SOURCE: Space Propulsion Systems, Inc.

April 07, 2006 16:05 ET

Chemical Engineering Group at University of South Florida Independently Validates Importance of SPS Propulsion Technology

CLEARWATER, FL -- (MARKET WIRE) -- April 7, 2006 -- Space Propulsion Systems, Inc. (OTC: SPSY) announced this date that an independent, detailed scientific technology and safety review of SPS's Advanced Performance, New Generation, Micro-Fuel Cell™ (MFC) based solid rocket propellants has been completed. Expert personnel from the Chemical Engineering Department of the University of South Florida conducted this review.

It was the scientific opinion of this review that, without modification, the New Generation solid propellants will demonstrate significant safety in storage and use, while providing significant performance improvements by allowing the use of the most energetic solid propellant ingredients known to the industry, which currently cannot be used due to product instability and safety issues.

This review process was a necessary and final step in the progression of SPS to the next and final stage of New Generation MFC™ solid propellant commercialization.

These benefits should translate to other product applications of SPS's MFC technology, including, but not limited to, advanced performance and safety ordnance and controlled inflation automobile airbag safety system applications.

Further information on the technology and the Company can be obtained at the Company Website (www.sps.aero).

Space Propulsion Systems (the "Company") is an aerospace company that specializes in the research and development of patent pending state-of-the-art manufacturing and chemical process technologies that are both environmentally friendly, and cost efficient. These processes are used in the design, development and manufacture of superior performance products that are critical for achieving significant improvements in commercial and military aerospace operations. Principal among these advanced products are the New Generation rocket, missile, and satellite propulsion technologies that are based on the Company's patented Micro-Fuel Cell™ (MFC™) propellants.

Space Propulsion Systems has developed a strong professional relationship with the University of South Florida (USF) (www.usf.edu) which provides expertise and support in the development of manufacturing and control systems technologies for the Company's products, as well as in applied research in both materials processing and chemical analysis techniques. USF also provides support in the development of predictive mathematical models, which provide critical information on the design and performance aspects of both the manufacturing technologies used by the Company, and the products produced by the Company.

The Company's propulsion and manufacturing technologies have undergone an extensive review process by both US Government propulsion laboratories and aerospace companies. These reviews have led to numerous offers of teaming agreements and joint ventures for the development, testing and commercialization of the Company's principal propulsion technology.

Safe Harbor:

Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company's future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's partners that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company's filings with the U.S. Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.

Contact Information

  • Contact:
    Investor Relations:
    Space Propulsion Systems
    4707 140th Ave. N, Suite 303
    Clearwater, FL 33762-3840
    tel: (727) 524-8808
    fax: (727) 524-1617