SOURCE: SpaceDev, Inc.

August 13, 2008 14:07 ET

SpaceDev Appoints Patricia Grace Smith to Board of Directors

Former FAA Associate Administrator for Commercial Space Transportation Brings Broad Experience to SpaceDev's Board

POWAY, CA--(Marketwire - August 13, 2008) - SpaceDev, Inc. (OTCBB: SPDV) announced today that Patricia Grace Smith, former Associate Administrator of Commercial Space Transportation for the Federal Aviation Administration, has joined the SpaceDev Board of Directors.

Ms. Smith has over 25 years of experience including 14 years with the Federal Communications Commission (FCC). She also served as Associate Administrator for Commercial Space Transportation within the U.S. Department of Transportation's Federal Aviation Administration (FAA), where for 11 years she headed the office responsible for licensing, regulating and promoting the U.S. commercial space transportation industry.

Under Ms. Smith's leadership at the Office of Commercial Space Transportation, the FAA became a recognized global leader in support of private human space flight. Ms. Smith has worked closely with FAA lines of business to apply aviation expertise where appropriate to space issues and to address the impact of space flight on the National Airspace System. Ms. Smith was named by Space News as one of the top 10 people in the U.S. space sector.

"We are honored to have someone of Patti's experience join our board," said Mark N. Sirangelo, SpaceDev's Chairman and CEO. "As we continue to lead our industry in the commercialization of space, Patti's depth of experience and knowledge will be an important strategic addition to our Company."

"I am very pleased to have the opportunity to serve on SpaceDev's Board of Directors," said Ms. Smith. "SpaceDev is playing a key role in the development of the commercial utilization of space, and I am honored to be able to contribute to that mission by being a part of the SpaceDev team."

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, visit www.spacedev.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, obtain additional financing, if needed, and competitive factors related to the Company's size. 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-Q. 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