The elevator, if ever built by Thoth Technology, will offer an exciting new way to access space using completely reusable hardware and saving more than 30 per cent of the fuel of a conventional rocket.
"Astronauts would ascend to 20 km by electrical elevator. From the top of the tower, space planes will launch in a single stage to orbit, returning to the top of the tower for refuelling and reflight," said inventor Dr Brendan Quine.
Such a cosmic lift would move payloads much more efficiently at an estimated cost of USD 220 per kg, which is a considerable saving on present costs of USD 25,000 per kg.
An elevator system would also have other advantages, such as being geographically fixed, and being able to carry out many of the functions of a satellite, 'Gizmag' reported.
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Topped with a deck or decks, it could launch satellite payloads from the deck or pods attached to the tower.
While 20 km may not seem like much compared to 36,000 km, it's still 20 times higher than any other manmade structure and high enough to shave a third off of launching costs.
This forms an inner wall to the inflatable sections and a hollow middle for the elevator car. It also acts as a framework for raising decks, stabilisers, and other building components.
The company proposes using a series of flywheels to provide dynamic stability, and to act as compressors to pressurise the tower.
By adjusting pressure and spin, the flywheels can compensate for any bending of the tower and keep it fixed over its footprint.
As to the elevating component, the patent proposes that pressurised cars would run in the core or climb up the outside of the shaft like a mechanical spider.