SOURCE: SpaceDev, Inc.

November 01, 2007 09:00 ET

SpaceDev to Develop New Thermal Radiator Technology for Air Force

The Air Force Research Laboratory Contract Award Expands SpaceDev Thermal Control Products

POWAY, CA--(Marketwire - November 1, 2007) - SpaceDev (OTCBB: SPDV) announced today that it has been awarded a $100,000 firm fixed price contract for the development of a new radiator technology for satellite thermal control. The Phase 1 Small Business Innovative Research contract will be performed over a 12-month period during which SpaceDev will collaborate with the Space Dynamics Laboratory of Utah State University to build and test a validation prototype of a new light-weight, high performance radiator technology for space applications. This new technology will enhance satellite performance and enable increased mission capabilities.

"This new thermal management technology is a great complement to our existing thermal control products," said Mark N. Sirangelo, SpaceDev's Chairman and CEO. "Once developed, this product will provide a broader solution set for our customers' thermal control requirements and will support our own future satellite programs."

About SpaceDev

SpaceDev, Inc. is a space technology/aerospace company that creates and sells affordable and innovative space products and mission solutions. For more information please visit www.spacedev.com and www.starsys.com.

Except for factual statements made herein, this news release consists of forward-looking statements that involve risks, uncertainties and assumptions that are difficult to predict. Words such as "believe," "intends," "expects," "plans," "anticipates" and variations thereof, identify forward-looking statements, although their absence does not mean that a statement is not forward-looking. Forward-looking statements are based on the Company's current expectations, and are not guarantees of performance. The Company's actual results could differ materially from its current expectations. Factors that could contribute to such differences include risks and uncertainties associated with: the Company's ability to: effectively manage schedule changes or cancellation of customer orders; control costs and expenses; and, obtain additional financing, if needed. Reference is also made to other factors described in the Company's periodic reports filed with the SEC, including the Company's most current Annual Report on Form 10-KSB and subsequent Quarterly Reports on Form 10-QSB. These forward-looking statements speak only as of the date of this release. SpaceDev does not intend to update these forward-looking statements.

Contact Information

  • SpaceDev Investor Relations
    Investor Contact:
    Richard Slansky/Jessica Schwarz
    Media Contact:
    Mark Sirangelo
    (858) 375-2026