Director James Cameron, who just made history piloting a submersible 7 miles below the surface of the Pacific in the Mariana Trench, appears to have his sights on the opposite direction with investors who include Google cofounder Larry Page and its former CEO Eric Schmidt, former Microsoft executive (and space philanthropist) Charles Simonyi and Ross Perot Jr., son of the former presidential candidate. The venture known as Planetary Sources is scheduled to be announced Tuesday in Seattle. Information about the impending announcement was posted today on MIT’s Technology Review. The release says “the company will overlay two critical sectors — space exploration and natural resources — to add trillions of dollars to the global GDP. This innovative start-up will create a new industry and a new definition of ‘natural resources’.” The MIT blog suggests the venture “sounds like asteroid mining. Because what else is there in space that we need here on earth? Certainly not a livable climate or a replacement for our dwindling supplies of oil.” The press conference will take place at the Museum of Flight in Seattle on Tuesday, April 24 at 10:30 a.m. PDT and will be available via webcast.

Get Deadline news and alerts sent to your inbox.