The proliferation of debris orbiting the Earth – primarily jettisoned rocket and satellite components – is an increasingly pressing problem for spacecraft, and it can generate huge costs. To combat this scourge, the Swiss Space Center at EPFL is announcing today the launch of CleanSpace One, a project to develop and build the first installment of a family of satellites specially designed to clean up space debris.
This looks like a reasonable method, although I think that at some future point it might be useful to just put at least the smaller stuff in a higher 'parking orbit' for later destruction or recycling. This way you wouldn't lose one vacuum cleaner for each satellite retrieved. And much later down the road, it might be useful to collect bigger units — expended boosters, for example — as raw materials and/or containers. The cost of getting the mass into space has already been spent.
I optimistically foresee a future where much of the stuff sent into orbital space has a recycling function built into the design."