SOURCE: SpaceDev, Inc.

March 20, 2008 11:00 ET

SpaceDev Awarded International Space Station Contract

Resupply Program Will Provide Subsystems for Japanese H2 Transfer Vehicle

POWAY, CA--(Marketwire - March 20, 2008) - SpaceDev, Inc. (OTCBB: SPDV) has been awarded a contract from IHI-Aerospace (Japan) to manufacture multiple flight ship-sets of precision space mechanisms for the H2 Transfer Vehicle (HTV). Included are low-shock release devices used to restrain the HTV's exposed cargo pallet during launch, and release it on orbit for transfer to the International Space Station. The contract also calls for SpaceDev to supply high-output paraffin release mechanisms and a brush motor. Hardware for operational HTV spacecraft will be delivered over the next six years.

"We are very pleased to announce this contract win which is one of the Company's largest in recent years. Our release mechanisms utilize our exclusively licensed Fast Acting Shock-less Separation Nut (FASSN) technology," said Mark N. Sirangelo, SpaceDev's Chairman and CEO. "Our FASSN has the ability to release very high loads with low shock levels, and we believe it has already proven itself as the technology of choice for spacecraft/launch vehicle separations, being adopted by launch vehicle suppliers such as United Launch Alliance, Sea Launch, and most recently Arianne. With the upcoming retirement of the Shuttle, alternate sources of resupply to the International Space Station are becoming increasingly important, which we believe will lead to a long life for this program. We are honored to be supporting IHI-Aerospace (Japan) in this effort."

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," 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 manage schedule changes, control costs, and obtain additional financing, if needed. 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 Contacts
    Investor Contact:
    Richard Slansky/Jessica Schwarz
    Media Contact:
    Mark Sirangelo
    (858) 375-2026

Multimedia