Canadian based firm THOTH technologies acquired the patent from their american neighbors to create the first ever space elevator in Canada. The tall elevator tower is set to stand at 12.4 miles, that is easily 20 times taller than the Bhuj Al-Khalifa, which currently boasts as the tallest man made structure in the world.
To turn this idea into reality, it is estimated that it will cost the company around $5billion.
Although the money to be spent foe this project is huge but the money spent every time a rocket is launched easily exceeds the $billion mark easily.
Rockets are aided with payloads, which are like the boosters. These payloads help push the rocket off the ground for upto about 15 to 25 kilometers burning tonnes of fuel along the way. The space elevator if successfully created will cut down 30% of fuel consumption.
One more challenge that arises here is the question that would such a structure of this size be able to stand firm in the first place at all. Dr Brendan Quine, the co author of the patent said that they will be using pneumatic pressure so as to control the lean of the tower and keep it from falling from hurricane and other natural calamity related uncertainties