The National Aeronautics and Space Administration (NASA) has announced on Tuesday, Sept. 29 that it has terminated its ties with B612 Foundation, a private firm that aims to hunt down nearby asteroids surrounding Earth. With this, the development of the sole large-scale telescope designed to survey potential planet destroyers has been sent down the drain.

As the 10-year contract has ended, so is the provision of analytical and data support by NASA to Sentinel, the $450 million satellite devised to detect 90 percent of near-Earth objects (NEOs) that are bigger than 140 meters (5,512 inches).

According to the space agency, the reasons for their decision is the foundation's failure to meet its set goals within the given deadlines and the need for other missions to use the Sentinel funds.

In 2012, B612 Foundation based from Mill Valley, California and headed by Ed Lu, a former astronaut, was contracted to build a spacecraft to be used in an asteroid-survey mission, under a Space Act Agreement (SAA) signed by the foundation and NASA. The foundation was also deemed to report the findings of the mission to NASA and carry the data to the Minor Planet Center. In turn, NASA will provide technical facilities and assistance should the spacecraft be launched.

Aside from the primary goals of the contract, a number of conditions were also agreed upon. As per the original plan, the mission was scheduled to be launched in December 2016. Part of the preparation is to subject the spacecraft to a comprehensive design evaluation in October 2014. However, the said review had to be delayed, moving the launch target to 2017 or 2018. As a matter of fact, the construction of the spacecraft has not even begun.

The significant delays were said to be due to the lack of funds. As per expectations, the estimated cost of Sentinel is $450 million but B612 was only able to collate $1.2 million and $1.6 million in 2013 and 2014 respectively, majority of which came from private donations and crowd sponsorships.

Despite the massive blow in the confidence of the Sentinel mission and the impending financial struggles, the team behind it is determined to continue with what it has started. "[The] status of the SAA in no way changes the resolve of B612 Foundation to move forward," said Diane Murphy, B612 Vice President for Communications said in behalf of Lu. She added that the team will persist to work under independent terms and in collaboration with organizations such as the US Congress and NASA to fulfill their objectives.