SOURCE: Space Propulsion Systems, Inc.

December 04, 2006 07:15 ET

Space Propulsion Systems, Inc. Successfully Removes US Government Secrecy Orders Placed on Key Company Propulsion Technologies

CLEARWATER, FL -- (MARKET WIRE) -- December 4, 2006 -- Space Propulsion Systems, Inc. (PINKSHEETS: SPSY) is pleased to announce that the Patent and Trademark Office of the Department of Commerce has rescinded the Secrecy Orders that had been imposed with respect to both its WREEM homogeneous propellant and the Supercritical Fluids fabricated Micro Fuel Cell composite rocket propellant in the light of guidance provided by US defense agencies. Secrecy Orders are imposed on new inventions or processes when information related to them is considered to be "detrimental to national security." The Secrecy Orders had been imposed by the Patent Office upon advice of the United States Air Force following its review of the patent applications.

An SPS corporate official stated: "We unreservedly support the US Government and Department of Defense in controlling the distribution of technical information or products that would jeopardize National Security. However, we found after several years of trying to work under the restrictions of the Secrecy Orders, that the limitations on our business and technical activities imposed by these orders were preventing the company from developing the very products that the government feels are of vital importance. Although SPS intends to work with the US Government in any way required to protect this technology, SPS believed that the Company needed to develop this technology for the sake of the US, the stockholders of SPS, and the Company. SPS therefore requested our patent attorneys to petition the US Government to rescind the Secrecy Orders on these products. It took over a year, but SPS was finally successful in this effort."

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 SPSY.pk. Its web site is www.sps.aero.

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 US 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
    Email: admin@sps.aero