SOURCE: SpaceDev, Inc.

February 20, 2008 08:00 ET

SpaceDev Awarded Contract From Space Systems/Loral

Contract Expands SpaceDev's Commercial Space Business

POWAY, CA--(Marketwire - February 20, 2008) - SpaceDev, Inc. (OTCBB: SPDV) has been awarded contracts to deliver satellite battery bypass switches for Space Systems/Loral (SS/L) of Palo Alto, California in support of the 1300-series spacecraft platform. The contracts will support several commercial satellites. SpaceDev will provide its patented Starsys Cell Shorting Device (CSD), a battery cell bypass device incorporating its high-output paraffin technology. The device monitors the health of individual battery cells and automatically isolates a cell from the spacecraft if needed to preserve the integrity of the spacecraft power supply. Deliveries are scheduled to begin in early 2008.

"The ongoing production of the CSD product is an important part of a developing relationship with Space Systems/Loral. This order, which includes long-lead procurements for future buys, reflects the value and importance of this technology for Loral's 1300 spacecraft," said Mark N. Sirangelo, SpaceDev's Chairman and CEO. "Our high-efficiency CSDs prolong battery life and improve the system reliability to ensure crucial mission capabilities are met. It is a spaceflight-proven product with over 11 million hours of successful in-service operation."

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 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 associated with the Company's ability to effectively manage schedule changes, control costs, and obtain additional financing. 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