SOURCE: Space Propulsion Systems, Inc.

December 04, 2006 07:00 ET

Space Propulsion System, Inc. Announces Plans for Expansion of Its Successful WREEM Line of Ordnance Products

CLEARWATER, FL -- (MARKET WIRE) -- December 4, 2006 --Space Propulsion Systems, Inc. (PINKSHEETS: SPSY), a Company specializing in the development of New Generation solid rocket propellants that will provide improved safety and performance for use in both the commercial and military aerospace industries, has recently announced plans for development of a line of ordnance products for military and commercial uses based on the Company's patented WREEM ordnance product.

WREEM (Water Repellant Elastomeric Explosive Material), unlike the Company's patented MFC-based solid rocket propellants, is a plastics explosive-like material which can not only be used as explosives, but also as a rocket propellant in small arms such as mortars and shoulder-fire rockets. The WREEM product has been exhaustively tested by two outside independent laboratories, and meets or exceeds performance standards of competitive products such as JA-2 (Primex Technologies/Aerojet) and Bullseye Powder (Alliant Techsystems). Unlike these competitive products, WREEM has superior physical properties -- it can be cast or machined into plastic-like sheets of various thickness and shapes, and is also water repellant.

An SPS spokesperson stated that "Pro Forma projections for revenues generated from this original WREEM product alone are expected to be significant for the Company once commercialization is begun and the market established. However, the basic structure of WREEM allows the Company to make substantial further improvements in the performance of this product, as well as improve the manufacturing process, by application of the Company's core, environmentally friendly, Supercritical Fluids processing technologies. This would significantly expand the market share of this product line into other areas of the lucrative commercial and military ordnance markets." SPS plans to begin this product expansion immediately upon availability of SPS's new facility.

SPS is the owner of a process patent for the manufacture of a New Generation of advanced performance rocket propellant using supercritical fluid technology and a patent related to the manufacture of WREEM homogeneous propellants. Its stock trades over-the-counter via the Pink Sheets under the symbol Its web site is

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:
    KD Everton
    Space Propulsion Systems, Inc.
    Phone 727 524 8808
    Fax 727 524 1617

    4707 140th Ave N
    Suite 303
    Clearwater, FL 33762-3840