior spaceflight heritage that includes work with SPACEHAB pressurized modules during the Space Shuttle era and missions to the International Space Station and Mir.