There are lots of potential uses for a Mars colony. It could be a research outpost, mining colony, or even a possible second home if something happens to go drastically wrong on our first one. But it could also be a potential source of what is sure to be one of the most valuable elements in the space economy—hydrogen.

A new paper from Dr. Mikhail Shubov at the University of Massachusetts Lowell discusses just such an eventuality. Hydrogen is useful in myriad applications. From creating water to exploding as rocket fuel, the most abundant element in the universe sure has many uses. The problem is it's relatively hard to get access to in the broader solar system.

There is plenty of it in Jupiter or even the sun, but extracting the material from those enormous gravity wells is not particularly cost-effective. Smaller orbital bodies, such as asteroids, have some water that could be used as a hydrogen source, but they are not large enough to provide all of the solar system's needs.

This mockup of ESA's European Lunar Logistics Lander (EL3) is currently on display at the International Astronautical Congress in Dubai.

The versatile EL3 will be used to land cargo on the lunar surface in support of crewed expeditions as well as to host science payloads, potentially enabling sample returns as well.

This EL3 Landing and Descent Element mockup was created for ESA by startup Spartan Space in France. In practice this segment will be attached to a payload-hauling Cargo Platform Element, the subject of a study by ESA's Concurrent Design Facility (CDF).