The NAV Beacon is a craftable, throwable item in StarForge. As of Patch 0.7.2, it was a part of the starting kit given to the player on spawning into the game world. The NAV Beacon produces a bright beam of light which extends upwards into the sky indefinitely, and creating this beam is its sole purpose. Due to its relatively short effect duration, its recommended use is for two players to pinpoint each other's locations.
The NAV Beacon simply creates a bright beam of light which will spawn in a random color that lasts for 4 minutes. After 4 minutes, the light will disappear and you will not receive the NAV beacon back. Additionally, the light created by the NAV beacon will go through apparently any solid object.