The space debris management and alleviation in the microgravity environment is a dynamic research theme of contemporary interest. Herein, we provide a theoretical proof of the concept of a lucrative energy conversion system that is capable for changing the space debris into useful powders in the international space station (ISS) for various bids. A specially designed broom is adapted to collect the space debris of various sizes. An optical sorting method is proposed for the debris segregation in the ISS by creating an artificial gravitational field using frame-dragging or gravitomagnetism. An induction furnace is facilitated for converting the segregated metal-scrap into liquid metal. A fuel-cell aided water atomization method is proposed for transforming the liquid debris into metal powder. The high-energetic metal powders obtained from the space debris could be employed for producing propellants for useful aerospace applications, and the silicon powder obtained could be used for making soil for fostering the pharmaceutical-flora in the space lab in the future aiming for the scarce-drug discoveries for high-endurance health care management. The proposed energy conversion system is a possible alternative for the space debris extenuation, and its real applications in orbiting laboratories through the international collaboration for the benefits to humanity.