Suppose we have an object, not in orbit, but on a direct collision course with Earth:
This object has kinetic potential energy w.r.t. the Earth. To convert the kinetic energy into chemical potential energy, we could theoretically do regenerative braking with large turbines that charge a battery located on the asteroid. However, this has obvious practical limitations. Is there a known way to convert the kinetic energy of the asteroid to a more useful form while it is still in space? If not, is such a thing prohibited by any theoretical considerations?