We are planning to license the technology

"We are planning to license the technology to partners around the world," Roberts wrote. "We may hold a competition to determine where to install the demonstrator or this may be determined by construction partners."

 

The structure's design includes a deck where companies could lease space for their communications equipment.

The 12-mile-high tower, which is estimated to cost about $5 billion in U.S. currency, would be erected in eight to 10 years, according to Roberts.At this point, it's not clear where the demonstration model or the 12-mile elevator companyr will be built.